KBC partners with Personetics to drive digital customer engagement and financial well-being
BRUSSELS & TEL AVIV, Israel – (COMMERCIAL THREAD) – KBC, a leading multichannel bancassurance group with a geographic concentration in Europe, has joined forces with Personetic, the world’s leading provider of financial data-driven personalization and customer engagement solutions for financial services. The companies will work together to deliver multilingual, proactive and data-driven solutions to increase customer engagement on KBC’s mobile app to meet customer needs.
Personetics’ AI models use customer financial data to automatically configure and categorize all transactions, greatly simplifying and improving the user experience. Personetics provides KBC with a powerful engagement creation platform, “Engage”, to enable KBC to modify existing information and create ongoing information and recommendations for clients. Following the implementation of Engage, KBC saw a marked increase in engagement, including a high rate of membership and session utilization above industry benchmarks with a satisfaction rate of + 90%.
“Exceeding the expectations of KBC Mobile customers is what drives our team. One way to do this is to save time and money. For example: get a quick warning to check if a double payment was due. Or a notification when you have received a payment, such as a tax return. Whenever we are able to provide such relevant information, it can bring a small but tangible benefit to the client’s life and add to their personal financial knowledge. Personetics helps us achieve that kind of relevance, ”says Karin Van Hoecke, General Manager (Digital) Transformation and Data at KBC.
“Personetics’ Engage solution gives us both flexibility and scalability. With their extensive catalog of proven valuable and relevant information, we could develop and scale our PFM solution much faster than if we had built everything from scratch ourselves. In addition, we have also benefited from Personetics’ extensive practical experience with their banking clients. With Personetics’ brand new Engagement Generator, we’ve received a powerful tool that gives us even more flexibility than ever before. It will allow us to design personalized information without needing to develop it manually. This will help us differentiate our PFM solution from those of our competitors.
– Jurgen Indekeu, Policy Advisor for the retail segment at KBC
“The KBC usage figures show us, once again, that customers are hungry for relevant and succinct information about their finances. When their bank insurer provides this information through personalized and useful information, they are much more likely to engage over time, ”said David Sosna, CEO of Personetics.
KBC Belgium and Personetics in figures:
Bank assets: 320 billion euros
Bank customers in Belgium: 2.6 million
Digital banking users in Belgium: approx. 1.6 million
Partner since 2018
Customer satisfaction with personalized insights: + 90%
Insights Generated Over Time: 47.4 million
Average of 6 new information per customer and per month
Active engagement of Personetics: 35%
Languages: Dutch, English, French, German
The partnership agreement between Personetics and KBC should further validate KBC as a leading European financial institution. Additional services and features are expected to be rolled out in the coming months, with KBC adding Personetics functionality for its SME clients to strengthen KBC’s personalized engagement offer at all levels.
The detailed case study on the partnership is available by clicking on here
About the personetics:
Focused on proactive bank engagement, Personetics’ AI analyzes real-time financial data to understand customer financial behavior, anticipate customer needs, and deliver a hyper-personalized experience. With solutions designed for the retail, wealth management and small business market, Personetics’ technology enables banks to deliver day-to-day information, financial advice and automated wellness programs. Banks use Personetics’ agile platform to quickly build their personalization IPs to meet the unique needs of their customers and differentiate themselves in a crowded marketplace. Thanks to these advancements, banks have transformed their digital banking at the center of customers’ financial lives while delivering significant business impact.
Led by a team of seasoned financial and technology entrepreneurs, Personetics strives to actualize a world of “self-financing” where banks proactively act on behalf of their clients – a win-win for clients and banks alike. Founded in 2011, Personetics operates through 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 bancassurance group with a geographic focus on Europe, mainly aimed at individual customers, SMEs and local mid-size companies. The group occupies important positions, and in many cases leading positions, in its main markets of Belgium, the Czech Republic, Bulgaria, Hungary, Slovakia and Ireland. The KBC group also has a selective presence in several other countries and regions of the world.
KBC employs around 41,000 people and serves around 12 million customers in its key markets. KBC Groupe NV is listed on Euronext Brussels (symbol ‘KBC’).
KBC’s mission is to be among the best performing financial institutions in Europe. By achieving this, KBC wants to become the benchmark in bancassurance in its key markets.
“We want to enable and protect the dreams of our customers. We want to inspire, empower and stimulate those who rely on us, day in and day out.” To achieve this vision, KBC seeks to increase customer engagement by continuously upgrading / fine-tuning / adapting and further improving its mobile application to the changing needs of customers.