Tandem Partners with Cognitive Banking Brain to deliver ‘Worry Free Banking’

Tandem have partnered with leading Cognitive Banking company Personetics to deliver an unparalleled service for their customers.

 The Bank will offer app users personalised insights on their spending across all of their bank accounts in one place, as well as warning people about unexpected fees and unusual activity on their accounts.

Having acquired legacy lender Harrods Bank, Tandem are now delivering on their promise to put the customer at the heart of their products and services.

Tandem is partnering with Personetics, the leading provider of Cognitive Banking applications, to harness the power of artificial intelligence for the benefit of their customers.

Personetics’ Cognitive Banking Brain enables Tandem to offer personalised insights and guidance that anticipate customer needs making it easier for them to manage their money.

“Our primary focus is making money so easy for our customers that they can get on with their life,” said Tandem’s chief executive, Ricky Knox. “Together with our use of Open Banking, Personetics enables us to leverage innovative intelligence to know our customers better, predict their needs, and help them make better decisions about their money with as little effort as possible on their part. We want to do the heavy lifting for them, so they can go about their lives and not worry about day-to-day finances.”

A survey conducted by Red Bricks research on behalf of Personetics, revealed nearly half (45%) of traditional UK bank customers could switch their current account to an alternative and that the key driver when it came choosing a new provider was that they felt that their finances were better understood, better guided and better managed by new providers rather than traditional banks.

Tandem was built with the help of 11,000 co-founders who were fueled by the desire for a better experience with banking. Worry-free banking uses innovative intelligence to show customers what’s coming: Tandem places customer experience at the heart of their services with personalised insights and advice integrated into the bank’s app. These insights are designed to anticipate customer needs, simplify money management, and help customers reach their financial goals.

Tandem customers can expect to see “I’ve got your back” insights, such as unusual spending activity, tips on how to avoid fees, “Heads up” insights, such as a potential balance shortfall or upcoming uncovered bills, and “Get ahead” insights, such as future events which might require savings or investment.

“It’s exciting to see an innovative neo bank such as Tandem integrating customer-facing cognitive capabilities into its core offering,” said David Sosna, Personetics’ Co-founder and CEO. “We see a surge in the adoption of AI by institutions of all sizes, and much of it can be attributed to the renewed focus on the customer experience that challenger banks have been injecting into the marketplace.”