20th November 2023, Kathmandu
AI-Powered Dobin to Unveil Groundbreaking “Financial Insights” Feature at Singapore FinTech Festival, Revolutionary Financial App to help Singaporeans achieve Financial well-being
Pitch Notes:
Dobin, an AI-powered consumer finance platform that aims to empower users to achieve financial well-being, has gained strong traction since its app’s full launch in July 2023. Uniquely positioned through the use of Open Finance and advanced data analytics, Dobin empowers its growing user base to take charge of their financial lives by providing them with a comprehensive, three-pronged proposition: “Visibility”, “Financial Insights” and “Personalised Recommendations”.
This announcement is about the launch of its groundbreaking feature, “Financial Insights” which is designed to address Singapore’s inflation-driven economic conditions. The feature will equip users with functionalities designed to tackle comprehensive finance challenges, namely by helping them keep tabs on essential expenses that are highly sensitive to inflation, gain transparency into charges from financial institutions, identify all recurring charges, and view an auto-categorized list of all their transactions to more easily identify fraudulent activities on their accounts.
Dobin announced the launch of a first-of-its-kind “Financial Insights” feature at the Singapore FinTech Festival.
Amid challenging economic conditions, the feature is designed to tackle inflation-driven stresses such as rising utility bills, higher consumer prices, and growing everyday expenses, enabling Singaporeans to regain control of their finances.
Backed by decades of industry experience, Dobin’s co-founders include former Visa executives who advised major banks on payments and AI strategies, as well as a former Google technology leader and entrepreneur who scaled a 150-million-downloads app.
Dobin, a trailblazing fintech committed to empowering individuals to achieve financial well-being, announced its game-changing product launch, “Financial Insights” at the annual Singapore FinTech Festival.
Dobin’s unveiling of “Financial Insights” aims to help Singaporeans circumvent today’s complex financial landscape by equipping them with the tools and insights necessary to thrive amid cost-of-living challenges.
Challenging Financial Landscape
Positioned as an innovator in the personal finance space, Dobin is on a mission to revolutionize the way Singaporeans manage their finances. The challenging economic climate coupled with an alarming 64.5% surge in financial scams has underscored the pressing need for individuals to gain greater visibility and control over their finances.
A recent 2023 study conducted by Rakuten Insight revealed that a staggering 60% of respondents are cautious of expenses due to inflation. This culminates in the mitigation of higher utility costs, growing expenses that surpass income growth, and a relentless rise in consumer prices, causing significant financial strain for a majority of Singaporeans.
In response, Dobin launched a groundbreaking feature within its app – “Financial Insights”. Developed by a team with decades of collective experience in data analytics, technology, and finance, it offers a first-of-its-kind solution to holistically tackle the current financial climate.
Khaled Benguerba, CEO and Co-founder of Dobin stated, “Gaining financial visibility is the first step towards financial well-being. As we all adopt more ways to store and spend our money, it has become increasingly complex to keep track of where it sits and where it goes. We’ve built Dobin to be every Singaporean’s financial companion that helps them uncover valuable insights to make better decisions.”
Comprehensive Approach To Empower Users
Enhanced by advanced data analytics capabilities, the Dobin app is designed to enable users to take charge of their financial lives by providing them with a comprehensive, three-pronged approach:
1. Enhance “Visibility”: Users can effortlessly track their income and expenses across all their financial accounts and credit cards, bringing visibility on their entire financial holdings into one unified platform.
2. Unveil “Financial Insights”: Users can access insights into key drivers of their expenses, empowering them to make informed decisions and reduce their cash outflows.
3. Provide “Personalised Recommendations”: Dobin will soon be launching a feature to help users make smarter decisions when they spend by using meaningful discounts to increase savings and the right credit cards to maximize earnings and rewards.
Introducing Dobin’s “Financial Insights”
“Financial Insights” comprises four key components, each designed to address a wide range of financial challenges faced by users:
1. Utility Bills: Users can keep tabs on essential expenses such as electricity, water, mobile plans, and broadband, which are highly sensitive to inflation. It empowers them to control usage and seek better deals, ultimately saving money.
2. Financial Charges: Users gain transparency into charges from financial institutions, such as late fee payments on credit cards, service charges and fall-below fees on bank accounts, and interest rate payments on loans. By doing so, users can avoid unnecessary charges and switch to more suitable financial products when required.
3. Other Recurring Payments: Users can identify all recurring charges, including streaming services, online subscriptions, and other regular expenses. This information helps users pinpoint hidden subscriptions and cancel those they no longer need or use.
4. All Transactions: Users can view an auto-categorized list of their latest transactions across all accounts and credit cards, making it easier to identify and resolve potential fraudulent transactions.
Dobin’s Founding Team
With driving financial well-being at their core, Dobin’s founding team brings together decades of experience to the table.
The co-founders of Dobin are Khaled Benguerba, CEO and Co-founder, a financial industry veteran with a background in Visa and American Express; Erwan Macé, Chief Technology Officer and Co-founder, an experienced entrepreneur and technology leader at Bitsmedia, Akamai Technologies, Vivendi, and Google; and Gyanendra Singh, Chief Product Officer and Co-founder, an expert in Credit Risk and Data Analytics with a career spanning OneCard, Visa, Experian, FICO, and ICICI Bank.
Upcoming Feature Launch
Since the full launch of the app in July 2023, Dobin has gained thousands of monthly downloads. Dobin’s users can seamlessly aggregate, track, and understand their financial data, by securely connecting their bank accounts and credit cards across leading banks. This has resulted in a significant adoption rate and enthusiastic user response, with the user base continuing to grow daily. Notable features introduced include Expense Trends, Credit Card Offers, and Personalised Discounts.
Dobin’s commitment to improving financial well-being does not stop here. In the coming months, Dobin is set to unveil its “Personalised Recommendations” feature, which will offer users guidance on high-value merchant discounts and pair them with the most suitable credit cards for their purchases, resulting in significant savings on their daily expenses.
Stay tuned for more exciting announcements from Dobin as they continue their mission to unlock the power of data and revolutionize financial well-being for users from all walks of life, in Singapore, and soon, across the region.
Dobin
Dobin is a Singapore-based, fintech committed to helping fully banked and underbanked customers in Southeast Asia reach their best financial outcome. Using Open Finance combined with advanced data analytics, Dobin’s innovative solutions empower users to gain control over their finances, make informed decisions, and thrive in today’s complex financial landscape with data-driven insights as well as personalized discounts and financial product recommendations.
Through the power of data, choice, and community, Dobin creates better financial well-being for all.