News

MALY Is Helping To Fuel Saudi Arabia’s Fintech Revolution

The KSA is rapidly becoming a MENA fintech leader, and next-gen digital savings platform and money mentor app MALY is one of its key players.

Published

1 year ago

October 10, 2023

Nour Nasir

MALY

Despite nearly 100% smartphone penetration and a growing awareness of digital platforms, Saudi Arabian officials are concerned by the lack of financial education and the accessibility of financial wellness advice.

Founded in 2022, fintech startup MALY aims to plug this gap, providing users with a financial wellness platform that helps cultivate better money habits, plugging crucial gaps in Saudi Arabia’s struggling consumer savings sector. Mo Ibrahim, MALY’s co-founder and CEO, described the current climate in the KSA:

“Various estimates cite up to 70% of the Saudi population as having no savings […] despite the reality of immense economic challenges. People need help in building healthier relationships with their finances, and fintechs can provide the necessary tools and platforms to enable individual financial wellness”.

Ibrahim says fintech growth in Saudi Arabia will also be aided by the country’s National Fintech Strategy (SNFS). The initiative aims to drive fintech innovation, increase the number of startups in the Kingdom to 230, and grow digital transactions by 70% by 2025.

Also Read: A Guide To Digital Payment Methods In The Middle East

MALY is uniquely positioned to help the KSA achieve its fintech vision. The company’s cutting-edge platform leverages data science and machine learning. According to CEO Mo Ibrahim, MALY is an essential toolbox that helps to automate and manage personal savings and investments while offering debt management tools and investment techniques.

As well as its current suite of financial tools, MALY is also planning an AI-powered Financial Stress Tracker, which will leverage Open Banking to identify patterns indicating financial stress while providing customers with personalized advice and education programs to help them manage their finances.

Related Topics:FinTech MALY Saudi Arabia

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News

Truecaller For iPhone Gets Real-Time Caller ID And Auto Spam Blocking

The latest update integrates with Apple’s Live Caller ID Lookup framework, launched with iOS 18 last year.

Published

2 hours ago

January 23, 2025

Nour Nasir

Truecaller

Truecaller has rolled out a major update for iPhone users, introducing API support that brings real-time caller identification and automatic spam blocking. The upgrade aims to bring the iOS version of the app closer to its Android counterpart, which has long offered these advanced call-screening features.

The latest update integrates with Apple’s Live Caller ID Lookup framework, launched with iOS 18 last year. The technology allows third-party apps to cross-check incoming calls against a database of known spam numbers in real-time. Importantly, the process employs “homomorphic encryption,” ensuring user privacy by masking the caller’s number, concealing the client’s IP address, and using anonymous authentication.

With this update, Truecaller has also introduced global automatic spam call blocking for iPhones. However, the real-time caller ID feature is being released gradually and is available only to Truecaller Premium subscribers on iPhones running iOS 18.2 or later. Free users will still have access to ad-supported features, such as manual number searches and caller identification for verified businesses.

How To Enable The New Features

To activate the new features, follow these steps:

Update the Truecaller app to version 14.0 or newer via the App Store.
Go to Settings > Apps > Phone > Call Blocking & Identification on your iPhone.
Turn on all Truecaller toggles, then restart the app.

Also Read: “AI Seal” Certification Now Required For Dubai Gov Partnerships

While these features are new to iOS, Truecaller has hinted at this update for months. Following Apple’s iOS 18 update and the introduction of its Live Caller ID API last September, Truecaller Co-founder Alan Mamedi shared his excitement on X (formerly Twitter), saying, “Truecaller finally works on iPhone”.

The global rollout of spam call blocking is already live, but users may need to wait for gradual access to the live caller ID feature.