To enable significant Digitization, Innovation, and Transformation in the Telecom, Banking, and eSports sectors, moLotus, the mobile video customer engagement platform, has formed a strategic agreement with Saudi Excellence, a prominent retail and next generation digital company situated in Riyadh. The emphasis is on innovation and the establishment of new revenue streams, which are expected to generate roughly USD 1.4 billion in revenue over the next three to four years.
Novosol-Saudi Excellence Partnership for the moLotus Platform
The partnership comes into existence at the time when Saudi Arabia becomes the market with the largest mobile marketing potential in the Middle East. The number of mobile connections in Saudi Arabia increased by 1.3 million between 2021 and 2022 (source: DataReportal). In Saudi Arabia’s digital advertising market, 53% of total ad spending will be generated through mobile by 2026 (source: Statista).
Novosol, a global mobile technology business with a strong presence in Asia, is now expanding into Saudi Arabia. Novosol’s unique platform moLotus enables new revenue creation, cost savings, client acquisition and retention, customer lifetime value maximization, process automation, and much more through mobile advertising and cutting-edge digital transformation. In Customer Interaction, Transformation, and Advertising, moLotus assists Telcos and Brands in increasing Consumer Revenues and generating New Revenue Streams.
Indosat Ooredoo, Vodafone, Airtel, Celcom, Digi, and other renowned telcos in Asia have teamed with moLotus, a proven engagement and transformation platform. The platform is already being used by marquee brands such as Samsung, HDFC, Panasonic, Standard Chartered, HSBC, Loreal, and Amazon to drive their marketing and transformation projects.
The Founder and CEO of Novosol, Minhaz Lokhandwala, anticipates moLotus revolutionizing consumer engagement and producing significant revenue for Brands and Telco partners. Novosol’s success in Asia is due to his technically superior management knowledge and business intelligence, as well as excellent leadership characteristics and a focus on large-scale IT solutions.
Saudi Excellence Company, based in Riyadh, is a technology, artificial intelligence, and fintech company that currently represents many of the world’s leading high-tech companies in Saudi Arabia, managing and fulfilling demand fueled by a predominantly young population, as well as telecommunications companies and carriers.
Saudi Arabia was recently dubbed the “top digital riser” among G20 countries, owing to the Kingdom’s extensive support for digital transformation as part of Vision 2030. Traditional procedures are being replaced with digital ones in Saudi Arabia, resulting in increased quality, agility, and efficiency. This collaboration has the potential to aid in the overall goal of digital transformation.