First Abu Dhabi Bank (FAB) has launched “Super Surprises”, a new artificial intelligence (AI) tool that monetizes payment data through efficient campaigns, resulting in higher revenue and new customer footfall for merchants.
“Super-Surprises” is the latest in the “Payment as a Network” offerings of the bank and it is focused on analyzing the spending behavior of each unique card that interacts with the payment ecosystem of FAB (POS machines and payment gateway). It will help merchants to build productive strategies through the innovative brand affinity tool designed by FAB to attract more consumers to their products.
By utilizing brand affinity and card behavioral patterns, “Super Surprises” will not only help merchants to increase their sales but also reduces significant costs associated with marketing activities and provide better returns on investment for each campaign.
Besides, “Super-Surprises” helps smaller retailers to become referral partners for driving offers, where they also receive referral revenues. Being a powerful payments ecosystem provider in the UAE, the latest AI tool from FAB can generate surprise deals for any cardholder who interacts with the ecosystem of FAB payments, whether or not a bank customer.
“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.”
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 program that helps merchants offer instant and personalized 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,” added Mr. Kumar.
Recently, FAB had launched a Digital Marketplace operated by its ‘payit’ digital wallet, which enables small and medium-sized companies to easily list and sell their goods and services on the platform and make them accessible to a rising paying customer base.