Personetics Snags $75 Million in New Funding

Personetics Snags $75 Million in New Funding

In a round led by Warburg Pincus, data-driven personalization and customer engagement solution provider Personetics has raised $75 million in new funding. The round brings the company’s total funding to $93 million.

“The financial services industry is reaching a tipping point in mobile adoption and setting a new standard in Smart Personalized Engagement,” Personetics CEO and co-founder Davis Sosna explained. “Personetics has set out down this path and has launched its vision of Self-Driving Finance. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey.”

Personetics teams up with banks and other financial institutions to help them better engage their customers, and to make it easier for them to understand and make the financial decisions they need to improve their lives. The company’s automated financial wellness programs help users reach long-term financial goals by leveraging technologies like AI-driven chatbots to provide personalized, relevant, and timely financial advice and recommendations.

A Finovate alum since 2016, Personetics customers include leading global banks such as U.S. Bank in the U.S., RBC in Canada, Metro Bank in the U.K., UOB in Singapore, and MUFG in Japan. More than 95 million bank customers around the world are using solutions and services enhanced by Personetics’ technology; the company claims its customers are recognizing gains of as much as 35% in their mobile app engagement and a 20% increase in customer account and balance growth.

Last fall, the company announced a partnership with Santander UK to leverage AI-driven personalized insights to boost engagement and enhance the customer digital experience. Together, the two firms launched a new digital solution called My Money Manager that offers cash flow analysis, payment reminders, and other personalized financial insights. In August, Personetics teamed up with Israel-based Discount Bank to launch its auto savings solution, Smart Save.


Photo by Sharon McCutcheon from Pexels

Juvo Brings Digital Identities to the Underbanked; BondIT Merges with Scorable

Juvo Brings Digital Identities to the Underbanked; BondIT Merges with Scorable

Financial-identity-as-a-service (FiDaaS) pioneer – and FinovateFall alum – Juvo announced earlier this week that it is working with Mastercard’s Latin America and Caribbean (LAC) team to bring its FiDaaS platform to financial institutions throughout the region.

“Financial institutions across LAC face a dilemma,” Juvo CEO and founder Steve Polsky explained. “Consumers can’t demonstrate their creditworthiness to gain access to credit. Without access to credit, however, consumers can’t establish creditworthiness.”

Juvo’s technology leverages machine learning to analyze transaction data to assess an individual’s ability to repay loans and meet other financial obligations. The company’s partnership with Mastercard is in large part a product of its participation in Mastercard’s Start Path fintech startup engagement program last August. Headquartered in San Francisco, California, Juvo was founded in 2014.


Innovation in the wealth management space is increasingly an international affair. This week, Israel-based portfolio construction technology provider BondIT announced that it has agreed to merge with Germany’s Scorable. Headquartered in Berlin, Scorable provides AI-powered credit analysis and will, per this transaction, combine its technology with BondIT’s in order to offer an integrated portfolio-management-and-research-as-a-service solution for asset managers and financial advisors.

“Fixed income investors still rely heavily on manual-driven procedures, but in light of market and cost pressures, intelligent automation is increasingly necessary to stay competitive,” said BondIT CEO Etai Ravid. “Merging our technologies allows us to even better serve the evolving digital needs of our clients by helping them optimize their portfolio and risk management to boost efficiency, performance and scale.”

Making its Finovate debut at FinovateFall in 2016, BondIT offers a scalable platform that uses both machine learning and data science to provide financial analysts and advisors with optimized portfolios and portfolio analysis. Founded in 2012 and based in Herzliya, Israel, BondIT has raised $18.5 million in funding from investors including Fosun International.


Here is our look at fintech around the world.

Central and Southern Asia

  • Fintech Futures profiles Indian fintech PayNearby that is leveraging small, brick and mortar retailers to provide ATM and branch banking services.
  • Pakistan fintech Tag earns “in principle” approval for an electronic money institute license from country’s central bank; plans to launch financial superapp.
  • Express Computer looks at the evolution of fintech in India.

