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Israel Discount Bank Customers Get Personal Financial Guidance From Didi™ - an AI-driven Digital Assistant Powered by Personetics' Cognitive Banking Brain

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News provided by

Personetics

01 Feb, 2018, 08:00 GMT

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TEL AVIV, Israel, February 1, 2018 /PRNewswire/ --

Personetics' Cognitive Banking Brain enables Didi to provide customers with a forward-looking view of their finances and proactively engage them with relevant insights and advice 

Israel Discount Bank is stepping into the AI banking era with the launch of Didi™ - a new digital financial assistant that helps customers manage their day-to-day banking activities and meet their financial goals

    (Logo: http://mma.prnewswire.com/media/466622/Personetics_Logo.jpg )

Didi is a free service available to all Discount's customers through the bank's mobile application. Powered by Personetics' AI and predictive analytics capabilities, it provides customers with personal, timely, and useful information, insight, and advice.

Forward-looking, proactive financial guidance 

Like most banking digital assistants, Didi can respond to customers' inquiries related to their account activity. However, research shows that banks can achieve significantly higher engagement levels with their customers by proactively offering personalized insight and guidance.

Constantly analyzing individual customer transaction stream, the Personetics Cognitive Banking Brain enables Didi to identify and predict issues and opportunities related to specific transactions, personal spending trends, and savings opportunities. It proactively prompts customers with relevant insights, providing a forward-looking view that helps customers manage and control their finances.

Pre-built insights shorten time-to-market  

In addition to advanced AI capabilities, the Personetics solution includes hundreds of pre-built insights tested and proven by leading banks around the globe, enabling Discount Bank to meet a very aggressive deployment timeline. The bank can modify these insights and add new ones to retain complete control over the information presented to customers. In the future, Discount Bank plans to use Didi to offer personalized advice for investment and loan decisions.

Meeting customer expectations for smarter banking  

"We strive to meet the needs of customers today by making banking easier, smarter, and personalized," said Ziv Biron, Head of Strategy, Planning & Finance division at Discount Bank.

"Proactively providing insight and advice, Didi is always one step ahead, empowering customers to be more efficient and effective in managing their money. We take pride in being a leader in adopting new technology and collaborating with innovative fintech players to make solutions such as Didi available to our customers," Said Levi Halevi, Head of Technologies & Operations division at Discount Bank.

"Leading financial institutions such as Discount Bank recognize that access to account balance and transaction history, no matter how efficiently delivered, is no longer sufficient to meet customer expectations in the digital age. Utilizing advanced AI capabilities to provide personalized and proactive guidance is quickly becoming a must-have for financial institutions that want to increase customer engagement, satisfaction, and loyalty," said David Sosna, Personetics' co-founder and CEO. "While digital banking assistants are gaining popularity, the ones that will stand out will be those that deliver smart interactions based on true understanding of each customer's financial behavior and needs."

About Israel Discount Bank  

Israel Discount Bank was founded in 1935, and is a part of the Discount Group. The Discount Group is a global financial group that strives to enable its private and corporate customers to realize their financial goals. The Group provides its customers with comprehensive banking services in all financial activity spheres, through banking companies in Israel and abroad, as well as  finance and capital market & investment, companies.

In Israel, the Discount Group provides banking services to more than one million private and corporate customers, through a network of over 200 branches, business and investment centers and direct, online and mobile channels. The Group is active in all banking and finance spheres through designated corporate, commercial, retail and private banking, as well as capital market services divisions, and through subsidiaries in Israel, mainly: Mercantile, which is a commercial bank providing its customers with a full range of financial services, and in particular retail and small business banking, through 80 branches; CAL, which provides credit products to private and corporate customers; Discount Capital, which serves as the underwriting, investment banking, advisory and real investments arm of the Group; and Tafnit, an investment portfolios management company.

The international activity of the Group is conducted through IDB New York, a commercial bank that offers its domestic and international customers private and commercial banking services, through the New York head office as well as through a number of branches and extension offices.

The Discount Group is a public company whose shares are listed on the Tel Aviv Stock Exchange and are fully held by the public (without a control core).

About Personetics  

Personetics' Financial AI Brain is used by the world's largest financial institutions to transforms everyday banking into personalized interactions that help customers take control of their finances and reach their financial goals.

Featuring a unique combination of built-in financial intelligence and advanced cognitive capabilities, Personetics solutions make AI-powered banking a reality for over 35 million customers today - providing real-time personalized guidance, automating financial decisions, and simplifying money management.

Led by a team of seasoned FinTech entrepreneurs with a proven track record, Personetics has been named a Gartner Cool Vendor, a Top Ten FinTech Company by KPMG, and a Top Ten Company to Watch by American Banker.  

For more information, visit http://personetics.com.

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