Israel Discount Bank gets AI energetic with Personetics
Personetics’ Cognitive Banking Brain is behind Israel Discount Bank’s new artificial intelligence (AI) powered digital financial assistant Didi.
Didi will provide customers with view of their finances, manage their day-to-day banking activities, and offer insights and advice. It is a free service available to all of the bank’s customers through its mobile app – and is powered by Personetics’ AI and predictive analytics capabilities.
The duo say by constantly analysing individual customer transaction streams, the Cognitive Banking Brain enables Didi to identify and predict issues and opportunities related to specific transactions, personal spending trends, and savings opportunities.
Levi Halevi, head of technologies and operations division at Israel Discount Bank, says Didi is “always one step ahead, empowering customers to be more efficient and effective in managing their money”.
In addition to AI capabilities, the Personetics solution includes pre-built insights. The bank can modify these insights and add new ones to “retain complete control over the information presented to customers”.
In the future, the bank plans to use Didi to offer personalised advice for investment and loan decisions. No timelines were offered.
Israel Discount Bank was founded in 1935, and is a part of the Discount Group. The latter has banking companies in Israel and abroad, and finance and capital market and investment companies. The international activity of the group is conducted through IDB New York, a commercial bank.