KBC Partners with Personetics to Boost Digital Customer Engagement and Financial Wellness
BRUSSELS & TEL AVIV, Israel – (BUSINESS WIRE) – KBC, a leading multichannel bank insurance group with a geographic focus in Europe, has partnered with Personetics, the leading global provider of financial data-driven personalization and loyalty solutions for financial services. The companies will work together to provide multilingual, proactive, data-driven solutions to increase customer loyalty through KBC’s mobile application to meet customer needs.
Personetics ‘AI models use customers’ financial data to automatically configure and categorize all transactions, simplifying and vastly improving the user experience. Personetics provides KBC with a powerful Engagement Builder platform called “Engage”, with which KBC can change existing ones and create ongoing insights and recommendations for customers. As a result of implementing Engage, KBC saw a significant increase in engagement, including high opt-in and session usage above the industry benchmarks with a satisfaction rating of + 90%.
“Our team is impressed by the fact that KBC Mobile has exceeded customer expectations. One way to do this is to save time and money. For example: a quick heads up to check if a double payment was intended. Or a notification when you have received a payment in the form of a tax return. Any time we are able to provide such relevant information it can add small but tangible benefit to the customer’s life and improve their personal financial insights. Personetics helps us to achieve this relevance, ”says Karin Van Hoecke, General Manager (Digital) Transformation and Data at KBC.
“Personetics’ Engage solution gives us both flexibility and scalability. With their broad catalog of proven valuable and relevant insights, we could develop and expand our PFM solution much faster than if we had built everything from scratch and benefited from Personetics’ extensive hands-on experience with their banking clients. With the brand new Engagement Builder from Personetics we have received a powerful tool that gives us even more flexibility than before and allows us to design individual insights without having to develop them manually. This will help us differentiate our PFM solution from that of our competitors. ”
– Jürgen Indekeu, Policy Advisor for mass retail at KBC
“The KBC usage figures show us once again that customers are hungry for relevant, concise information about their finances. If your bank insurer provides this information through tailored, helpful insights, the likelihood that they will become involved over time is much greater, ”said David Sosna, CEO of Personetics.
KBC Belgium and Personetics in numbers:
Bank assets: € 320 billion
Bank customers in Belgium: 2.6 million
Digital bank users in Belgium: around 1.6 million
Partner since 2018
Customer satisfaction through personalized insights: + 90%
Insights generated over time: 47.4 million
An 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 aims to confirm KBC as the leading European financial institution. It is expected that additional services and functionalities will be introduced in the coming months, with KBC adding the Personetics functionality for its small and medium-sized businesses to strengthen KBC’s personalized engagement offering across the board.
The detailed case study on partnership can be found here
Personetics AI is designed to enable proactive engagement for banks, analyzing financial data in real time to understand customer financial behavior, anticipate customer needs and deliver a hyper-personalized experience. With solutions designed for mass retail, wealth management and small business customers, Personetics technology enables banks to offer daily insights, financial advice and automated wellness programs. Banks use Personetics agile platform to quickly build their personalization IP to meet their clients’ unique needs and differentiate themselves in a crowded market. With these advances, banks have made their digital banking the focus of customers’ financial lives while making a significant business impact.
Led by a team of seasoned finance and technology entrepreneurs, Personetics seeks to create a world of self-driving finance in which banks act proactively on behalf of their customers – a win-win situation for customers and banks alike. Personetics was founded in 2011 and has 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 multichannel bank insurance group with a geographic focus on Europe, mainly aimed at retail customers, SMEs and local midcaps. The group occupies significant and in many cases leading positions in the core markets of Belgium, the 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 41,000 people and serves around 12 million customers in its core markets. KBC Group NV is listed on Euronext Brussels (ticker symbol “KBC”).
KBC’s mission is to be one of the best performing financial institutions in Europe. KBC aims to become the benchmark in the banking insurance business in its core markets.
“We want to enable and protect the dreams of our customers. We want to inspire, encourage and stimulate those who count on us every day.” In order to make this vision a reality, KBC is trying to increase customer loyalty by continuously updating / fine-tuning / further adapting and improving its mobile application to evolving customer needs.