BPI Taps Personetics to Provide AI-Powered Financial Insights for 6 Million Usersby Fintech News Philippines November 7, 2023
The Bank of the Philippine Islands (BPI) has joined forces with Personetics, a global provider of financial data-driven personalisation solutions, to push ahead with its advanced personal financial management (PFM) strategy.
The Personetics Engagement Builder powers BPI’s newly launched Track and Plan tool to provide personalised insights for over four million active digital customers, tailored to their specific sensitivities, behaviors, and concerns.
This tool analyses the financial activities of individual users on the app and shares personalised insights on spending habits. This provided users with self-service options for depositing funds, paying bills, and other transactions.
The bank is also strengthening its customer relationships with value-added advisory services and 20 hyper-personalised insights to help customers manage cash flows, make informed financial decisions, and save.
Personetics’ Engagement Platform enriches personal savings and debit card data and categorises it in ways that are meaningful for BPI customers.
It applies AI, machine learning, and natural language programming (NLP) models to the enriched data to generate, manage, and deliver hyper-personalised, easy-to-understand insights, and actionable recommendations.
The planned integration of credit card data will enable BPI to offer customers additional tools to enhance personal financial management and wellness.
Additional next steps include the addition of ACT auto-savings and sustainability insights to help customers set and reach savings goals, as well as back-office integration with Salesforce.
“As the first bank in the Philippines, BPI has a long history of industry leadership, and today, it provides the most advanced digital capabilities of any bank in the country. We are proud to be the first to empower our customers with rich, personalised recommendations and insights.
Personetics is an ideal partner in providing our customers with the tools and direction they need to become more involved and active in shaping their own financial future,”
said Fitzgerald Chee, Head of Consumer Platforms at BPI.
“We are delighted that BPI, the pioneer in providing advanced PFM for banking customers in the Philippine market, has chosen Personetics as its partner in this exciting endeavour.
We are fully committed to supporting the bank in its effort to advance financial literacy and well-being and welcome the opportunity to work closely with BPI to create even more value for the customers it serves,”
said David Sosna, CEO and Co-founder of Personetics.