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The future of finance: Why vertical AI in financial services must start with customers, not banks

The future of finance: Why vertical AI in financial services must start with customers, not banks For most who believe, it is the bank who have the data — true. But, believe me — it’ll never be the whole picture. We love ‘customer first’ for a reason! In today’s fintech landscape, AI is the backbone that holds the promise of truly personal finance — money that works for the customer, not just the institution. It’s a shift that mirrors what we’ve seen in food delivery platforms like DoorDash, Talabat, and Zomato. Initially, these services were designed around a singular focus: the customer. By creating a frictionless, responsive, and deeply personalized experience, they didn’t just serve a demand — they created one. The result? Restaurants lined up to join the ecosystem, seeing the undeniable value of being where the customers already were. In financial services, however, the approach has largely been inverted. While advances in cloud migration, open banking, and digital-first products are monumental, many of these efforts still center on the bank’s needs — reducing operational costs, streamlining internal processes, or automating routine tasks. But, can we say that financial services truly work for the everyday person yet? My answer is: Not quite. We still have miles to go to make the experience as intuitive and beneficial as the technology allows. This is where Sav is shifting the paradigm with a vertical AI approach that understands and prioritizes customer needs in a way that’s both intuitive and actionable. From physical to digital to robo-advisors The evolution of fintech started with a noble goal: “How can technology make financial services work for the average person?” Traditional banking once provided a named relationship manager, but as that era faded, fintech emerged to fill the gap. Neo banks, budgeting apps, and robo-advisors made finance more accessible, but often in isolated, fragmented ways. Consumers now juggle multiple apps for different needs — banking, budgeting, saving, investing — creating an exhausting puzzle for them to piece together. Sav’s MyMoney suite is designed to address this fragmentation by consolidating and centralizing financial insights and actions. Built on AI and open banking, Sav enables consumers to manage their money from a single view, where everything from budgeting to saving and spending is tailored specifically to their unique financial behaviors. Much like food delivery platforms that brought convenience to the forefront, Sav’s vertical AI-powered approach brings an all-encompassing experience to consumers, making financial actions simpler and less time-consuming. AI as the vertical solution for hyper-personalized finance While banks currently use AI to streamline business operations, such as processing documents faster, this is just scratching the surface. True vertical AI, as pioneered by Sav, integrates into the consumer’s life, understanding their financial landscape holistically. Picture an AI that doesn’t merely analyze past spending but proactively suggests the best financial actions based on current and predictive insights. Sav’s MyMoney suite, for example, not only provides real-time spending insights but also is also getting built to help users optimize their savings, debt, and investment decisions within the context of their broader financial goals. In practice, Sav’s vertical AI approach works because it processes enriched, high-quality data specific to each consumer. Unlike generic large language models (LLMs) used across industries, Sav’s AI agents aim to leverages detailed transaction history, financial behaviors, and personalized insights to generate solutions that are accurate, transparent, and meaningful. This approach ensures that consumers get actionable intelligence without the risk of errors or so-called “hallucinations.” The challenge of data integrity and security For AI to be truly transformative, data integrity is paramount. It must be secure, reliable, and consent-driven. In a world where customer data powers hyper-personalized solutions, every piece of data must be treated as sensitive, ensuring that insights are generated with precision and accuracy. What the cornerstone of any platform will be to ensure all insights are delivered within a secure, compliant, and consumer-consented framework. AI regulation — maybe. But, without a doubt financial services must prioritize stringent data security standards. Only then can we achieve a future where customers trust AI-driven insights. We are only scratching the surface with the use cases It will be in no time that AI will become maitsteam for money. Imagine opening your banking/ fintech App one morning to find it’s done some thinking on your behalf. You’ve got AED 5,000 “snoozing” in a low-interest savings account, and the AI agent has spotted a higher-yield option that would have netted you an extra 2% return last quarter. Rather than leaving this money dormant, it proposes an instant transfer into a better-performing account. And if you prefer liquidity over long-term commitment, it suggests a low-risk investment option that keeps your cash accessible but working. The first use case that we prioritised at Sav! But it doesn’t stop there. Sav’s MyMoney suite will one day recognize that you’re also paying 5% interest on a small outstanding credit line. With a single tap, it offers to refinance this debt at a lower rate, or even proposes a “debt shuffle” that minimizes your interest payments based on available balances across your accounts. In just a few moments, you’ve optimized your cash flow and maximized returns without crunching a single number. This is the kind of effortless financial management that can empower consumers — not by throwing tools at them, but by giving them actionable, pre-packaged insights that they can implement with a single tap. What vertical AI can achieve Vertical AI for financial services, when executed with a customer-first mentality, will transform the industry as we know it. Customers will no longer need to piece together solutions from different providers, and banks and financial institutions will naturally flock to a system that places them where consumers are most engaged. The AI-powered platform is a powerful intermediary that can effectively bridge these two worlds. Sav’s MyMoney suite, built on open banking and AI, exemplifies this customer-centric, vertical AI approach. Rather than competing with banks, Sav partners with them, offering a bank-agnostic platform that helps financial institutions reach highly engaged consumers. Banks can now connect …

