The Silicon Review
For many years banks have been at the forefront of using technology to help with both front-of-house and back-of-house operations. It's no surprise then that banks are adopting AI to help in a variety of ways. Large banks especially are industry leaders adopting AI to stay ahead of the competition, provide greater customer service to customers, more relevant services and offerings, as well as helping transform many back end processes. Artificial Intelligence provides a faster, more accurate assessment of a potential borrower, at less cost, and accounts for a wider variety of factors, which leads to a better-informed, data-backed decision. Just like self-driving cars, Self-Driving Finance is not an all or nothing proposition but rather a continuum of capabilities. It enables banks to provide retail, small business and wealth management customers with varying degrees of guidance in managing their finances ranging from real-time insights to personalized recommendations and automated money management
Personetics is one such firm which furnishes customer-facing AI solution for financial services and the company behind the industry's first Self-Driving Finance™ platform. Harnessing the power of AI, it's Self-Driving Finance solutions are used by the world's largest financial institutions to transform digital banking into the center of the customer's financial life – providing real-time personalized insight and advice, automating financial decisions, and simplifying day-to-day money management. The firm serves over 65 million bank customers worldwide; Personetics has the largest direct customer impact of any AI solution provider in banking today. The firm now counts among its customers 6 of the top 12 banks in North America and Europe, as well as other leading banks throughout the world.
Leading products provided by Personetics
Engage: It provides personalized guidance for the financial customer journey. Customer expectations from their banking providers in the digital age go beyond just access to data and ease of use. Customers want their bank to proactively offer insight and advice that can help them achieve their financial goals. Personetics Engage is a new breed of banking solution, one that truly puts customer needs first. It provides timely and useful insights that keep customers informed and help them stay on top of their financial affairs. Using real-time predictive analytics to empower customers, banks can reestablish themselves as trusted partners to the consumer.
Engage analyzes user-specific data streams to create a personalized list of actionable insights. To determine the optimal prioritization and display order for each user, the firm utilizes a proprietary learning algorithm that identifies and ranks the most relevant insights at any point in time. Engage comes with a rich library of pre-built user scenarios that include banking-specific triggers and workflows validated with banking customers across the globe, with new insights added on an ongoing basis.
Personetics Act: It is an automated financial wellness program. Personetics Automated Financial Wellness Programs help customers reach long-term financial goals and achieve financial resilience by engaging customers in habit-forming financial wellness behavior over an extended time frame. It leverages existing & acquired knowledge of the customer and also encourages habit-forming ongoing financial wellness behavior.
Assist: Assist is an AI-driven chatbot solution that empowers customers with personalized, context-aware, and timely support resources. Personetics Assist is the only digital self-service solution built specifically for the financial services industry. The solution is installed today at leading financial institutions, providing personalized service and assistance to tens of millions of customers. Financial institutions that use Assist are rewarded with higher operational efficiency, customer satisfaction, Net Promoter Scores, and some of the industry's most prestigious awards. To accelerate time-to-market and reduce deployment and maintenance effort, Assist is able to index and serve your existing content in its current format, eliminating the need to recreate or duplicate anything.
It features powerful Natural Language Understanding fine-tuned for financial services, Assist can quickly comprehend what bank customers are asking for and respond with accurate and helpful options Assist conversations to incorporate the customer's most recent transaction data, providing responses that are most relevant in the context of each individual's financial activity and banking relationships. It uses predictive analytics; Assist can anticipate customer questions and issues, offering "just-in-time" insights and advice that keep your bank one step ahead of the customer. Assist provides a single solution that can be deployed across all customer interaction channels from the bank's website and mobile app to popular messaging platforms such as Facebook Messenger and personal assistants like Amazon's Alexa.
The visionary behind Personetics success
David Sosna is the Co-Founder and also serves as the Chief Executive Officer of Personetics.
He has more than 20 years' experience in the financial services arena. Prior to founding Personetics, Mr. David was the co-founder and chief executive officer of Actimize, the leading provider of financial crime, risk, and compliance solutions. Under his leadership, Actimize was recognized as a global leader in the financial services market and was acquired in 2007 by NICE Systems. Prior to Actimize, David founded Gilon Information Systems, which grew under his leadership to become Israel's largest business intelligence company. He graduated from the Department of Industrial Engineering and Management at Ben-Gurion University.