Traditionally, banks used to be very personalised, but as technology has developed this personalisation has been lost. Cognitive banking is bringing personalisation back, only this time it is powered by AI.
In this week’s In Profile, we speak to Udi Ziv, CEO, of Personetics, the AI-driven personalisation firm for financial services, to understand why Ziv is so keen on developing personalised services in the financial sector.
Fintech was created to democratise financial services and make them accessible to all. However, the field has now become very competitive with organisations striving for new ways to secure consumers’ loyalty long term.
Personetics helps organisations improve customer relations and loyalty by improving the level of personalisation offered to each individual customer, ensuring they have a unique, tailored experience with their financial institution – something the modern-day consumer highly values.
Tell us more about your company and its purpose
Personetics is a global AI-driven cognitive banking firm with a vision of ‘democratising financial wellness for all people worldwide’. Cognitive banking bridges the disconnect between financial institutions and their clients, who increasingly expect banks to understand their needs and provide personalised services that assist them in achieving their financial goals. Cognitive banking fosters a win-win situation by enhancing consumer trust, loyalty, and product sales. It comprises six elements:
- Clean, categorise, and enrich transaction data – turning raw payment information into meaningful insights about spending patterns, merchant relationships, and financial behaviours.
- Identify patterns and trends in customer behaviour – from regular bill payments to unusual spending spikes to opportunities for saving.
- Generate personalised insights and recommendations – not just showing what happened, but suggesting what should happen next.
- Automate routine financial decisions – helping customers save money, avoid fees, and optimise their cash flow without constant manual intervention.
- Learn and improve from each interaction – becoming more accurate and relevant over time as it understands each customer’s preferences and patterns.
- Apply advanced AI to align actions with goals — continuously analysing financial behaviour, suggesting adjustments, and automatically optimising decisions to help customers progress toward their chosen financial objectives.
Traditionally, banking was highly personal – your bank manager knew your name, family, goals and financial situation. However, as technology has evolved, that personalisation and human interaction have been lost. At Personetics, we’re bringing it back, but differently. This time, it’s scalable and powered by AI.
What are some of your recent achievements you’d like to highlight?
One of our most significant milestones is reaching 150 million active users worldwide – a clear testament to the need Personetics is addressing worldwide. We are very proud that our platform is not only widely adopted but also highly valued, as reflected in our 4.6 out of five customer rating.
This level of satisfaction demonstrates how impactful and appreciated our services are. Today, we are partnered with over 100 banks across 30 countries, including some of the largest financial institutions in the world, solidifying our role as a trusted and proven innovator in financial technology.
How did you get into the fintech industry?
My passion has always been in the B2B2C space – empowering businesses to serve their customers better by enhancing their value proposition and optimising service delivery. I was drawn to Personetics because its vision of democratising financial wellness aligns perfectly with that mission. I’m also deeply passionate about data and analytics.
No other industry offers more customer data than banking, and what excites me is using that data, especially through advanced AI, to generate meaningful insights on customers’ financial situation. These insights not only allow banks to understand current and future customer needs, but also empowers our clients to take informed actions at the click of a button.
What’s the best thing about working in the fintech industry?
What I love most is that fintech has the power to serve everyone, not just the fortunate few. While only one to three per cent of people typically receive personalised financial advice, fintech solutions like ours are changing that by making financial wellness accessible to all.
Some of our latest research finds that 84 per cent are likely to switch banks to access services that help them reach their financial goals, and 74 per cent would likely display greater loyalty to a bank that helps them achieve their financial goals through timely insights and autonomous spending and saving actions. The data speaks for itself!
The sheer volume and richness of data in banking unlock limitless opportunities to create real value for customers. Developing smart systems that can harness this data effectively is one of the most rewarding challenges of the industry.
What frustrates you most about the fintech industry?
The biggest obstacle is corporate inertia – specifically, the siloed structures and mindsets within large financial institutions that slow down innovation. These internal barriers often prevent banks from leveraging technology to its full potential. Personetics addresses this head-on with our cognitive banking technology, which eliminates silos by creating a unified consumer profile and actionable insights that enable customers to achieve their financial goals more effectively.
How have your previous roles influenced your career?
My career has taught me that even the most powerful technology must be practical and easy to use, especially when working with large, complex financial institutions. It’s not just about having the right tools; it’s about delivering them in a way that fits seamlessly into a bank’s operations and meets customer needs. Empathy and a deep understanding of the customer experience are essential for creating real value.
What’s the biggest mistake you’ve ever made?
Early in my career, I made the mistake of assuming too much. I’ve since learned that everything – from internal processes to customer interactions – all comes down to people. No matter how advanced or well-proven your solutions are, decisions are made by people, and those decisions are driven by emotion as much as by logic. I’ve learned the importance of being ‘smart’ in how you communicate and build relationships, not just being technically ‘right’.
What has the future got in store for your company?
We’re just getting started! Cognitive banking is a significant shift in financial services, akin to what Netflix did for media and Amazon for retail. And while the industry has made strides in digital transformation, it hasn’t fundamentally changed the relationship between banks and their customers. That’s the gap Personetics is closing.
As customer expectations continue to evolve, particularly among Gen Z and digital natives, we see massive potential for global growth. With our proven track record, including customer satisfaction scores averaging 4.6 out of 5, we’re expanding our reach and deepening our partnerships with forward-thinking banks that want to remain relevant and deliver true value to their customers.
What are the next key talking points or challenges for your industry as a whole?
The banking industry is at a crossroads. While many have invested in digital infrastructure, they’ve stopped short at convenience – transferring money or depositing checks digitally is great, but it’s not enough. The challenge now is moving from transactions to transformation.
According to some of our latest research, 84 per cent of consumers say they would switch banks to get a better digital, personalised experience. The data speaks for itself. Banks risk becoming lost behind the times. The key focal point going forward is clear – banks must shift from simply offering digital services to delivering proactive financial guidance, and those that don’t will get left behind.
