Omani fintech start-up launches a new app ‘Raaz’ to enlighten individuals on how best to manage their household finances

Do you struggle in managing your household finances – juggling monthly budgets, unforeseen expenses that demand liquidity, as well as long-term investments that need regular monitoring? You will soon unravel a well-kept ‘secret’ that enables one to shine as a personal finance manager.

Help is now available at the fingertips of those individuals who need to efficiently manage their own finances, with cues that have been researched by experts, output that has utmost confidentiality, and total control by the user.

In a market increasingly shaped by digital solutions, an Omani fintech startup is positioning itself at the intersection of technology and everyday financial decision-making with the official launch of ‘Raaz’, a new mobile application designed to help households better understand and manage their finances.

Developed by Raaz – formerly AiN Technologies – the app was officially launched on April 19, following an initial testing phase. The rollout comes at a time when families are typically planning for seasonal expenses, from summer travel to school-related costs, giving users an opportunity to approach spending with greater structure and foresight.

The name ‘Raaz’ carries a dual meaning in Arabic – ‘to weigh’ or ‘measure value’, as well as ‘secrets’ – reflecting the platform’s core philosophy of enabling balanced financial decisions while uncovering insights hidden within personal financial data.

Speaking to Muscat Daily, founder Daanish Khan said the idea for Raaz emerged from a personal experience.

“We sat down with our bank statements and mobile apps and tried to make sense of it all,” Khan said. “We realised that although we had saved some money, we didn’t really know what to do with it. We needed clarity.”

That moment, he explained, revealed a broader gap affecting many young families in Oman – a willingness to manage finances more effectively but also a lack of accessible tools to translate that intent into action.

Since its launch, the app has recorded early traction, surpassing 250 downloads within the first few weeks with minimal marketing. More notably, user engagement has been strong, with early adopters actively uploading bank statements, reviewing spending patterns and setting budgets.

Unlike many traditional personal finance applications that rely on manual data entry, Raaz simplifies the process by allowing users to upload bank statements directly. The platform then automatically categorises transactions and generates insights based on actual spending behaviour.

Among its standout features is a ‘Financial Health Score’, which provides users with a snapshot of their financial position, alongside personalised budgeting recommendations. The app also integrates a partner ecosystem offering discounts across sectors such as healthcare, dining and wellness, linking financial awareness with tangible savings.

“Personal finance can often feel overwhelming,” Khan said. “One of the strongest pieces of feedback we’ve received is that Raaz makes financial awareness easier and more accessible.”

Data privacy and security, he added, have been central to the platform’s design. The company uses local hosting, encryption protocols and anonymisation techniques to safeguard user information. Importantly, bank statements are not permanently stored and can be deleted after processing, while users retain full control over their data.

Raaz has already begun building partnerships within the financial sector, with Sohar International becoming the first bank to promote its products through the platform. Discussions are also ongoing with other banks and with the Central Bank of Oman, particularly around enhancing financial literacy and inclusion.

Looking ahead, the company is preparing to roll out new features, including Arabic language support and enhanced tools for tracking savings and investments. While the immediate focus remains on strengthening its presence in Oman, Raaz is also evaluating opportunities for regional expansion in the coming years.

As fintech adoption accelerates across the sultanate, platforms like Raaz highlight a growing shift – from simply tracking expenses to enabling smarter, insight-driven financial decisions at the household level.

“People don’t just need to see their personal finance figures – they need to understand their implications and the options before them,” he asserts.