The Bank of Philippine Islands (BPI) has selected Israel-based financial technology software company Personetics to provide customers with an improved personalised digital experience using artificial intelligence.
The bank has launched a "Track and Plan" tool on the new BPI banking App, which analyses the financial activities of individual users to offer tailored insights into spending habits.
The tool uses Personetics' AI-powered data analytics to create personalised recommendations based on an individual's financial transactional data.
Currently, the bank’s app has over four million active digital customers.
BPI’s head of consumer platforms, Fitzgerald Chee, said the app empowers customers with rich, personalised recommendations and insights.
According to BPI, the partnership has helped the bank strengthen customer relationships with value-added advisory services and 20 out-of-the-box hyper-personalised insights to help customers manage cash flows, make informed financial decisions, and save.
Personetics' Engagement Platform enhances BPI customer data by sorting personal savings and debit card information, it added.
It uses AI, machine learning, and natural language programming models to transform such data into personalised, easily understandable insights and actionable recommendations.
With the help of Personetics' Engagement Builder, the Track and Plan tool tailors insights to individual customer needs.
BPI has plans to integrate credit card data which will enable the bank to offer customers additional tools to enhance personal financial management and wellness.
It will add ACT auto-savings and sustainability insights to help customers set and reach savings goals and is looking at back-office integration with Salesforce.
