Moneythor, a provider of personalisation engines for financial services, has announced its expansion into Latin America under the leadership of a former Temenos head Enrique Ramos O’Reilly.
The company aims to meet the growing demand for deeper, more meaningful banking relationships in the region, leveraging its technology to enhance customer engagement and satisfaction.
Latin America is on the brink of a banking transformation, entering what Moneythor Americas president, O’Reilly, describes as the era of ‘deep banking’. This shift focuses on moving beyond mere transactions to create genuine, meaningful engagements between financial institutions and their customers.
Moneythor’s technology facilitates this by delivering personalised tips, insights and contextual content that resonate with individual consumer needs, further incorporating lifestyle elements to enhance the banking experience.
“Increasingly, it’s also about offering services and experience beyond finance that incorporates lifestyle elements to deepen the relationship and ensure distinction,” says O’Reilly. “And it has already reached Latin America. Today, consumers will simply ignore propositions that are untimely or irrelevant; and these rules are equally applicable when it comes to financial services providers.”
In Mexico, 65 per cent of consumers said they prefer to buy from retailers that offer personalised suggestions, while a similar proportion (61 per cent) ‘expect more personalised service with AI’. According to research from Deloitte, ‘hyperpersonalisation’ is a growing expectation among consumers: 53 per cent are looking for personalised banking offers and 62 per cent expect organisations to anticipate their needs.
“These are the new ‘non-negotiables’ from today’s consumers,” O’Reilly also added. “Moneythor’s expansion
to Latin America means that more banks and financial service providers will be able to take advantage of these exigencies to create deeper – and more valuable – relationships with their customers.”
