Techcombank Taps Personetics to Bolster Users’ Financial Wellbeing With AI

Techcombank Taps Personetics to Bolster Users’ Financial Wellbeing With AI

by April 19, 2023

Vietnam’s Techcombank has partnered with Personetics, a global provider of data-driven personalisation solutions, to introduce AI-powered money management capabilities.

Through this partnership, Techcombank will offer capabilities to analyse customers’ financial transactions, aggregate bank accounts, and provide valuable insights about unexpected payments, excessive spending, and insufficient account balances.

Additionally, the bank will also provide tailored suggestions on savings, asset growth, and card usage to help customers increase their financial resilience and achieve their goals independently.

Techcombank had deployed these AI-powered money management capabilities in a 3-week pilot programme with 10,000 participating customers.

The bank reported that it saw substantial increases in savings balances (9%), customer monthly average log-in rates (up from 14.2 times before the pilot period) as well as installments volume (up 43.7%) and total installment value (up 32%).

Santhosh Mahendiran

Santhosh Mahendiran

Santhosh Mahendiran, Chief Data and Analytics Officer at Techcombank said,

“Combining the power of our data and insights with Personetics provides us with a fantastic opportunity to tailor unique customer journeys.

 

In a world where all products can be easily replicated, what ultimately differentiates every bank is how we use data & create unique experiences for each customer. At Techcombank, the customer is at the heart of everything we do.”

David Sosna, CEO and Co-Founder of Personetics

David Sosna

David Sosna, Co-Founder and CEO of Personetics said,

“Their pilot phase results were extremely promising and surpassed expectations, indicating that Techcombank’s customers are eager for the personalised insights and advice that only the Personetics platform can offer.

 

We eagerly anticipate the next phase of our partnership, where we will continue to collaborate with Techcombank in enhancing the financial well-being of their customers and delivering substantial business outcomes.”