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Chinese Investment in Ireland

Chinese Investment in Ireland Ireland has a high level of foreign direct investment (FDI) as it is used as an European base for many US companies. This will likely increase due to the Chinese firms that have been choosing to locate in Ireland (Belton). There are many aspects to consider when understanding the implications of increased Chinese investment in Ireland and we will be taking a look at some of them. Tax Implications Ireland is actively courting Chinese companies to encourage them to move to Ireland. The Industrial Development Authority is Ireland’s agency that focuses on attracting foreign investment and they have three offices in China as they want Chinese companies to use Ireland as their way to access Europe (Belton). Ireland has also one of the lowest corporate tax rates in Europe which makes it attractive for Chinese companies; although, this has recently increased to 15% due to the OECD Two Pillar Agreement. It is interesting to note that when the European Court of Justice found that Apple had to pay Ireland 13 billion euros in unpaid taxes, Dublin argued against the need for the tax to be paid (Croft). Countries are inclined to offer tax incentives to companies in order to drive investment and employment, but this creates unfair advantages for companies that tend to already be major players in the market. Hence, while Ireland may benefit from the 13 billion euros, they also will not want to create a reputation that Ireland is not able to apply their own laws accurately or that they give preferential tax treatment to a company to the detriment of others. Job Opportunities Countries who have low corporate tax rates enjoy the position of being more attractive to companies who want to set up abroad. This comes with advantages such as creating jobs and increasing the employment rate. Long term effects can also help improve the infrastructure of a country. However, Ireland already has high levels of FDI and so some economists question whether Ireland needs the jobs that Chinese investment would create (Belton). Paired with this is the consideration that Chinese investment in Ireland will have reputational consequences which may drive away US firms or have other economical effects which would disadvantage Ireland in the long run. Moreover, while FDI promotes economic growth, there are arguments for focusing on promoting domestic industries and creating jobs through that avenue. In recent years, it’s been clear how globalization has affected economies globally due to events occurring elsewhere. Hence, while we may have been in a hyper-globalization period, recent crises like Covid-19 and the Russia-Ukraine conflict shows the risks of relying on external dependencies (Keller and Marold). So while currently China may be investing in Ireland, it is worthwhile to note the long-term impact on focusing on FDI in a world that may be moving towards deglobalization. Diversification Since Ireland’s economy relies on FDI, some economists appreciate the fact that there is now investment from China as it serves as an insurance policy should US companies leave Ireland (Belton). Bringing jobs back to America has been an important political point for some time and during the 2024 elections both presidential candidates pledged to bring manufacturing back to the US. There are economists who are skeptical that the strategies discussed so far would actually bring back those jobs back to America (Lopez). Trump has promised to end outsourcing if he was elected in 2024, but his first presidential campaign made similar promises and he was not able to follow through (Unity Communications). Nevertheless, the desire to bring jobs back to America exists and considering the pressure on US tech companies to go back to the US, it could be a useful strategy to diversify investments (Belton). While some may be reluctant to see a further increase in FDI, Chinese investment may prove to be the failsafe needed should US firms pull out of Ireland- this failsafe is important considering the Irish economy’s reliance on FDI. Reputational Affect However, it is also important to consider that welcoming these Chinese firms could affect Ireland’s reputation. This would be due to the claims of violations of human rights that companies like Shein have. Shein has discovered child labor in its supply chain and has been subject to multiple allegations on their working conditions (Kulkarni). There are also companies like Huawei which contribute 800m euros to the Irish economy but have been sanctioned by the US due to national security concerns and the UK has followed suit by removing Huawei parts from phones (Belton). While Ireland may enjoy the benefits that come with Chinese investment, they have to consider whether it is worth it and if they want companies associated with human right abuses or that have been banned by multiple Western countries to be operating in their country. Ireland enjoys a close relationship to the US and this may protect it from some of the reputation effects of engaging with the aforementioned companies (Belton). However, it does send a certain message to the international community and could reflect on the standards that Ireland holds. Hence, Ireland needs to continuously weigh the benefits of welcoming Chinese investment. FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, …

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Should The Driving Age Be Lowered?

