Personetics Launches PrimacyEdge – Driving Bank Primacy with Cognitive Banking

Personetics, the global leader in AI-powered Cognitive Banking, today announced the launch of PrimacyEdge, a groundbreaking product designed to help banks achieve primacy by understanding their customers’ relationships with other financial institutions, and providing a personalized, programmatic approach to strengthening loyalty and increasing share of wallet. PrimacyEdge is part of Personetics’ Engage product suite. 

Today’s frictionless financial marketplace makes it easy for consumers to bank with multiple financial institutions. Research shows that most use comparison sites and hold accounts at two or more institutions, making it difficult for banks to build primacy and retain profitable, long-term relationships.  

PrimacyEdge adds to the Cognitive Banking Platform’s ability to drive customer engagement and product sales. It tackles Primacy challenges by assisting banks in detecting customer activity with other institutions and proactively delivers relevant, contextual offers that better satisfy customer needs and support their financial goals. It encompasses the entire customer lifecycle, from activation to deepening and retention, with a systematic approach that converts financial data indicators into timely, proactive actions that foster primacy.  

PrimacyEdge’s flexibility enables banks to create their own primacy strategies and customize engagement flows that match their unique goals. 

Udi Ziv, Personetics CEO said: “With PrimacyEdge, banks can finally see a fuller picture of where their customers are banking—and more importantly, use that insight to deliver timely, relevant offers that help customers bring more of their financial lives into one trusted relationship.” 

Michael Bernard, Senior Analyst at Celent, said: “Our research shows that most North American bank executives believe it’s more difficult to win and keep customers today, so the industry needs innovation to foster deeper, more profitable customer relationships, and win the battle for primacy. Understanding each customer’s needs and helping them reach their financial goals will achieve this.”    

For more details on the state of primacy, read Personetics’ article titled: How to Prevent Churn & Grow Wallet Share: Bank Primacy Playbook here, and be sure to check out our PrimacyEdge video here.