Sav, co-founded by Mithil Ajmera, came to life through a personal journey of recognising many individuals’ financial struggles. Ajmera and his team noticed how managing money, while essential to everyday life, can be overwhelming, especially in regions like the GCC, where financial literacy is still developing. “We saw a gap across various sectors,” recalls Ajmera, “there are plenty of options when it comes to spending and investing, but very few tools exist that truly support smart, sustainable, and engaging money management.”
Sav wasn’t just designed to be another financial management app; it was envisioned as a platform that empowers users to take control of their financial futures. The team focused on understanding their audience—their cultural habits, spending patterns, and challenges.
The concept of Sav evolved into the creation of ‘MyMoney,’ a tool designed to offer a comprehensive view of users’ finances by integrating multiple bank accounts into one platform. Ajmera explains that the fragmented nature of financial services in the GCC was a significant driver in the platform’s development.
This consolidation of financial information empowers users to make informed decisions about their money. “We found that many people didn’t realise how small, everyday expenses could add up so quickly. MyMoney helps users understand where their money is going, and that’s a crucial step in managing finances effectively,” says Ajmera.
The platform goes beyond simple tracking, with features allowing users to analyze cash flow, monitor subscriptions, and even receive notifications when overspending in specific categories. Ajmera and his team spent considerable time ensuring that MyMoney was functional and highly user-friendly.
The challenge Sav faced was presenting complex financial data in a way easy for everyone to understand, even those with limited financial knowledge. We wanted users to be able to make sense of their financial situation and take action instantly. The interface was designed with clarity in mind, making sure that the information presented is not only accessible but also actionable. One of MyMoney’s most valuable aspects is its ability to give users deeper insights into their spending habits. MyMoney shines a light on these overlooked expenses, giving users the tools to make meaningful changes.
By offering real-time data analysis powered by AI, the platform helps users track their expenses, anticipate financial trends, and adjust accordingly. Sav has positioned itself as a unique player in the crowded fintech landscape. Others offer budgeting tools , but none offer the holistic view of a user’s finances as MyMoney does.
“We’ve built a platform where users can connect all their bank accounts, get real-time insights into their spending, and use AI-powered analytics to make smarter financial choices. This goes beyond budgeting—it’s about giving people control over their financial future.”
Security is crucial when managing personal finances, and Ajmera assures Sav takes this responsibility seriously. “We’ve integrated industry-leading payment gateways like Amazon Pay and Payfort to ensure secure transactions. We also conduct regular security penetration testing through third-party agencies to identify and address potential vulnerabilities.”
Furthermore, Sav has made it easy for users to control their data. “Users can revoke access and remove all their data from the app directly, without paperwork or lengthy procedures,” Ajmera points out.
As Sav looks to the future, Ajmera and his team are excited about the growth potential. “We’re constantly exploring ways to enhance the platform,” he says. “With MyMoney as our foundation, we’re working on adding features that will give users even deeper insights into their financial behaviour.” These new tools will help users optimise their spending, save more effectively, and achieve greater financial independence.
Ajmera also sees a bright future for fintech in the UAE, with artificial intelligence playing a significant role. “The future of fintech in the UAE is going to revolve around AI and real-time data analysis,” he explains. “We’re already using AI to provide insights through MyMoney, but the potential to leverage AI for more advanced pattern detection and personalised recommendations is immense.”
For Sav, the journey is just beginning. As fintech continues to evolve, Ajmera is confident that Sav will remain at the forefront, providing users with the tools they need to manage their finances effectively and achieve long-term financial stability. Sav committed to ensuring our users have access to the most cutting-edge tools for managing their finances. The more control they have, the more they can grow.
