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Royal Bank Canada Leverages Personetics to Pilot New Automated Savings Service

Royal Bank of Canada (RBC), with the help of Personetics Cognitive Banking’s applications, will deliver two new services this autumn that provide AI-powered financial guidance and an automated savings programme through the bank’s mobile app, reports Antony Peyton of Banking Technology (Finovate’s sister publication).

The development follows on from last month, when RBC unveiled these two digital services: NOMI Insights and NOMI Find & Save.

Based on predictive analysis of individual behavior and spending patterns, Personetics said its solutions enable RBC to provide clients with personalized insight and advice for day-to-day money management.

Examples of insights include identifying unusual transactions which may require action, automatically issuing reminders based on past activity, and predicting potential issues.

Personetics is headquartered in New York and was founded in 2011. It also has offices in London and Tel Aviv. The company demonstrated its Personetics Anywhere chatbot solution for the financial services industry at FinovateFall 2016.