FAB Launches Super-Surprises AI Tool To Monetise Payments Data To Increase Sales and Drive New Footfall for Merchants
First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, has launched “Super Surprises”, a new artificial intelligence tool that monetises payments data through effective campaigns resulting in increased sales and new customer footfall for merchants.
“Super-Surprises” is the latest of the offerings under the bank’s “Payment as a Platform” and is built on analysing spending behavior of every unique card that interacts with FAB’s payment ecosystem (POS machines and payment gateway). It will help merchants create effective campaigns to drive more customers to their brands through the innovative brand affinity tool built by FAB.
Utilising brand affinity and card behavioural patterns, “Super-Surprises” not only aids merchants in increasing sales but will also help in significant cost reductions pertaining to marketing activities and delivers optimum return on investment for every campaign.
Furthermore, “Super-Surprises” enables smaller merchants to become referral partners for driving offers, where they will also earn a referral income. Being a strong payments ecosystem provider in the UAE, FAB’s new AI tool will generate surprise offers to any cardholder that interacts with FAB payments ecosystem, whether a customer of the bank or not.
Hana Al Rostamani, Deputy Group CEO and Head of Personal Banking at FAB, said: “We have been investing in our digital and payment capabilities to enhance our services to our customers. This AI tool will unlock opportunities and strengthen our customers’ business models and offer great experiences to their clients. We will continue working towards exploring further opportunities to add value in providing payments and customer-focused solutions. Using AI tools, our “Super Surprises” create offers based on customers’ spending behaviour- providing the right offers to the right customers. This is yet another attractive offering from FAB to merchants and customers and one we are certain they will be more than pleasantly surprised with.”
Ramana Kumar, SVP and Head of Payments and Digital Banking, PBG at FAB, said: “Super-Surprises” is the newest addition to our “Payment as a Platform” initiative. It is a unique programme that helps merchants offer instant and personalised surprises to any cardholders and something we believe will spur spending activity. Our solutions provide a bridge between merchants and consumers and deliver value across the payments lifecycle. Everyone loves a surprise, and receiving an offer on a preferred brand is certainly a Super Surprise. That’s amplified even more by the fact the surprise is redeemed in a seamless and frictionless manner. People across the UAE love to shop and any cardholder that interacts with our payment machines may get a surprise offer that is customised for them.”
FAB continues to innovate in the payments space, providing both customers and merchants added value by going beyond the traditional payment gateway. Earlier in the year, FAB launched “Payment as Platform” service for merchants consolidating a complete range of payment technology into a single platform.
First Abu Dhabi Bank
FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.