Personetics is well positioned to facilitate hyper-individualized consumer interactions with financial institutions and building societies.

The company is built to assist in identifying financial possibilities or warn clients of financial difficulties. It can improve customers' financial well-being and provide them with day-to-day financial advice. It can therefore enlighten both the bank and the client and result in more intelligent behavior.

Dorel Blitz, who has been with the organization for almost six years, has seen firsthand the advantages that, in his opinion, are propelling real client development for banks. While at London's QEII center for the MoneyLIVE Summit 2024, we had a conversation with him regarding Personetics' utilization of automation and artificial intelligence (AI) to assist clients in managing their finances proactively.

What clients anticipate from Personetics

"You see all of this hyper-personalization engagement when you actually connect into your desktop or mobile banking application. Personetics really drives insights, guidance, and savings tools, according to Blitz. "Through over 130 banks in 35 markets, we serve over 1.5% of the global population."

With the use of automation, the company's AI-powered models are able to recognize free access cash and transfer varied quantities of money into a customer's savings account. It is intended to assist clients save and maximize their financial resources in addition to maintaining the security of these procedures.

Blitz continues, "We make sure to help customers better manage their financial lives." Conversely, as a result of our sales to banks, we assist them in efficiently engaging and interacting with customers, closing deals, and maximizing the value of each encounter.

"We firmly think that we can assist banks in utilizing their most valuable resource, which is the transactional data of their own customers, to close the gap."

assisting banks in maximizing consumer satisfaction

Personetics takes great satisfaction in leveraging AI's capabilities in the areas of automation, predictive analytics, and transactional data. According to Blitz, the business has been using artificial intelligence (AI) for 13 years, and it has more registered, patent-protected machine learning and AI models.

"We can proactively engage with you every time you log in, through push notifications, in-app insights, or maybe through your banker or financial advisor once we have this customer-level financial map and behavior analysis," he says.

"Banks use our engagement platform to ensure that, based on your current or potential future financial condition, you are getting the appropriate number and combination of various insights, alerts, suggestions, budgeting tools, or product-based advise capabilities. Thus, we are assisting banks and directing them during this procedure.

Blitz also emphasizes how the business may let clients monitor their expenses and get guidance.

He emphasizes, "We give banks the opportunity to increase sales conversion rates without altering their offerings or costs by tying that to a legitimate financial need and through a meaningful, personalized engagement."

"A lot of banks are considering how to use this transactional data to effectively engage and win over more loyal consumers, but what makes it really special is how to ensure that banks are selling their customers effectively as well.

"We are helping banks simply to interact with you, to provide you insights and increase your engagement and trust, instead of trying to sell you on the loan."

Making the most of data using AI

Not everything at Blitz is geared toward customers. He goes on to say that bankers may increase efficiency and improve client engagement by using Personetics.

The business collaborates with the banks' data and marketing departments to find opportunities for savings, obtain outside funding, and comprehend the flow of money among its clientele. In addition to chances that they can take advantage of to offer clients value in real time.

Blitz emphasizes, "We can instantly use our AI models to provide aggregated and holistic financial behavioural analysis once the customer is connecting his open banking data." We are therefore able to give you a far better extra set of insights on what's happening, what you should know, and guidance on how to handle your money wisely.

Additionally, he clarifies that banks frequently do not properly utilize the data at their disposal and instead merely rely on it. In light of this, Personetics enables banks to deliver competitive consumer offers and act on the data in real-time, in addition to granting access to all of the data.

"We are constantly coming up with new ideas to match customers' financial transactional data with banks' needs and to match customers' needs with financial needs."

In order to properly categorize client data, the company is also collaborating with banks by leveraging their current AI models and fusing them with its own capabilities.

Blitz comments, "When it comes to sensitive data like transactional data, AI is still a big question mark." In actuality, it's an external, open-source model, and integrating it with financial transactional data will be quite difficult.

"Personetics employs self-learning mechanisms to assist the organization in optimizing to the appropriate level of service."

He continues, saying, "We are using ChatGPT to increase the accuracy to have much longer conversations and better identify customer intent. We already have our proprietary chatbot for banking business."

Additionally, he clarifies that banks frequently do not properly utilize the data at their disposal and instead merely rely on it. In light of this, Personetics enables banks to deliver competitive consumer offers and act on the data in real-time, in addition to granting access to all of the data.

"We are constantly coming up with new ideas to match customers' financial transactional data with banks' needs and to match customers' needs with financial needs."

In order to properly categorize client data, the company is also collaborating with banks by leveraging their current AI models and fusing them with its own capabilities.

Blitz comments, "When it comes to sensitive data like transactional data, AI is still a big question mark." In actuality, it is an external model and open source data, therefore integrating it with financial transactional data will be quite difficult.

"Personetics is utilizing self-learning mechanisms to assist the organization in optimizing to the appropriate level of service."

He continues, saying, "We are using ChatGPT to increase the accuracy to have much longer conversations and better identify customer intent. We already have our own proprietary chatbot for banking business."