Discount Bank Takes Home "Best Use of AI" Award for Personetics Powered Auto-Saving Program at RBI European Awards

The Personetics auto-deposit program uses AI to identify and transfer funds in checking accounts to savings accounts

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Dec 10, 2019, 09:00 ET

TEL AVIV, Israel, Dec. 10, 2019 /PRNewswire/ -- Israel Discount Bank took home the award for "Best Use of AI" at the recent Retail Banker International European Awards for their innovative "Auto-Savings" program powered by Personetics. The AI-powered auto-deposit program analyzes the user's monthly expenditures three times a week as well as future forecasted expenses in order to identify funds that can be moved from the checking account into a designated savings account. Notably, the savings tool will never allow the checking account to slip into overdraft.

"Digital innovation and customer success have always been driving forces for Discount Bank, and our Fintech and AI partnerships have helped us bring a new level of service to our customers," said Arik Frishman, EVP, Head of digital & data at Discount Bank. "Winning this award is a testament to the fact that we have chosen the right partner in Personetics to power our commitment to improving our banking services with new technologies."

The solution is embedded in the customer's banking app, enabling complete control of the program with the ability to reduce or boost the sums deposited, as well as a clear "opt-out" option. By proactively assisting in identifying spare change and transferring it to savings with zero effort, customers can accrue a substantial amount of otherwise unsaved money.

"The auto-deposit feature is a key part of our Self-Driving Finance platform that we provide banks to assist them in increasing engagement with their customers to improve their financial wellbeing," said David Sosna, CEO of Personetics. "Discount Bank has invested tremendous energy and resources into creating an exceptional and customer-centric experience, and we are proud that our solutions are playing a role in getting them the recognition they so deserve."

About Personetics:

Personetics is the leading provider of customer-facing AI solutions 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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SOURCE Personetics