Israel Discount Bank is stepping into the AI banking era with the launch of Didi, a new digital financial assistant that helps customers manage their day-to-day banking activities and meet their financial goals
Didi is a free service available to all Discount’s customers through the bank’s mobile application. Powered by Personetics‘ AI and predictive analytics capabilities, it provides customers with personal, timely, and useful information, insight, and advice.
Forward-looking, proactive financial guidance
Like most banking digital assistants, Didi responds to customers’ inquiries related to their account activity. However, research shows banks can achieve significantly higher engagement levels with their customers by proactively offering personalized insight and guidance.
Constantly analyzing individual customer transaction stream, the Personetics Cognitive Banking Brain enables Didi to identify and predict issues and opportunities related to specific transactions, personal spending trends, and savings opportunities. It proactively prompts customers with relevant insights, providing a forward-looking view that helps customers manage and control their finances.
Pre-built insights shorten time-to-market
In addition to advanced AI capabilities, the Personetics solution includes hundreds of pre-built insights tested and proven by leading banks around the globe, enabling Discount Bank to meet a very aggressive deployment timeline. The bank can modify these insights and add new ones to retain complete control over the information presented to customers. In the future, Discount Bank plans to use Didi to offer personalized advice for investment and loan decisions.
Meeting customer expectations for smarter banking
“We strive to meet the needs of customers today by making banking easier, smarter, and personalized,” said Ziv Biron, head of the Strategy, Planning & Finance division at Discount Bank.
“Proactively providing insight and advice, Didi is always one step ahead, empowering customers to be more efficient and effective in managing their money,” said Levi Halevi, head of the Technologies & Operations division at Discount Bank.
“Leading financial institutions such as Discount Bank recognize that access to account balance and transaction history, no matter how efficiently delivered, is no longer sufficient to meet customer expectations in the digital age. Utilizing advanced AI capabilities to provide personalized and proactive guidance is quickly becoming a must-have for financial institutions that want to increase customer engagement, satisfaction, and loyalty,” said David Sosna, Personetics’ co-founder and CEO. “While digital banking assistants are gaining popularity, the ones that will stand out will be those that deliver smart interactions based on true understanding of each customer’s financial behavior and needs.”