Israeli Fintech Company Personetics Raised $75 Million for Financial Services
The company offers a Self-Driving Finance platform.
Personetics Founders
Israeli startup Personetics, a global provider of data-driven personalization and customer engagement solutions for banks and financial services providers raised $75 million in growth funding from Warburg Pincus LLC. Personetics is a provider of customer-facing AI solutions for financial services and the company behind the industry’s first Self-Driving Finance platform.
Forbes explains that “Self-Driving” is about autonomous finance, the concept that your finances should be drive themselves. This means that you as a user of a financial tool or as an individual investor set the destination that you want for your money and the platform used then figures out how to get there quickly and safely. So the platform, in this case, is kind of like using Waze to find the best route for going somewhere.
Just like self-driving cars, Personetics says that 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.
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Personetics secures a $75 million investment from @warburgpincus to accelerate the global expansion of its AI-driven personalization and engagement solutions for financial institutions – Full PR: https://t.co/rjpXIg0hkz pic.twitter.com/LbmryM1uu5
— Personetics (@personetics) February 16, 2021
Personetics’ Self-Driving Finance solutions are based on AI and are used by 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 company says that it serves over 65 million bank customers worldwide. It boasts that it has the largest direct customer impact of any AI solution provider in banking today. Personetics 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.
David Sosna, CEO and Co-Founder of Personetics, said, “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. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey.”
Read more about: Personetics, Self-Driving Finance
