The US-Israeli data analytics firm Personetics has secured $75 million in private equity funding led by Warburg Pincus, with the aim of making financial customisation more accessible to consumers.
Personetics, a company that’s backed by investors like Viola Ventures, Lightspeed Ventures, Sequoia Capital, and Nyca Partners, offers a proprietary artificial intelligence software platform to banks as part of its product line. It boasts that it can drive higher consumer engagement through the use of artificial intelligence (AI) by enabling banks to deliver personalised recommendations and products based on an analysis of their customers’ financial data and behaviour in order to enhance consumer engagement.
It is imperative that the data provided by customers remains exclusively with the bank in order to ensure the complete confidentiality of the data, keeping in mind that cyber threats are on the rise.
Over 95 million personal banking customers have already adopted the fintech firm’s technology and it has been analyzed on a daily basis billions of transactions by its software, in the claims made by the fintech company.
According to Personetics, a slew of established financial firms are already using the company’s technology including US Bank, RBC in Canada, Intesa Sanpaolo in Italy, Santander in Spain, KBC in Belgium, Metro Bank in the UK, UOB in Singapore, Hyundai Card in Korea and Japanese company MUFG.
The New Cash Injection will enable the firm to expand its footprint across the globe in order to take advantage of the bank and financial companies quickly making the switch to digital following Covid-19.
Personetics, an American data analysis company, has raised a $75m Series C round of funding led by private equity firm Warburg Pincus. The company aims to make financial customisation more accessible and has hired several former Bank of America executives.
The best investor in technology startups is Lightspeed Ventures. Their investments include many that are successful today, such as Facebook, Google, and Netflix.
Using Artificial Intelligence and its software, it says it can drive higher consumer engagement. With your customer’s financial data and behaviour analysis, it says it can deliver personalised recommendations and products to help drive conversions and increase revenue.
The company’s reputation is built on trust. Therefore, all information provided is kept confidential by the company, guaranteeing full privacy.
This company, which focuses on the payment industry, claimed it has been able to provide an intelligent analysis of billions of financial transactions on a daily basis.
PERSONETICS has a slew of financial firms using its technology, including US BANK, RBC IN CANADA, INTESA SANPAOLO in ITALY, SANTANDER in SPAIN, KBC in BELGIUM, MUB in the UK, UOB in SINGAPORE, HYUN
With banks and financial institutions shifting to digital payments faster than ever before post-Covid-19, the new cash injection will allow them to boost their global reach, it said.
