moLotus, a mobile video customer interaction platform by Novosol, has entered into a strategic partnership with Saudi Excellence Co., a leading retail and next-generation digital company based in Riyadh, with the aim to enable massive digitization, innovation and transformation in the telecom, banking and esports sectors in Saudi Arabia. The focus is on innovation and creation of new revenue streams — generating around $1.4 billion revenue in the coming three to four years.
The partnership comes at a time when Saudi Arabia has become the market with the largest mobile marketing potential in the Middle East. The number of mobile connections in the country increased by 1.3 million between 2021 and 2022, according to DataReportal. Moreover, 53 percent of the total ad spend in the Kingdom’s digital advertising market will be generated through mobile by 2026, as reported by Statista.
Novosol, a global mobile technology company with strong footprints in Asian countries, will now enter the Saudi Arabian market with its unique platform moLotus, offering mobile advertising and cutting-edge digital transformation. This will enable new revenue generation, cost reduction, customer acquisition and retention, customer lifetime value maximization, process automation and much more.
moLotus is also helping telcos and brands in driving consumer revenues and creating new revenue streams in customer interaction, transformation and advertising. It has partnered with various renowned telcos across Asia such as Indosat Ooredoo, Vodafone, Airtel, Celcom, Digi, and more. Marquee brands like Samsung, HDFC, Panasonic, Standard Chartered, HSBC, L’Óréal and Amazon are already using the platform to drive their marketing and transformation initiatives.
Minhaz Lokhandwala, founder and CEO of Novosol, envisions transforming customer interaction and generating high revenues for brands and telco partners via moLotus.
His technically advanced management experience and business intelligence, along with strong leadership qualities and a focus on large-scale IT solutions, is the force behind Novosol’s success across Asia.
Saudi Excellence Co. operates in the technology, artificial intelligence and fintech sectors and presently represents many of the world’s leading high-tech companies in the Kingdom, managing and fulfilling the demands fueled by a predominantly young population, telcos and carriers.
Saudi Arabia was recently named the “top digital riser” among the G20 countries due to the comprehensive support for digital transformation in the Kingdom as part of Vision 2030. The country is fast replacing traditional processes with digital ones, achieving quality, agility and efficiency. The partnership between moLotus and Saudi Excellence Co. will further help achieve the goals of digital transformation.