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In response to the rapid growth of the mobile payments market in the UAE, e& money, a leading digital wallet, has embarked on a mission to refine its platform to better align with the evolving landscape. Operating as a comprehensive super app, e& money offers a wide array of financial services aimed at delivering a seamless, secure, and user-centric experience.
Simplifying account topups with Open Banking
Lean's comprehensive approach addressed e& money's challenges head-on, revolutionizing the payment experience for users. By integrating Lean's Payments solution directly into their platform, e& money empowered users to seamlessly top up their wallets via direct bank transfers within the app, eliminating the need for cumbersome third-party gateways. This not only significantly improved the user experience but also doubled the customer monthly return rate. Furthermore, Lean's cost-effective fee structure and efficient settlement times resulted in substantial cost savings of $800K per year for e& money, while simultaneously driving a 40% monthly growth in active customers in the UAE. Looking ahead, e& money and Lean are exploring further collaboration to leverage additional tools and services, illustrating how open banking can extend its benefits beyond payments, fostering continued success for e& money's business endeavors.
Download the case study here
