KBC Partners with Personetics to Boost Digital Customer Engagement and Financial Wellness
KBC, a leading multi-channel bank-insurance group with a geographic focus in Europe, has partnered with Personetics, the leading global provider of financial-data-driven personalization and customer engagement solutions for financial services. The companies will be working together to deliver multi-lingual, proactive, data-driven solutions to increase customer engagement on KBC's mobile application to meet customer needs.
Personetics AI models use customers' financial data to automatically configure and categorize all transactions, simplifying and greatly improving the user experience. Personetics provides KBC with a powerful Engagement Builder Platform, "Engage," to enable KBC to modify existing and create ongoing insights and recommendations for customers. As a result of implementing Engage, KBC saw a clear rise in engagement, including high opt-in and session use above industry benchmarks with a +90% satisfaction rating.
“Exceeding customer expectations of KBC Mobile is what excites our team. One way of achieving this is through saving time & money. For example: getting a quick heads-up to check if a double payment was intended. Or a notification when you received a payment, in the likes of a tax return. Each time we are able to provide such relevant information, it may give a small, but tangible benefit to the customers' life and add to his or her personal financial insight. Personetics is helping us achieve that type of relevance,” says Karin Van Hoecke, General Manager (Digital) Transformation and Data at KBC.
"Personetics' Engage solution provides us with both flexibility and scale. With their broad catalog of proven valuable and relevant insights, we could develop and extend our PFM solution much quicker than if we would have built everything from scratch ourselves. In addition, we also benefitted from Personetics' extensive hands-on experience with their banking customers. With Personetics' brand-new Engagement Builder, we received a powerful tool that provides us with even more flexibility than before. It will allow us to design custom insights without the need to develop them manually. This will help us to differentiate our PFM solution from those of our competitors."
- Jurgen Indekeu, Policy Advisor for Mass Retail segment at KBC
"KBC's usage numbers show us, yet again, that customers are hungry for relevant, succinct information about their finances. When their bank-insurer delivers that information through customized, helpful insights, they're much more likely to engage over time," says David Sosna, CEO of Personetics.
KBC Belgium and Personetics in numbers:
- Bank assets: €320 billion
- Bank clients in Belgium: 2.6 million
- Bank digital users in Belgium: Approx. 1.6 million
- Partner since 2018
- Customer satisfaction of personalized insights: +90%
- Insights generated over time: 47.4 million
- Average of 6 new insights per customer per month
- Personetics Active Engagement: 35%
- Languages: Dutch, English, French, German
The partnership agreement between Personetics and KBC is projected further to validate KBC as a leading European Financial Institution. Additional services and functionalities are expected to be rolled out in the coming months, with KBC adding Personetics functionality for their Small and Midsize Business clients to strengthen KBC's personalized engagement offering across the board.
The detailed Case Study about the partnership can be accessed by clicking here
Focused on enabling proactive engagement for banks, Personetics' AI analyzes financial data in real-time to understand customer financial behavior, anticipate customer needs and deliver a hyper-personalized experience. With solutions designed for the mass retail market, wealth management, and small business customers, Personetics' technology enables banks to offer day-to-day insights, financial advice, and automated wellness programs. Banks use Personetics' agile platform to rapidly create their personalization IP to serve the unique needs of their customers and differentiate themselves in a crowded market. With these advances, banks have transformed their digital banking into the center of the customers' financial lives while also delivering significant business impact.
Led by a team of seasoned financial and technology entrepreneurs, Personetics strives to actualize a world of "Self-Driving Finance" where banks proactively act on behalf of their customers – a win-win for customers and banks alike. Founded in 2011, Personetics operates through offices in New York, London, Paris, Singapore, and Tel Aviv. To learn more, visit www.personetics.com.
KBC is one of the leading financial groups in Europe. It is a multi-channel bank-insurance group with a geographic focus on Europe, catering mainly to retail clients, SMEs and local midcaps. The group occupies significant, and in many cases leading positions in its core markets of Belgium, Czech Republic, Bulgaria, Hungary, Slovakia and Ireland. The KBC group has also selectively established a presence in a number of other countries and regions around the world.
KBC employs around 41000 staff and caters for about 12 million clients in its core markets. KBC Group NV is listed on Euronext Brussels (ticker symbol 'KBC').
KBC's mission is to be among Europe's best-performing financial institutions. By achieving this, KBC wants to become the reference in bank insurance in its core markets.
"We want to enable and protect the dreams of our clients. We want to inspire, boost, and stimulate those who count on us, day after day." To realize this vision, KBC seeks to increase customer engagement by continuously upgrading /finetuning /further adapting and improving its mobile application to evolving customer needs.
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Michal Milgalter, Personetics
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