Personetics accommodates challenger banks
Cognitive analytics company Personetics has traditionally served larger banks, but now the company launched a new offering that makes its solutions more accessible for smaller digital-only and challenger banks, reports Julie Muhn at Finovate.
The company says its new offering provides a highly customisable, pre-packaged application, lowering barriers for smaller banks to implement artificial intelligence (AI) powered banking services.
Founded in 2010, Personetics leverages predictive analytics to help banks anticipate their clients’ individual needs.
The implementation, which takes under three months, is designed to work with banks with limited resources. To meet these requirements, the new software package offers:
- Pre-built banking content: the offering includes hundreds of pre-built insights, financial tips, and personalized advice that the bank can easily modify and control.
- API-first approach: Personetics uses open APIs to integrate AI functionality into a bank’s digital banking experience and allows banks to create their own brand identity and customer engagement strategy.
- Editing tools: these tools allow the bank to retain control over the content and develop new capabilities to support its own business goals.
- Fast time-to-market: Personetics delivers a production-level solution in just three months.
Among the first challenger banks to leverage Personetics’ new software package is UK-based Tandem.
The company was founded in 2011 and has received $18 million in total funding. Personetics recently onboarded Romania’s Banca Transilvania to offer AI-powered, forward-looking financial guidance to the bank’s clients.
The company offers more than 4.3 billion personalised interactions to more than 45 million end customers across the globe.