UAE Lowers Driving Age to 17: Benefits, Risks, and Implications The UAE has become the first country in the GCC to lower the minimum age to obtain a driving license to 17 (Saseendran). Previously, to hold a driving license for cars one had to be 18 years old. This is seen by some as a positive change as it grants teenagers more freedom and responsibility. Some 17 year olds are in university as well and having access to personal transportation can be important. Danger of Lowering the Driving Age There are fears associated with lowering the driving age. Critics believe that young drivers should not be on the road because they are not mature or responsible enough. Hence, the argument is that they are more likely to make riskier choices on the road which ultimately makes it a more dangerous environment for everyone. There are also statistics which seem to indicate that younger drivers are more likely to get into fatal crashes, however, it could just be the nature of driving which means that the newest drivers are more likely to have higher crash rates due their lack of experience (Habas). Therefore, it may not be indicative of an issue with 16 year old drivers but rather just that they are the newest drivers on the road. Those accidents could potentially be attributed to 18 year olds if the minimum driving age increased in the areas reported on. Cultural Reality What is important to note is that a lack of license does not stop many young drivers. Many people start driving before they get their license, and in remote areas the need for transportation means people start driving at quite a young age (Tesorero). Acknowledging this cultural reality is important because it means that legislation can be developed around it. Further, 25% of Dubai cases registered against minors in 2020 were related to underage driving (Al Amir). The facts show us that underage driving is still a prevalent problem. Moreover, although traffic deaths have reduced by two thirds due to tougher laws and pro-active policing, road accidents are still the leading cause of death of children in Abu Dhabi (Bhandari; Safety & Traffic Solutions Committee). By reducing the minimum age requirement, the UAE government is taking a proactive approach to ensuring that underage drivers have the appropriate education to make sure that they are not a danger to themselves or others on the road. This can help make the UAE’s roads safer as 17 year olds no longer need to illegally drive but can apply for their license and receive formal training. Examining the Debate Through a Different Content The different reactions to the decree-law center around whether there is an understanding of the reality of the situation. An acknowledgement of the fact that underage drivers exist and will continue driving without the required education is important to have an holistic understanding of how the topic should be tackled. Even if there were no underage drivers, there are arguments for lowering the minimum driving age. However, seeing as underage driving is an issue, it raises the question of whether the law should legislate for them or not. This same conflict can be seen when it comes to abortion rights. For instance, in 2022 when Roe v Wade was overturned in the US and the court held there was no constitutional right to abortion, several states adopted laws that limited access to abortions (Britannica). However, a study found that restricting abortion did not reduce abortion rates and that countries where abortion was broadly legal and countries where it was completely prohibited had similar abortion rates (Doucleff). The need for abortion does not vanish when abortion is made illegal, it just means that the routes to access abortion are not legal and can be unsafe. Hence, restricting abortions does not prevent it from happening but it does make it more unsafe. The WHO has found that when abortion is legal 90% of abortions happen safely, but when it is restricted then only 25% happen safely (Doucleff). Similarly, ignoring underage drivers in the UAE would not mean that they do not drive, and clearly the fact that it is illegal has not completely abolished the practice. Instead, regulating underage driving and ensuring that they are trained means that the drivers and everyone else will be safer. Class Implications In both driving and abortions, there are also class implications to consider. When it comes to underage driving, those who come from privileged backgrounds are more capable of paying the heavy fines. Similarly, when it comes to abortions, those seeking it in places where it is banned are likely to travel elsewhere where it is legal and this is more accessible to those who are wealthy. As a result, lowering the driving age in the UAE should be considered as the right move. It will help reduce traffic accidents by ensuring that underage drivers are able to apply for a license and will receive the necessary training. FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, UAE, with registration number # 5474. Through our banking partnership with Mashreq Bank, VISA and NymCard, we provide VISA prepaid cards. 3. Does Sav issue bank …

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Is Traditional Banking Always The Answer?

