Singaporean multinational banking firm United Overseas Bank (UOB) has partnered with Israeli fintech Personetics to modernise its artificial intelligence (AI)-based solutions in a step to improve customer services in Southeast Asia.
The arrangement, which also includes UOB investing in the fintech firm, will enable the lender to utilise Personetics’ cognitive analytic capabilities to procure better insights from the transactional data.
These insights will help the firm to gain better idea about transaction patterns of every customer and serve them with customised guidance and services.
Accordingly, the UOB customers can optimise their expenses and saving patterns to achieve their financial goals.
UOB head of regional digital bank and strategic initiatives Dennis Khoo said: “Given the advances in AI, machine learning and data analytics, we will use Personetics’ tools to deepen our understanding of customer behaviour and to design more innovative, responsive and responsible digital banking services.
“Personetics’ powerful AI-driven solutions will complement our existing AI capabilities and enable UOB to take a giant leap forward in having meaningful digital conversations that will help customers make better financial decisions.”
The Personetics’ AI solution suite features various cognitive analytics tools including machine learning and pattern recognition algorithms.
Developed over five years, the suite enables conducting intelligent conversations with the customers to facilitate engagement and ensure better digital banking experience.