Personetics, a top supplier of data-driven customization and user engagement solutions for banks and financial services companies, announced that it has raised $75 million in expansion capital from Warburg Pincus LLC. Warburg Pincus is a renowned worldwide private equity company specializing in growth investing. Viola Ventures, Lightspeed Ventures, Sequoia Capital, and Nyca Partners were the investors in Personetics. The deal’s financial details weren’t made public.Â
Leading banks worldwide may access a unique AI software platform from Personetics. Every day, its software analyses billions of transactions and interacts with more than 95 million consumers of personal banking. Personetics performs in-the-moment analysis of client financial data and behavior while ensuring that data privacy is maintained by keeping it secure inside the bank’s ecosystem. The low-code Engagement Builder, a Creation & Management Console from Personetics, is used by banks to easily alter hundreds of pre-programmed insights and create unique user experiences.
This gives banks the ability to offer individualized insights and guidance in real-time, as well as automated, self-adjustable financial wellness programs, to their client base, which includes both small companies and individuals who use their services for personal banking. Personetics’ business solutions, which operate in a roughly $13 billion worldwide market, have become the industry norm and are effectively bringing the concept of “self-driving finance” to life.
Giving every consumer encounter data-driven, hyper-personalized engagement has immediate, significant advantages and returns on investment. Personetics’ AI software is helping banks enhance digital customer engagement by up to 35%, account and balance growth by 20%, and the acceptance of tailored product suggestions and advice by 15 percent. Many of the top banks in the globe, including U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea), and MUFG, are among the company’s flagship clients (Japan).
Personetics’ CEO and co-founder, David Sosna, stated that the financial services sector is breaking new ground in smart, personalized engagement and approaching a tipping point in the use of mobile technology. Personetics has embarked on this journey and unveiled its Self-Driving Finance concept. With new partners and clients, we hope to rapidly increase our worldwide footprint while providing our current clients with cutting-edge business solutions. We are ecstatic to embark on this adventure with Warburg Pincus in cooperation.