Is Traditional Banking Always The Answer? Bog Butter to Preserve Wealth While technology has encouraged banking to adapt and offer new services, traditionally banks have been physical presences that offer conventional financial services such as savings accounts, loans, etc. Traditional banking has obviously not always been the answer; for instance, in Ireland it is theorized that people may have used bogs to protect their wealth. Every year, people in Ireland dig up peat moss and so it is quite usual for them to find butter in the bogs (Daley). Butter during the Iron Age was valuable and could be used to pay taxes or rent so it was important that it was protected. While there could have been other motivators such as preservation or ritual, the fact remains that people do not always use traditional banking structures to manage their wealth (Penn-Romine). Instead, people may use alternative methods which are accessible to them- the collapse of the traditional banking system in Lebanon, for instance, prompted people to use other methods. Exclusion from Traditional Banks While people may no longer have bog butter, this does not mean they do not use alternative measures to preserve their money. For example, in 2016 when India decided to demonetize all ₹500 and ₹1,000 banknotes, it was revealed that many housewives had secret savings that they didn’t deposit in the banks (BBC). Culturally, managing the accounts is seen to be reserved for the men in India. Hence, when 80% of Indian women don’t have bank accounts and most don’t have access to reliable information about the banking system, they need to turn to other ways to manage their wealth as traditionally banking is not accessible to them (Doshi). Therefore, while traditional banking may often be what people turn to, it is not always available as a reasonable choice. Collapse of Traditional Banking: Al-Qard al-Hassan in Lebanon Al-Qard al-Hassan (AQAH) has risen in relevance since the economic crisis in Lebanon. After 2019, banks have limited cash withdrawals and it has become difficult for people to access their money (Geldi). As a result, many have turned to AQAH- despite its initial audience being the Shiite population, Hezbollah has since encouraged all Lebanese citizens to use AQAH (Reuters and TOI). As traditional banks are no longer a realistic option, AQAH is much more attractive as it allows users to withdraw cash (Mishra). AQAH is not part of the international banking system and faces sanctions from the US for working with Hezbollah which has been labeled as a terrorist organization by many countries (Gritten and Lukiv). Nevertheless, people have turned to AQAH despite the sanctions it faces. AQAH has continued to operate when other banks have collapsed, and the lack of options mean that people would be hard-pressed to not utilize the one resource they have. Citizen’s lives have not stopped moving despite the economic crisis and they need loans to pay for education and to start their businesses and AQAH enables them to do so. The bank operates on the principles of Islamic finance and mainly offers interest free loans backed by deposits of gold or other valuables (Baker). As the majority of Lebanon’s population is Muslim, it is helpful that AQAH operates in a way that complies with their religious requirements. Moreover, while traditional banking may have been the norm at one point in Lebanon and may again resume that position at some point, it is not a reasonable choice for most people currently. The banking system has collapsed but life still goes on and so non-traditional banking has to be the answer to fill the void that has been created. Microloans For Economic Empowerment Another instance of when traditional banking has not been the answer builds upon our earlier discussion of exclusion from traditional banking. Microfinance in India is targeted towards women in order to economically empower them. Here it is not so much the exclusion from traditional banking that presents the primary problem, but rather the fact that traditional banking simply is not compatible with the reality of their situations. Those living in poverty are unlikely to have employment or collateral to use for a loan and banks are unwilling to grant them due to the high risk and transaction costs attached. Hence, microfinance is presented as an attractive alternative to local money-lenders who have high interest rates. Further, India has a large rural population, and microfinance is a tool that can be used to promote development at a grassroots level (Sonakia). These small loans are helpful in allowing women to set up small businesses, but they can also be used for consumption purposes like weddings or medicine. While microfinancing has been set up with the best of intentions to increase female entrepreneurship and financial independence for impoverished women in rural areas, there are also instances of harassment against women, high interest rates, and debt traps (Jaswal). It is also not as generous as it could be as the risk to the lenders still needs to be weighed. As a result, those below the poverty line cannot reap the benefits of these schemes, and limited regulation means that some institutions charge high interest rates or transaction costs (Sonakia). In this situation, while non-traditional banking is what is accessible for impoverished women in rural areas, it has also led to debt traps with women being harassed by creditors (France 24). This is not an ideal situation and does not assist in empowering these women. However, seeing as how traditional banking is simply not an option for most of these women, non-traditional methods must be utilized. Microfinance has the right idea in what they are doing, it is simply that the operation of it has had negative consequences. This could be likened to AQAH as while it may be the only option for Lebanese citizens, AQAH also allegedly illicitly moves funds which could increase sanctions on Lebanese institutions. Therefore, while it is an accessible option for Lebanese citizens, the way the bank operates means that it …

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Alleged Competitive Disadvantage of the EU AI Act

