" class="no-js "lang="en-US"> Codat and Personetics Partner to Enable Better Personalised Engagement for Small Businesses - Fintech Finance
Thursday, May 30, 2024

Codat and Personetics Partner to Enable Better Personalised Engagement for Small Businesses

Codat, the API-based platform for business data, has announced its partnership with Personetics, the leading global provider of financial data-driven personalisation and customer engagement solutions for the Financial Services industry.

Serving over 100 million bank customers worldwide, Personetics’ AI analyses financial data in real-time. It understands customers’ financial behaviour in order to anticipate their needs and act on their behalf. Personetics’ technology enables banks to offer day-to-day personalised insights, financial advice, and automated wellness programs to customers including small businesses. Its Engagement Platform assists banks to quickly increase market differentiation and business impact.

Codat’s API – which provides real-time access to the financial and business data in platforms used by SMEs – will be integrated with Personetics’ end-to-end platform, enabling Personetics to apply its AI to small business data more easily. Personetics’ financial service clients will gain greater insights, product-based advice and intelligence to anticipate the needs of their business customers.

According to McKinsey, AI technologies can help boost revenues by increasing the personalisation of services to customers. Higher automation, lower costs and reduced error rates means resources are more efficiently utilised to uncover new opportunities to generate insights from vast troves of data.

David Sosna, CEO and Co-Founder at Personetics, said: “To stay competitive banks must meet the rising expectations of small business customers and proactively engage them. This partnership is so exciting because we’ve built a platform capable of in-depth analysis of huge volumes of data – Codat now helps our clients to seamlessly access more data from their small business customers, leading to better decision-making and services. This enables clients to self-drive their finance and achieve optimal levels of control that ultimately impacts and increases their customers’ financial resilience.”

Peter Lord, CEO at Codat, said: “There is no question that bringing together business data and AI delivers better outcomes for financial service organisations and their customers. SMEs can reap the benefits of open data by allowing their financial service providers access to the accounting, banking and commerce platforms they use on a daily basis. This approach is unlocking huge value for banks and fintechs and the wider global economy.”


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