Latin America and the Caribbean

  • Banco Pichincha Peru teams up with U.S.-based no-code mobile security platform Appdome to secure its mobile app.
  • The Central Bank of the Bahamas launches digital sand dollar, a central bank digital currency (CBDC).
  • Brazil’s central bank launches PIX instant payments platform; suggests possible return of WhatsApp.

Asia-Pacific

  • Singapore’s Lu International and Thailand’s Kasikornbank (KBank) partner to introduce new wealth management platform.
  • P2P investment network SeedIn, based in Singapore, announces rebranding to BRDGE; expansion to Indonesia.
  • Hong Kong based digital payment services platform Statrys raises $5 million in funding.

Sub-Saharan Africa

  • The days of paper checks in South Africa are numbered according to a joint communique from the country’s Reserve Bank, Financial Sector Conduct Authority (FSCA), and other government agencies and banking industry associations.
  • Chipper Cash, which offers no fee, P2P payment services in seven African countries, raises $30 million in funding.
  • Nigerian fintech Wallets Africa partners with Visa to provide customers with physical Visa cards for domestic and international payments.

Central and Eastern Europe

  • Revolut introduces Open Banking options for its German customers.
  • German fintech and challenger bank Vivid Money secures $17.6 million in funding.
  • Austria’s Raiffeisen Bank International (RBI) goes live with its API marketplace.

Middle East and Northern Africa

  • UAE-based payment service for retailers Spotii announces expansion to Saudi Arabia.
  • Trade Arabia takes a look at the fintech agreement between the Israeli Securities Authority (ISA) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA).
  • Two Israeli companies – ChargeAfter and Personeticsjoin Visa Fintech Partner Connect to bring payment technology innovation to Europe.

Photo by Elianne Dipp from Pexels

Personetics Partners with Santander UK to Launch My Money Manager

Personetics Partners with Santander UK to Launch My Money Manager

Putting artificial intelligence to work to help boost customer engagement in financial wellness, Personetics has announced a new partnership with Santander UK. Together, the two companies are offering a new digital solution, My Money Manager, integrated into Santander UK’s mobile banking app.

My Money Manager is designed to give users ready access to a variety of personalized, data-driven insights into their finances. The intelligent app learns as it is used, incorporating customer behavior, preferences, and feedback to provide alerts and tips to help keep users on track. Among the features of My Money Manager are expected deposit dates for recurring payments, push notifications for changes in scheduled payments, purchase analysis – including insight into category spending – as well as notification of expiring subscriptions and cards.

“We’re proud to be working with Santander to provide the technology to deliver personalized, proactive insights that significantly impact a customer’s financial confidence and ability to make lasting improvements to their financial situation,” Personetics CEO and co-founder David Sosna said. “Santander’s continued investment in customer-centric technologies demonstrates their innovative approach to customer engagement and digital innovation to better service their customers in a very tumultuous time.”

A Finovate alum since 2016, Personetics provides a customer engagement platform for financial services companies that enhances the financial customer journey with personalized insights, recommendations, and guidance. The platform leverages AI-driven chatbots to deliver contextual, financial advice and recommendations to help users reach their financial goals. Personetics notes that it’s technology has boosted digital engagement by 35% and saved new customers an average of $2,400 a year.

“My Money Manager is the result of a new kind of partnership between Santander and Personetics,” Santander UK Head of Customer Journey Design Andy Warren said. “Working collaboratively, the Personetics team is an extension of our internal teams, generating new use cases and co-creating beyond off-the-shelf solutions. Building long-lasting and meaningful relationships with our strategic partners is key to accelerate Santander’s digital transformation. We’re proud to bring innovation to our customers.”

Headquartered in Tel Aviv, Israel, and New York, Personetics announced an extension of its partnership with Discount Bank in August. The new agreement helped the bank launch Smart Save, an auto-savings solution. In April, the company teamed up with Hyundai Card to add personalized insights as part of a new service called “Spending Care by Personetics.” Also this spring, Personetics joined the Avaloq.one ecosystem.