Alleged Competitive Disadvantage of the EU AI Act The European Parliament has approved the AI Act which is a comprehensive framework that attempts to address the risks that AI presents. While countries like the US and China have made some attempt at regulating AI, the EU’s AI Act goes further and is the world’s first set of binding requirements to mitigate AI risk. Enza Iannopolla, principal analyst at Forrester, believes that this would make the EU the standard for trustworthy AI and other countries would attempt to reach the same level (McCallum et al.). An important consideration for the EU is that while this legislation may be the leading of its kind, the US- followed by China- dominates when it comes to AI. While these regulations may promote trustworthy AI, there is also the risk that it would limit the creation of AI in Europe. The AI Act could create a competitive disadvantage for Europe as companies may be more inclined to develop in regions with less strict regulations and the regulations could limit European companies (Ditsche and Mikhaylenko). On the other hand, the regulations could also aid in increasing Europe’s soft power as the AI Act requires companies with generative AI tools to disclose the material they use to train their AIs (McCallum and Vallance). AI has gotten a bad reputation for using copyrighted material and the Act could improve the perception of AI amongst artists and generate goodwill towards the EU for tackling the problem. Leader in AI Regulation The EU wants to promote trustworthy AI and the AI Act allows them to do so while also placing themselves in an influential position which could generate AI activity in Europe. Regulating AI is not a new concept, although its implementation has been slow. For instance, in April, the UK and the US signed a Memorandum of Understanding in order to work together to test advanced AIs (UK Gov). The largest AI firms are cooperating with the idea of regulation, but the fact remains that till now regulators have not implemented any significant restrictions on the companies’ goals or asked for the data they use to train their AI (McMahon and Kleinman). The AI Act is meant to establish the EU as a leader at the forefront of AI, and it is succeeding as countries like the UK are recognizing the advancements the EU is making. This could be a sore point for the UK; they currently have more funding in AI safety than any other government but they have been overtaken by the EU for risk mitigation regulation (Vallance). Post-Brexit tensions still exist and considering a large motivator of leaving the EU was the ability to take back control, there may be pressure internally for the government to show that they are capable of outperforming the EU. The government wants to use their newfound freedom and create policy, but unless this is exercised in a way that places the UK in a comparable position to the EU when it comes to AI regulation, then perhaps the benefits of Brexit are not to be found in this area (Marshall and Goss). There was a study that showed that regions who were early in creating ideas in new scientific fields, had an innovation advantage in those fields over time. The study covered fields like AI, and found that the EU was significantly behind the US in terms of their innovation advantage (Filimonovic et al.) Considering the study set out that early leaders in scientific innovation had an advantage in technological innovation, it would perhaps take more than was reasonable for the EU to catch up to the US in the traditional way. By focusing on risk mitigation regulation, the EU is using considerably less resources and taking an unconventional route to lead the market. World’s Unicorn Capital The US is leading the field when it comes to AI and the EU is attempting to level it by introducing the AI Act. There are those who believe that the AI act will limit the EU’s advancement and place them at a competitive disadvantage. However, it needs to be kept in mind that the US is also attempting to regulate AIs. For instance, President Biden declared an executive order requiring data sharing from AI developers to the government (McCallum et al.). Senator Wiener in California even authored a bill that would introduce AI regulations but it faced opposition from tech companies and was blocked by Governor Newsom as he believed that it would reduce innovation and developers may move out of the state (Silva). These criticisms are the same as those that the EU AI Act has received, and they are not completely unfounded. For instance, OpenAI CEO Altman initially made threats on leaving the EU due to the planning of the AI Act as he believed it would be overregulation (McCallum and Vallance). Nevertheless, regulation is important especially considering what AI is capable of. For example, OpenAI has developed a voice cloning tool but made a decision not to release it due to the risks that it presents, particularly in election years. In fact, in January this year, a fake AI-generated robocall purportedly from President Biden asked voters to skip a primary election (McMahon and Kleinman). This may be why Governor Newsom has been signing other bills focusing on misinformation and deep fakes- his blocking of the AI safety bill did not mean that he does not understand the risks that AI presents (Silva). In conclusion, the EU’s AI Act may place them at a competitive disadvantage due to the regulations it enforces on AI developers, but it is clear that other countries have similar worries over the risks involved with AI. While others may be slower to regulate due to the concerns over hindering innovation, they will eventually need to and it could be beneficial to the EU to have a framework prepared and not be in a situation where the aforementioned risks do materialize and they can only legislate …

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Top 5 reasons why Amazon gift cards make the perfect gift in 2024

