Techcombank and Personetics-a provider of data-driven personalisation and customer engagement tools for banks and financial services companies-are revolutionising financial management through the integration of AI technology to offer customers enhanced control over their finances.
By analysing individual customers' financial transaction history and behaviour, Techcombank’s updated system provides personalised advice on saving strategies, recommends suitable financial products, and offers guidance for asset growth.
Additionally, users receive alerts regarding excessive spending and unexpected payments, enabling them to improve their financial health and achieve their goals.
The partnership has yielded impressive results, with a three-week trial involving 10,000 participants experiencing significant positive changes. Notably, customers' savings balances increased by 9 per cent, demonstrating the effectiveness of the AI-driven financial management approach.
Moreover, the average frequency of customer logins to the application skyrocketed from 14.2 times during the trial phase to 77.3 times during the deployment phase. Additionally, there was a remarkable 43.7 per cent surge in instalment transactions, accompanied by a substantial 32 per cent increase in total instalment value.
Pranav Seth, head of the Digital Transformation Office at Techcombank, underscored the critical role of Techcombank's personalised financial management tools, which are built on in-depth analysis of customer spending behaviour. This approach allows for the delivery of tailored solutions at the right time, catering to each user's specific needs.
It exemplifies the distinct advantage of digital banking over traditional financial management by providing swift, optimised, and personalised experiences based on the wealth of information and user behaviour.
With a customer-centric strategy at its core, Techcombank believes that collaborations with industry leaders like Personetics and Adobe will bring unique financial solutions that enhance the experience for millions of Vietnamese customers.
Seth added, "Our primary objective is to empower customers with unprecedented convenience and control, ranging from identifying new investment and savings opportunities to managing personal expenditure."
David Sosna, CEO and co-founder of Personetics, also shares his optimism for driving positive business transformation for Techcombank and its targeted customer segments.
The Israel-backed firm Personetics, serving nearly 130 million customers worldwide, specialises in providing personalised solutions and enhancing customer interactions through the collection and analysis of financial data.
The company collaborates with over 100 financial institutions and digital banks across 32 markets in North America, Europe, and Asia, including renowned entities such as U.S. Bank, Metro Bank, and UOB.
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By Trung Duong