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Central Bank taps Personetics for AI-powered money management solution

By Delisha Fernandes

April 02, 2024

  • budgeting tools
  • Cash Flow
  • Central Bank
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Central BankCentral Bank, a regional community bank headquartered in Missouri, USA, will deploy Personetics’ AI-powered financial data-driven engagement platform, to expand its digital financial wellness offerings for its retail customers.

The AI-driven solutions infuse Central Bank’s digital channels with hyper-personalized insights, advice and smart savings tailored to each customer’s financial situation and goals.

“Delivering exceptional digital experiences is essential for promoting healthy, financial growth in our communities,” said Daniel Westhues, Executive Vice President and CMO at Central Bank. “With this AI-driven platform provided by Personetics, we can better understand each of our customers’ unique needs and proactively guide them with personalized financial insights and proactive advice tailored to them.”

Central Bank distinguishes itself with advanced in-house innovation and IT teams that enable the bank to control and evolve the customer experience. Adding Personetics’ AI platform allows Central Bank to enhance and expedite their time to market and to provide hyper-personalized money management guidance and experiences on par with super regional and national banks. Importantly, the platform will enable Central Bank to proactively answer questions their customers may not have even thought to ask — a key advantage in driving financial wellness.

Central Bank is digitally transforming its legacy offerings by moving to an on-cloud implementation, offering its digital users an intelligent dashboard, a goal-based savings experience, and personalized money advice, powered by Personetics. The solution includes unified customer account aggregation enabling Central Bank to compete in the open banking era.

Key capabilities include:

  • A reimagined money management hub replacing outdated budgeting tools
  • Smart savings and wellness programs targeted to individual goals
  • Contextualized, real-time guidance and advice based on cash flow analysis
  • A consolidated view of all internal and external customer accounts for holistic real-time advice.

“Community banks intimately know their customers’ financial lives, but lacked the technology to truly individualize their experience – until now,” said Jody Bhagat, President of Americas at Personetics. “Our AI-powered platform empowers regional and community banks to deliver tailored digital money experiences rivaling national banks.”

Personetics’ powerful financial data-driven personalization engine enables the bank to provide customers with comprehensive money analysis, recommendations, and wellness programs typically available only from the largest institutions.

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