AI-driven financial firm Personetics secures $75m from Warburg Pincus

US-Israeli data analytics firm Personetics raised $75m led by private equity firm Warburg Pincus, aiming to make financial customisation more accessible.

Backed by investors such as Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners, Personetics offers a proprietary AI software platform to banks. Leveraging AI technology, its software claims to drive higher consumer engagement as it enables banks to send personalised recommendations and products based on their customer’ financial data and behaviour analysis.

Given the proliferation of cyber threats, the firm assured that the data provided by customers stays only with the bank, therefore guaranteeing complete confidentiality.

The fintech firm claimed its technology has already been used by over 95 million personal banking customers and its software analyses billions of transactions on a daily basis.

Personetics already has a slew of established financial firms using its 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 Japan’s MUFG, it said.

With banks and financial companies making the switch to digital quicker post-Covid-19, the new cash injection will aid the firm to boost its footprint across the globe, it said.

Copyright © 2021 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.