Personetics, a global leader in AI-powered Cognitive Banking, has launched PrimacyEdge, a new product designed to enhance customer loyalty and increase share of wallet for financial institutions.
PrimacyEdge aims to address the challenge banks face in a frictionless financial marketplace where consumers often bank with multiple institutions. Research indicates that most consumers use comparison sites and hold accounts at two or more financial organizations, making it difficult for banks to build primary relationships. The product integrates with Personetics’ existing Engage suite to provide a programmatic approach to strengthening customer relationships.
The system assists banks by detecting customer activity with other financial institutions. Based on these insights, it proactively delivers relevant, contextual offers to better satisfy customer needs and support their financial goals. PrimacyEdge covers the entire customer lifecycle, from activation to deepening and retention, by converting financial data indicators into timely, proactive actions that foster primacy. Its design offers flexibility, allowing banks to create customized primacy strategies and engagement flows tailored to their specific objectives.
Udi Ziv, CEO of Personetics, stated that PrimacyEdge enables banks to gain a fuller understanding of their customers’ banking habits across institutions. This insight, he noted, can be leveraged to deliver relevant offers that encourage customers to consolidate more of their financial lives within a single, trusted relationship.
Providing an industry perspective, Michael Bernard, Senior Analyst at Celent, commented on the increasing difficulty for North American bank executives to acquire and retain customers. He emphasized the need for innovation to cultivate deeper, more profitable customer relationships and win the battle for primacy, highlighting that understanding customer needs and supporting their financial goals is key.
Personetics specializes in AI-powered personalization and engagement solutions for financial institutions globally. The company’s Cognitive Banking Platform is used by banks serving over 150 million customers, assisting them in fostering deeper relationships, increasing share of wallet, and delivering meaningful financial wellness outcomes.
