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Personetics Leads the Cognitive Banking Revolution

In a transformative move for the banking industry, Personetics has emerged as a frontrunner in what is being termed the Cognitive Banking era. This innovative landscape revolutionizes the way financial institutions nurture and monetize customer relationships through new, cutting-edge capabilities driven by artificial intelligence (AI).

Shifting Paradigms in Banking

Recent trends indicate that the banking sector is undergoing a massive shift, influenced by heightened customer expectations for personalized experiences, advanced technologies like GenAI, and the growing prevalence of Open Banking practices. Recognizing these changes, Personetics is steadfastly committed to evolving its platform to support financial institutions in delivering superior services that resonate with modern consumers.

At the heart of this evolution is the introduction of product capabilities designed specifically to foster bank loyalty and increase sales by democratizing financial wellness. This AI-driven methodology empowers banks to build deeper, more personal connections with their customers, enabling them to make informed financial decisions and meet their objectives more effectively.

Enhanced Marketing through AI

One of the focal points of Personetics' latest offerings is its enhanced integration with marketing data systems. By marrying real-time, contextual offers to each customer's financial behavior, banks can transition away from outdated, segment-based marketing strategies. This AI-enabled approach ensures that clients receive personalized financial insights and offers precisely when they need them.

For instance, a financial institution might proactively present a home equity line of credit to clients who have recently increased spending on home improvements and display signs of impending balance challenges. This strategic shift not only promotes customer engagement but also enhances satisfaction and loyalty.

Open Banking Capabilities

As Open Banking continues to gain traction, Personetics is also enhancing its capabilities to drive account connectivity and effectively monetize external funds. By analyzing external financial activities, banks can present customized insights and product offerings to their customers. This addresses critical challenges in the Open Banking domain, such as encouraging account linking, refining and enriching customer data for comprehensive financial representations, and ensuring monetization of this data.

Personetics Labs: A Hub for Innovation

In its commitment to advancing AI innovation, Personetics has instituted the Personetics Labs—a center dedicated to developing next-generation AI capabilities. This innovative hub will engage directly with customers to explore and experiment with various AI applications, thereby enhancing data enrichment models and increasing banker productivity. Through this collaboration, the company aims to remain at the forefront of innovation in the Cognitive Banking space.

A Vision for the Future

Udi Ziv, the CEO of Personetics, passionately asserts that the company is dedicated to democratizing financial wellness. As the demand for personalized banking experiences increases, Personetics sees Cognitive Banking as a pivotal new phase characterized by the desire for a meaningful relationship between banks and their customers. The recently conducted global consumer banking survey, sponsored by Personetics, confirms this trend; it revealed that over 70% of consumers desire timely, contextual advice on spending and savings from their banks to support their financial aspirations. Even more striking is the fact that 84% of respondents indicated they would likely consider switching banks for access to such services.

The introduction of these innovative capabilities marks a significant leap forward towards achieving a meaningful revolution in the banking sector. With more than 150 million active monthly users worldwide, Personetics is well-positioned to realize its vision globally, reinforcing its commitment to offering impactful solutions tailored to the diverse needs of its customers.

For additional insights on Cognitive Banking, interested parties can download Personetics' new report titled "The Cognitive Banking Advantage: How an AI-Powered Customer Experience Drives Results."

About Personetics

Personetics is a pioneer in transforming how banks cultivate and monetize customer relationships. With a robust AI-powered platform, banks can dynamically respond to the evolving financial needs of customers by delivering relevant and timely insights. This approach not only enhances customer engagement but also significantly boosts loyalty. Operating across 35 global markets, Personetics is dedicated to supporting leading financial institutions, establishing itself as an industry innovator. Explore more at Personetics.