AI Firm Receives $75 Million for Personalized Financial Services

Data personalization company Personetics recently received a new round of funding from private equity firm Warburg Pincus (News - Alert) LLC.  The new investment hopes to promote the growing trend in the financial industry for using automation and real-time data analysis to enhance the customer experience. Experts estimate that the financial services personalization sector is currently valued around $13 billion.

"The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement. Personetics has set out down this path and has launched its vision of Self-Driving Finance.” said David Sosna, CEO and Co-Founder of Personetics “We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions.”

Personetics’ software is currently being utilized by over 95 million bank customers, providing financial institutions with a better understanding of customers’ financial behavior and activity.  Using agile tools and a low-code Engagement Builder, banks have the ability to share personalized insights to individual banking customers and small businesses.

"Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the Neobanks and FinTech apps.”  adds Peter Deming, Managing Director at Warburg Pincus. “Through the combination of our financial backing and Warburg Pincus' extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world."

Edited by Maurice Nagle