Personetics, a provider of financial data-driven personalisation and customer engagement services, has collected $85m in growth funding from Thoma Bravo.
The FinTech company’s AI-powered technology is aimed at proactive engagement. It analyses financial data in real-time, understands individuals’ financial behaviours, anticipates their financial advice and automates wellness programs. Clients can use this to offer customers real-time personalised insights and advice, as well as automated, self-adjustable financial wellness programs
Personetics claims financial institutions can experience an increase of up to 35% in digital customer engagement, 20% rise in account and balance growth and a 17% growth in the adoption of personalised product recommendations and advice.
Its client base includes US Bank, Huntington Bank, RBC, BMO, Intesa Sanpaolo, Santander, KBC, Metro Bank, UOB, Hyundai Card and MUFG.
The company’s ambition is to actualise the world of “self-driving finance” where financial institutions proactively act on behalf of their customers to increase lifetime value and drive business impact.
Personetics CEO and co-founder David Sosna said, “Data-driven personalisation and customer engagement is the battleground for financial institutions all over the world. Banks are increasingly moving from a passive to a proactive relationship with customers and are looking for new ways to help them improve their financial well-being.
“Personetics provides financial institutions with the most comprehensive engagement platform on the market, enabling agility and differentiation with an agile delivery for quick business impact.”
The FinTech company previously raised $75m in February 2021 from Warburg Pincus.
Other investors in Personetics include Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners.
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