Personetics Opens New Research & Development Center in Nazareth to Support Continued Growth

The new center enables the company to expand its R&D capabilities to support a rapidly growing customer base of leading banks worldwide

TEL AVIV, Israel, July 22, 2019 /PRNewswire/ -- Personetics, the leading provider of AI-powered personalization and customer advocacy solutions used by the world's top banks, announced the opening of a new Research and Development (R&D) center in Nazareth, Israel.

The new R&D center will support Personetics' continued rapid growth. While the company's R&D team has more than doubled in size in the last two years, further growth is required to support the company's expanding customer base, which now includes more than 30 of the world's leading banks, as well as new solutions the company is bringing to the market including the recently announced small business and banker enablement solutions.  

"The opening of our R&D Center in Nazareth is an exciting development which will enable us to meet the growing demand for AI-powered Self-Driving Finance™ solutions around the world," said David Sosna, Personetics' Co-Founder and CEO. "We are acquiring new customers in North America, Europe, and Asia at a rapid pace, and are adding new hires in all of our offices across the globe – New York, London, Paris, Singapore, and Israel – to support our growth."   

Whlle shortage of skilled programmers is a global phenomenon, increasing the diversity of the R&D pool both geographically and demographically is critical to the future growth of advanced technology companies. "Establishing a center in Nazareth allows us to tap into a hotbed of highly skilled professionals, enabling expansion of our R&D capabilities while maintaining proximity to facilitate close collaboration. Being in the same timezone and less than a two-hour drive away is a big advantage for our teams in Tel Aviv and Nazareth," said Yishay Schwerd, Personetics VP of R&D.

Leading the new R&D center for Personetics is Fowzi Shakkour, a veteran software development and management executive with over 20 years of experience. "It is exciting to see a growing startup such as Personetics opening an office in Nazareth and creating new opportutnities for a diverse range of people that have the right set of skills but have been largely left out of the startup scene in Israel so far," said Shakkour. "We are proud to be one of the first startups to establish presence in this region and look forward to growing our team here."

The opening of Personetics' Nazareth office was aided by the Tsofen organization, which works to integrate skilled Arab workers into the Israeli high-tech industry and bring high-tech companies to Arab cities. Since Tsofen's establishment, the number of high-tech companies operating in Nazareth has jumped from one to fourty. "A decade ago, there were about 30 engineers working in the city. Today there are more than 1,300, a fourth of them females," said Sami Saadi, CEO of Tsofen. "The city now offers a vibrant high-tech ecosystem that attracts employers from all over the country. This is nothing short of a revolution."

July 22 MobileMonday Nazareth – Personetics and the Future of Finance

Personetics wll host the next MobileMonday Nazareth event Monday, July 22, 2019 18:30 - 20:30. The event is free to attend – details and registration can be found at https://www.eventbrite.com/e/personetics-the-future-of-finance-tickets-65102985783.

About Personetics

Personetics is the leading provider of customer-facing AI solution for financial services and the company behind the industry's first Self-Driving Finance™ platform. Harnessing the power of AI, Personetics' Self-Driving Finance™ solutions are used by the world's largest financial institutions to transform digital banking into the center of the customer's financial life – providing real-time personalized insight and advice, automating financial decisions, and simplifying day-to-day money management.

Serving over 60 million bank customers worldwide, Personetics has the largest direct customer impact of any AI solution provider in banking today. Personetics customers include 6 of the top 12 banks in North America and Europe and other leading banks throughout the world.

Led by a team of seasoned FinTech entrepreneurs with a proven track record, Personetics is a rapidly growing company with offices in New York, London, Paris, Singapore, and Tel Aviv. The company 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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