Photo by Nataliya Vaitkevich from Pexels

Finovate Alumni News

On Finovate.com

  • Zopa Raises $182 Million En Route to Full Bank Launch
  • Banks Shift to Automation in 2020

Around the web

  • Fenergo teams up with PwC to provide KYC compliance and client onboarding as managed services.
  • SumUp forges partnership with German fintech Penta which will offer the company’s card reader to its customers.
  • Personetics joins Amazon Web Services (AWS) Partner Network (APN) Global Startups Program.
  • Temenos inks partnership with Egyptian National Post Organization.
  • Maybank Group, the fourth largest bank by assets in Southeast Asia, goes live with Avaloq’s banking suite.
  • Installment payment specialist Splitit partners with smart bed solution provider ReST.
  • SoFi scores New York BitLicense, which will permit the company to offer crytocurrency trading services in the state.
  • Jack Henry to provide a comprehensive technology upgrade, including deployment of its SilverLake core system, for Parkside Financial Bank & Trust.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Blockchain-Based Payments and Rebooting the Financial System.

Around the web

  • BioCatch beefs up insights on behavioral biometrics platform.
  • Fujitsu partners with Personetics to leverage Personetics’ cognitive AI recommendation engine for its new personalized banking cloud service.
  • AutoRABIT partners with nCino to help banks deploy software solutions on the nCino Bank Operating System faster.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Jumio Partners with Philippines Remittance Provider I-Remit

Around the web

  • Sezzle’s Karen Hartje wins recognition from Minneapolis/St. Paul Business Journal as its 2019 CFO of the Year.
  • FIS earns number one ranking for risk management and compliance technology solutions from Chartis RiskTech100 for the fifth year in a row.
  • Kinetica announces integration of NVIDIA RAPIDS to enhance performance of its Active Analytics Platform.
  • Fintech Finance interviews Personetics’ President of the Americas Jody Bhagat.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Blend Integrates with Mortgage Credit Specialist Avantus.

Around the web

  • Recognise Financial Services to deploy nCino’s Bank Operating System.
  • NCR announces plans to acquire Midwest POS Solutions.
  • Courtesy of a new partnership with Personetics, Metro Bank launches its Business Insights solution for business customers.
  • Revolut teams up with Bottomline, enabling real-time payment services to its retail and business customers in the U.K.
  • As part of a new initiative, open banking specialist NDGIT to bring its PSD2 Compliance APIs to Switzerland.
  • 3E Software’s Teslar Software adds Pendleton Community Bank to list of clients.
  • Overbond, FI.SPAN, and Finn.AI among 12 Canadian fintech startups chosen for U.K. trade mission.
  • CardFlight’s SwipeSimple terminal available on PAX A80.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Insurwave onboards Xceptor to digitize insurance documents.
  • Finovate Global: A Look at Fintech Talent in Singapore; Mobile Money Goes Live in South Sudan.
  • New Investment Makes Numbrs Europe’s Latest Fintech Unicorn.
  • Xendpay Joins RippleNet to Bring Fee Free Cross Border Payment Options to SE Asia.

Around the web

  • ABC TECH Group and Mambu partner to support banks’ digital transformation.
  • Meniga appoints Arpit Kaushik as new Chief Operating Officer.
  • Pagaya Investments partners with Prosper for to issue unsecured consumer loans from its securitization platform.
  • European Business Awards names Featurespace on its Ones to Watch list.
  • Revolut adds three banking veterans to its senior executive team.
  • Personetics Opens R&D Center in Nazareth.
  • ProfitStars marks 500 banks and financial services companies leveraging its commercial lending technology.
  • Onfido tests portable identity with U.K. fintechs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • New partnership between Starling Bank and SumUp to provide faster settlement to U.K. merchants.
  • ACI Worldwide unveils its strong customer authentication (SCA) toolbox.
  • Payoneer announces deal with Indian payments processing firm Paytabs.
  • Launchfire’s Lemonade named to 2019 Top Training Companies roster for gamification companies.
  • GoodFirms features bpm’ online among its list of top business process management (BPM) software providers.
  • Insuritas to power digital insurance agency for Marquette Bank.
  • Herald Extra highlights Lendio’s role as a “matchmaker” for small business lending.
  • Flybits to open a New York office in the city’s financial technology hub.
  • W.UP now a member of Five DegreesOpen Banking Marketplace.
  • Personetics opens R&D center in Nazareth.
  • Nvstr earns a spot in the Financial Venture Studio’s incoming cohort.
  • CREALOGIX introduces new Chief Financial Officer Daniel Bader.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • MX Picks Up $100 Million in New Funding.
  • Ocrolus Reels in $24 Million Investment.