Top 5 reasons why Amazon gift cards make the perfect gift in 2024 With endless options and a world that’s more connected than ever, how do you choose a present that’s both thoughtful and convenient? Enter Amazon.ae Gift Cards – the unsung heroes of modern gifting. In 2024, it’s not just about giving a gift – it’s about giving an experience, and gift cards for Amazon have evolved to make that experience special. Amazon.ae gift cards are a fantastic solution that takes the guesswork out of gifting, offering a blend of personalisation, convenience, and endless possibilities. Let’s dive into why these gift cards for Amazon are not just a fallback option but the ultimate gift choice this year. 1. Infinite Possibilities, Thoughtfully Packaged Imagine sending someone on a virtual shopping spree where they can pick exactly what they want – that’s essentially what Amazon.ae Gift Cards offer. With access to millions of products on Amazon.ae, from the latest tech to niche hobbies, recipients can find something genuinely meaningful. This makes the gift card more than just a financial value; it’s a pathway to discovering products that suit their unique tastes. Choices that span everything from home essentials and personal care products to the latest gadgets, recipients can shop from the comfort of their homes. 2. Unmatched Convenience For Giver And Receiver In the daily hustle, convenience isn’t just a luxury – it’s a necessity. Amazon.ae Gift Cards offer a seamless gifting experience from start to finish, thanks to its seamless and user-friendly interface. Purchase gift vouchers online and have them delivered instantly or schedule them up to a year in advance. Redeeming them is a breeze too: Locate the claim code. Go to Redeem a Gift Card on Amazon.ae. Enter your claim code and click Apply to Your Balance. It’s that simple! 3. Double The Savings With Exclusive Discounts Who says you can’t save while giving? When you purchase Amazon.ae Gift Cards from Sav, you can enjoy cashback along with additional rewards with the Sav card. That’s extra savings in your pocket while giving someone the joy of shopping on Amazon.ae. It’s a win-win situation that makes these gift vouchers an even more attractive option.   In addition, unlike other gifts that come with expiration dates or hidden fees, Amazon.ae Gift Cards carry no fees and are valid for 10 years from the date of issuance. This extended validity gives your loved ones ample time to find that perfect item they have been eyeing. It’s a gift that keeps on giving long after other presents have been forgotten. 4. A Customisable Gifting Experience Gifting in 2024 is all about personalisation. Amazon gift vouchers take personalisation a notch higher with a variety of customisable designs and denominations. Whether for a birthday, holiday, or to express gratitude, you can match the card to the occasion and even choose the amount that best fits your budget. Schedule deliveries for special dates or send them immediately for those last-minute gifting needs. Imagine your loved one waking up on their birthday to find a beautifully designed gift card waiting in their inbox – it’s an effortless way to bring a smile to someone’s face. 5. Cross-Border Flexibility: Ideal For International Gifting Living in a globally connected world means that families and friends are often spread across different countries. Amazon gift vouchers make for a fantastic cross-border gifting solution. Available not only in the UAE but also in Oman, Kuwait, and Bahrain, these gift cards provide a unique opportunity for international gifting without the hassle of shipping logistics. Your loved ones across borders can enjoy shopping for their favourite items without worrying about additional delivery or currency issues – making Amazon.ae gift cards the go-to gift for bridging distances. With the growing need for gifts that offer both flexibility and personalisation, Amazon.ae gift cards stand out as the perfect choice for 2024, providing a valuable experience for everyone involved. More than just a simple gift, these gift cards turn simple vouchers into gateways for personalised happiness. So the next time you are searching for a gift, remember that the answer might just be an Amazon.ae gift card from Sav, easily available on the iPhone or Android platforms. Ready to make someone’s day? Explore the range of gift cards for Amazon.ae available at Sav and take advantage of exclusive discounts today! FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, UAE, with registration number # 5474. Through our banking partnership with Mashreq Bank, VISA and NymCard, we provide VISA prepaid cards. 3. Does Sav issue bank accounts? No, Sav does not issue any bank accounts. Instead, Sav offers prepaid Visa cards issued by our partner bank, Mashreq Bank PSC, pursuant to their license from Visa. The money in your savings goals is always held with our partner bank in your individual Sav Card.  4. How is my Mashreq account different to the Sav account? At Sav, we do not issue any bank account. It’s a prepaid Visa card. Share article Instagram Linkedin Facebook-square Twitter-square

Kemi Badenoch’s Fundamental Misunderstanding

Kemi Badenoch’s Fundamental Misunderstanding Maternity pay has “gone too far” according to Kemi Badenoch, who is running to be leader of the British Conservative Party. After experiencing severe backlash, she is now claiming that she was misrepresented and her comments were regarding cutting the regulatory burden on businesses (Francis). While Badenoch uses her status as a mother to showcase how she is a supporter of maternity pay, she seemingly fails to realize that reducing this burden on businesses would mean that statutory maternity pay is also reduced and so she is, in fact, advocating for reduced maternity pay. Excessive Function Of Tax Moreover, contrary to Badenoch’s belief that maternity pay is an excessive function of tax, statutory maternity pay is the only maternity pay that is legislated for- UK employment law does not give those pregnant any further rights regarding pay on maternity leave (UK Gov). The only way that this would be a burden on businesses is if none of their employees were ever pregnant due to potentially either discriminatory hiring practices or a toxic work culture and so the business would never be under an obligation to provide maternity pay. Further, the function of tax is to improve public infrastructure and unless one is against empowering women to remain in the workforce, improving infant health, and reducing symptoms of postpartum depression it seems inane to believe this is outside the remit of the British government which provides public healthcare (Maven). While Badenoch also believes that people need to have more personal responsibility, as she states there was a time when there was no maternity pay and people were having more babies, she needs to be more conscious of shifting societal norms and trends (Francis). As a society, we are moving into a time where ESG is becoming increasingly relevant and there is an expectation that companies support their employees. There is a financial burden associated with children and Britain’s falling fertility rate can likely be linked to austerity (Robinson). With the cost of living crisis and the fact that in 2023 UK was forecasted to be the only major economy to shrink, it is natural for people to be reluctant to grow their families and it is an example of them displaying personal responsibility. Accessible Entry Into The Workplace   Women deserve to have accessible entry into the workforce and a means to gain financial independence without being constrained due to inequality in the workplace. They should have an equal right compared to men to pursue work opportunities and advance their careers- a public infrastructure which supports this not only empowers women but also bolsters its economy. For instance, companies who are more diverse are reported to be more likely to have returns above national industry medians (Hummel). While this may not be a result of causation, research also shows that when women can earn and control their earnings, their children are more likely to be educated and their household income grows which in turn grows the economy (Gates Foundation). Aside from the economic impact, women’s economic empowerment also leads to a reduction in gender-based violence, increased political participation, and assists in disaster risk reduction (UN Women). Empowering women and enabling them to access the workplace through measures like legislating for maternity pay has positive benefits for society on every level. Societal Implications Research shows the positive impact of maternity leave on infant mortality rate and maternal stress, and maternity pay enables those pregnant to access these resources available to them. However, taking a long leave increases the risk of being fired or demoted and affects co-workers’ perception of how committed they are to their job. This bias was not restricted to men but was seen in both genders which helps explain how Badenoch, as a mother, can advocate against maternity pay and for increased personal responsibility (Hideg et al.). These negative effects on one’s prospects in their workplace defeats some of the purpose in providing maternity leave and pay as mothers will still need to make a choice between using it and suffering the negative impact on their career, or prioritizing their livelihood. In fact, a study by Harvard Business Review showed that those who have a career break due to being fired are more likely to be called to interview then those who have a career break due to childcare (UMA). It seems ridiculous and yet it is clear that there are negative connotations attached to those pregnant utilizing their right to maternity leave and pay. It is overwhelmingly clear that maternity leave and pay is important to empower women and for societal improvement, but it can be difficult to make advancements due to the negative connotations associated with maternity leave. When the call is also coming from inside the house, from mothers like Kemi Badenoch, it becomes evident the barriers that need to be removed before ensuring equal rights in the workplace. It is vital to remember that maternity leave and pay is important and that it has a tangible positive impact on parents and children. FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, UAE, with registration number # 5474. Through our banking partnership with Mashreq Bank, VISA and NymCard, we …

