Personetics raises $75 million to bring data-driven insights to banks’ customers
Personetics, a data-driven platform that uses AI to help banks issue personalized advice and insights to customers, has raised $75 million in funding from private equity firm Warburg Pincus.
Founded out of Israel in 2010, Personetics’ technology works inside financial institutions’ software to analyze customer financial transactions and behavior, and deliver real-time tips and suggestions to improve their longer term financial health. This could be to increase their savings or reduce their debt, depending on each customer’s situation.
Its customers include U.S. Bank, RBC, Intesa Sanpaolo, and Santander, which can deploy Personetics’ technology in their back end to display upcoming payments, and perhaps show “duplications” whereby a customer may be subscribing to two similar streaming services, for example. Personetics claims that its technology touches around 95 million customers globally.
Above: Personetics
Personetics had previously raised $18 million from investors including Sequoia and Lightspeed Venture Partners, and with a fresh $75 million in the bank the company said that it’s well-financed to expand its global footprint.
In addition to Tel Aviv, the company has offices in New York, London, Paris, and Singapore.
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