Personetics, an Israeli startup which provides data-driven personalization and customer engagement solutions for banks and financial services providers, has raised $75 million in growth funding from the Warburg Pincus private equity firm, the company announced Tuesday.
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Personetics offers a proprietary AI software platform to banks around the world. Its software touches more than 95 million personal banking customers and analyzes billions of transactions daily.
According to a press release, banks using the Personetics AI software are seeing an up to 35% increase in digital customer engagement, a 20% increase in an account and balance growth and a 15% increase in the adoption of personalized product recommendations and advice.
Personetics co-founder and CEO David Sosna said, "The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement … 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."