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The Rise Of Prepaid Cards: A Smarter Way To Save And Spend In The UAE

The Rise Of Prepaid Cards: A Smarter Way To Save And Spend In The UAE Say goodbye to debt and unexpected fees! As cashless payments take over, prepaid cards are quickly becoming the go-to option for UAE residents seeking security, convenience, and flexibility. The prepaid card market is a dynamic and rapidly evolving landscape within the payments and financial services industry. Why are prepaid cards gaining popularity in the UAE? According to the UAE Prepaid Card and Digital Wallet Business and Investment Opportunities Databook, the prepaid card market in the UAE has increased at a CAGR of 9.2% from 2019 to 2023. The market is further expected to record a CAGR of 12.3%, increasing from US $5.66 billion in 2023 to reach US $10.30 billion by 2028. A few factors that have bolstered the growth of prepaid cards and digital wallets in the Emirates include: UAE’s advanced technological infrastructure, Thriving e-commerce industry and a booming fintech market, and Digital savvy population with a high smartphone penetration. The UAE’s diverse population and its status as a global travel and business hub address the demand for diverse prepaid travel cards. Why does the Sav Card stand out? Safe and secure – One of the primary reasons why the Sav Card is becoming a suitable payment option is the added layer of security it offers. Prepaid cards offer the utility of traditional debit or credit cards without the commitment of linking your account. This ensures your funds are safe. Since you can only use the amount loaded onto the card, it also becomes easier to track each Dirham spent. Stay free of a debt trap – Prepaid cards, like the Sav Card, enable you to enjoy financial freedom without the hassle of hidden charges, interest rates or debt worries. These cards are accessible to everyone, irrespective of their financial background. Use the Sav Card card both locally and internationally at over 80 million merchants without any minimum balance requirements. Mitigates overspending – Prepaid cards are a viable alternative that is easy to use and reload. Cards like Sav offer an AI-based money management platform to track your personal spending to the nearest Dirham and help you budget. Cashback and rewards – With a prepaid card like Sav, enjoy rewards or cashback on every purchase you make. Maximise your savings and enjoy perks like two ATM withdrawals a month. Enjoy lucrative cashback offers with Sav and save more using Amazon.ae or Noon Gift Cards. Gifting requirements – Virtual prepaid gift cards are sent to the recipient via email or text message. They can be delivered almost immediately, making them a great option for last-minute gifting. Senders can customise the gift card based on the special occasion, and receivers can use it to purchase a product of their liking. Hence, it is a win-win situation for both.    Seamless integration into digital wallets – Technological advancements play a significant role in shaping the prepaid market. Integration with digital wallets such as Apple, Google, and Samsung, or any e-commerce platform further expands the usability of prepaid cards. The Sav Card is more than just a prepaid card. It can help you become financially independent and achieve your long-term goals. It is available on iPhone and Android as a user-friendly platform to help you secure your financial future. FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, UAE, with registration number # 5474. Through our banking partnership with Mashreq Bank, VISA and NymCard, we provide VISA prepaid cards. 3. Does Sav issue bank accounts? No, Sav does not issue any bank accounts. Instead, Sav offers prepaid Visa cards issued by our partner bank, Mashreq Bank PSC, pursuant to their license from Visa. The money in your savings goals is always held with our partner bank in your individual Sav Card.  4. How is my Mashreq account different to the Sav account? At Sav, we do not issue any bank account. It’s a prepaid Visa card. Share article Instagram Linkedin Facebook-square Twitter-square

