In a recent episode of "Destination Abu Dhabi," Kris Fade welcomed Helal Tariq Lootah, Lune's co-founder and co-CEO, for a meaningful conversation. They talked about Helal's journey from his legal profession to leading a Future 100 fintech startup. They also discussed Lune's influential role in transforming the fintech landscape in the Middle East and the UAE's contribution to empowering that journey and making it a reality. Here, we summarize some key highlights from their talk and we will add a link at the end of this blog to their interview for those of you interested in watching the full episode
Helal's professional journey is as intriguing as it is inspiring. Initially going through a successful path in law, Helal made an uncommon career shift that led him to get into fintech. His decision to enter fintech was driven by a vision to have an impact on the financial industry
Lune was born from Helal's firsthand experiences in the legal field, where he saw a recurring pattern of financial challenges faced by average individuals. The problem was that the majority of people struggled to understand their spending patterns and often made financial commitments beyond what they could actually afford. In the worst cases, these cases escalate to legal disputes
These observations sparked a realization of the crucial need for better financial management tools. Driven by this insight, he set out to create Lune, a platform designed to simplify financial data and empower both businesses and individuals with clear, actionable insights, thereby making finance more accessible and understandable for everyone.
What Lune is known for is how it transforms complex financial data into understandable, actionable information, helping both individuals and institutions make more informed decisions.
At the most basic level, Lune's enrichment engine changes the way we see our mobile banking account statements by adding categories, and sub-categories, and enriching transaction data with brand names and logos. For institutions, this means enhancing their user's overall experience and offering deeper insights into their spending habits. Banks could use this data to create hyper-personalized products to increase their users' engagement.
For the everyday individual, this transformation is equally valuable. The next time you buy a cup of coffee at Starbucks. Instead of your account statement displaying a cryptic abbreviation like 'ALSHAYAX1MF', it will clearly show 'Starbucks', complete with its recognizable logo, the exact location, category, and time of the transaction. Which adds alot to the user experience, allowing you to understand your spending at a single glance, and adding a new level of simplicity and transparency to personal finance.
But Lune's offerings go beyond enriching banking account statements. Lune offers an abundance of financial solutions like AI-powered analytics, money manager tools, and other solutions that help brands have a deeper understanding of their customer's spending habits. Although banks and fintechs are Lune’s main clients, lifestyle, and e-commerce brands found Lune's offerings helpful too. They're using Lune’s enrichment engine to gain insights to design marketing campaigns that truly connect with their customers on a personal level.
In our upcoming chapter, we'd like to create an environment where financial clarity and empowerment are accessible to all, fundamentally changing how individuals and businesses interact with their finances.
Helal also spoke about the importance of adaptability and continuous improvement in fintech. As Lune grows, it aims to stay ahead of tech advancements, making sure that its offerings remain relevant and impactful in an ever-changing financial landscape.
We've only scratched the surface of the stories shared in the interview. To dive deeper into the discussion and gain a fuller understanding of Helal's vision and the strides Lune is making in fintech, we encourage you to watch the complete interview.
Watch the full interview here
Turningan industry gap into a genius fintech idea! - YouTube
Mobile banking is continually evolving to meet the expectations of a tech-savvy generation. In 2024, banking apps are transforming into comprehensive platforms that combine daily financial management with user-friendly design and intelligent features.
