Fintech PR

Personetics secures a $75 million investment from Warburg Pincus to accelerate the global expansion of its AI-driven personalization and engagement solutions for financial institutions

Published

4 years ago

February 16, 2021

Personetics, the leading global provider of data-driven personalization and customer engagement solutions for banks and financial services providers, today announced it has raised $75m in growth funding from Warburg Pincus LLC, a leading global private equity firm focused on growth investing. Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. Terms of the transaction were not disclosed.

Personetics offers a proprietary AI software platform to leading banks around the world. Its software touches more than 95 million personal banking customers and analyzes billions of transactions daily. Personetics analyses customer financial data and behavior in real-time, with the data staying safely inside the bank’s ecosystem so that confidentiality is guaranteed.

Banks use Personetics’ agile tools and its low-code Engagement Builder, a Creation & Management Console, to quickly modify hundreds of pre-programmed insights and build customized user journeys. This empowers banks to share real-time personalized insights and advice, as well as automated, self-adjustable financial wellness programs across its customer base comprising both individual banking customers and small businesses.

Financial institutions increasingly recognize the importance of value-driven and proactive digital engagement with their customers and must offer exceptional customer service to retain customer loyalty, whilst exploring ways to monetize these relationships. Operating in a global market worth circa $13 billion, Personetics’ business solutions have become the global market standard and are successfully delivering the vision of ‘self-driving finance’.

The benefits and ROI of providing data-driven, hyper-personalized, engagement to every customer interaction are immediate and substantial. Banks using the Personetics AI software are seeing an up to 35% increase in digital customer engagement, a 20% increase in an account and balance growth and a 15% increase in the adoption of personalized product recommendations and advice.

Flagship clients include many of the worlds leading banks, such as U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).

David Sosna, CEO and Co-Founder of Personetics, said:
“The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement. Personetics has set out down this path and has launched its vision of Self-Driving Finance. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey.”

Peter Deming, Managing Director at Warburg Pincus and Head of Financial Services across EMEA, said: “Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the Neobanks and FinTech apps. David and his team have built the perfect solution for the post-COVID banking distribution model and already secured a world-class client base. Through the combination of our financial backing and Warburg Pincus’ extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world.”

Adarsh Sarma, Co-Head of Europe at Warburg Pincus, said: “Israel continues to offer innovative, high growth investment opportunities across technology, financial technology and financial services, all sectors of particular interest to Warburg Pincus. We have committed almost $700 million of equity to businesses in Israel since our founding which is a testament to the talent and innovation that the country has fostered. In spite of the global pandemic, Israel is very much open for business and we look forward to a fruitful and successful partnership with Personetics.”

Avi Zeevi, Co-founder of Viola Ventures and Personetics’ Chairman, said: “We are happy to join forces with Warburg Pincus, a renowned international investor with an extensive global network and track record of success in the financial services and FinTech sectors. This is further proof of Israel’s ability to generate leading global FinTech companies and for Personetics’ immense potential for disruption across the global banking ecosystem.”

Up Next

DLP Resources Announces Start of Drilling on the Gerry Vent, DD Project

Don't Miss

SmallCapsDaily: Lobe Sciences is a Major Opportunity In the Psychedelics Medicine Industry

Click to comment

Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

17 hours ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

17 hours ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

1 day ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.