Around the web

  • CREALOGIX to power new digital and mobile capabilities for LGT Vestra’s wealth management app and client portal.
  • Strands announces achieving ISO 27001 certification in all offices.
  • Horizon Investments to implement Fiserv’s Unified Wealth Platform for core portfolio management.
  • Personetics announces that users of Salesforce and Microsoft CRM platforms will be able to access the company’s data-driven actionable insights via new APIs.
  • Diebold Nixdorf launches a new series of self-service, digitally-connected ATMs.
  • NetGuardians appoints Swissquote co-founder Paolo Buzzi to its board of directors.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Personetics Unveils AI-Enabled Small Business Banking Solution

Personetics Unveils AI-Enabled Small Business Banking Solution

Personetics is leveraging its success in developing AI-enabled consumer banking solutions to help small businesses better manage their day-to-day banking affairs. The tool is geared toward the small business owners who cite a “lack of tools that fit their needs” as the primary challenge to banking digitally. Personetics’ integrates the solution into the bank’s online and mobile channels to give SMEs deeper insight into cash flow and liquidity.

“The small business solution is a result of our work with banks around the globe to address the shifting expectations of business customers as they become more digital-savvy,” Personetics co-founder and CEO David Sosna explained. “Banks that act on these emerging needs have an opportunity to turn online and mobile banking into the go-to places for businesses to manage their day-to-day finances and stay ahead of the rapidly evolving needs of their small business customers.”

Personetics’ new solution proactively identifies potential issues in payments and receivables, anticipates future cashflow, and offers relevant financing options to help users reach liquidity and growth objectives. Additionally, the technology leverages bank and accounting information to give users a comprehensive overview of both financial planning and actual activity.

The company’s announcement is the latest sign of Personetics’ determination to bring AI-enabled personalization solutions to more financial institutions. In March, Personetics teamed up with fellow Finovate alum MX in a technology partnership designed to help FIs translate data into actionable insights.

Also this spring, Personetics partner BGL BNP Paribas, one of the largest banks in Luxembourg, launched its personalized, intelligent digital assistant, Genius. The AI-powered solution, which the bank said was “developed in close collaboration with the fintech Personetics,” encourages financial wellness by providing information on user spending, analyzing cash flow for unusual transactions or other issues, and offering tips on better banking.

Founded in 2010 and headquartered in Tel Aviv, Israel, Personetics demonstrated its Personetics Anywhere chatbot solution at FinovateFall 2016. The company works with six of the top 12 banks in North America and Europe, and serves more than 60 million customers around the world.

Personetics has raised more than $18 million in funding from investors including Lightspeed Venture Partners, Sequoia Capital Israel, and Viola Ventures. The company announced an investment of an undisclosed amount from United Overseas Bank last summer.

Finovate Alumni News

On Finovate.com

  • Q2 and ALTR Leverage the Blockchain to Boost Data Security.
  • Neustar Helps TELUS Fight Caller ID Spoofing.
  • Fintech OS Raises $1.2 Million.
  • Personetics Unveils AI-Enabled Small Banking Solution.
  • SparkPost Launches Predictive Email Intelligence Platform.

Around the web

  • Meniga opens an office in Barcelona, Spain.
  • Coinbase extends support for USD Coin (USDC) trading in 85 countries.
  • Finastra hires Mark Miller as new Chief Financial Officer.
  • Fenergo announces API integration with global financial markets data provider Refinitiv.
  • Hastings Direct extends deal with Equifax by signing a multi-year deal.
  • SDC and Tink partner to give 120 Nordic banks access to account aggregation and payment initiation services.
  • Kony Quantum powers Qualifacts’ new CareLogic mobile app.
  • WireBarley partners with Currencycloud to boost its operations in the U.S.
  • Lendio named to Fortune’s Best Workplaces in Financial Services & Insurance.
  • BlueVine taps Herman Man as new Chief Product Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.