Unlock Big Savings On Your Dubai Trip With Sav’s Smart Booking Tips

Unlock Big Savings On Your Dubai Trip With Sav’s Smart Booking Tips Larger-than-life skyscrapers, luxurious shopping malls and traditional souks, adventurous safaris on golden dunes with a Bedouin-style dinner, and the breathtaking view of the Palm – No wonder Dubai is one of the most famous tourist destinations in the world! All this makes travel packages to Dubai sound expensive. However, it doesn’t have to be! If you have been dreaming of a Dubai adventure, and finances are the only thing holding you back, Sav’s Card has you covered!  Book travel packages to Dubai to save big Visit during shoulder season – The best way to get around the excessive summer heat of Dubai is to book your holiday package during the shoulder season – the period just before or after the off-season to get discounted rates. This means you can visit this tourism hub primarily in May or September. Book an off-season flight – Flight tickets to Dubai can be pricey, often costing half the trip’s budget. Visiting in May or September is the window you would want to hit when the flights are reasonably priced and fewer tourists visit. Don’t worry – you will still be able to enjoy Dubai’s dynamism and opulence. Cut down on the stay expense – The five-star hotels in Dubai are grand – Burj Al Arab, Marina Bay Sands, and Atlantis The Palm, to name a few. While staying in these hotels is truly dreamy, it could come at a hefty price. Therefore, if you are visiting for a short duration, you can opt for hostels or affordable accommodations around the city centre or metro stations to save on commute expenses. Public transport is your go-to – Dubai is famous for its posh rides and top-tier luxury cars. As enticing as those rides sound, they come at pocket-pinching prices. Dubai is well-connected by its intricate network of metros. So, you can always travel by public transport and absorb the best of the city like a local. If you want to plan a budget-friendly trip to Dubai, Sav can be your best option. Use Sav’s Card for cashback on travel purchases – With Sav’s Card, you can earn cashback on every purchase, such as flight tickets, hotel stays, or guided tours. Since 80 million merchants accept the Sav Card, stay worry-free about transaction limits or foreign exchange rates. Leverage Sav’s digital wallet integration – Sav’s Card is the perfect travel companion because you can integrate it easily with Apple Wallet, Google Wallet, or Samsung Wallet. This is especially useful for making quick and instant payments or last-minute bookings. Track your personal spending in real-time – With the cost of travel adding up, holiday packages account for various miscellaneous purchases. Stay on top of your expenses with Sav’s AI-powered money management platform, which allows real-time tracking and budget-monitoring. From flight tickets to meals and shopping, Sav MyMoney auto-categorises your expenses into over 15 categories to know where each Dirham is spent. The gift that keeps giving – Send your dear ones on holiday or book one for yourself and get amazing discounts with the Desert Adventures Tourism travel gift voucher. Experience the yacht cruise, Marina Dhow cruise, and the best of Dubai.  Set a daily spending limit – Do you feel you might overspend on your vacation? Don’t worry. You can set a spending limit to track your expenses. You will be notified whenever you near that limit.  Booking a travel package to Dubai doesn’t have to be stressful or expensive. With Sav, you can save big, earn rewards, and automate your financial goals – all while enjoying a seamless holiday booking experience.  So, what are you waiting for? Download Sav on your Android or iPhone and start planning your Dubai adventure while staying on top of your finances.  FAQs 1. What is Sav? Sav is a money-management app, allowing you to stick to your money goals, plan for the future, and spend confidently in the present.Your Sav card helps you meet your goals – just connect your bank account, top up your Sav card, choose goals you would like to set aside money for, and apply rules that automatically allocate funds toward your goals. The money set aside for your goals is safe. It is always available on your prepaid card and held with our partner financial institutions licensed by the CB UAE.You can use your Sav card to get additional rewards and cashbacks while spending. Check out our offer page to find the latest deals and promotions. 2. Is Sav a bank? No, ‘Sav Technologies Limited’ is a technology company registered in the Dubai International Financial Centre, Dubai, UAE, with registration number # 5474. Through our banking partnership with Mashreq Bank, VISA and NymCard, we provide VISA prepaid cards. 3. Does Sav issue bank accounts? No, Sav does not issue any bank accounts. Instead, Sav offers prepaid Visa cards issued by our partner bank, Mashreq Bank PSC, pursuant to their license from Visa. The money in your savings goals is always held with our partner bank in your individual Sav Card.  4. How is my Mashreq account different to the Sav account? At Sav, we do not issue any bank account. It’s a prepaid Visa card. Share article Instagram Linkedin Facebook-square Twitter-square

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