Personetics & Plaid team up to boost bank engagement

Personetics has partnered with Plaid to link its customer engagement tools with Plaid's open finance data network.

The tie-up targets banks and credit unions seeking a broader view of customers' finances beyond the accounts they hold directly. By combining internal account information with data from external accounts, transactions, liabilities and investments, lenders can use a single connection to deliver more tailored prompts and recommendations through their existing digital channels.

That matters in a market where many consumers spread savings, borrowing and investment activity across several providers. Financial institutions have long sought ways to remain the main point of contact for customers, particularly as digital banking has made it easier to move deposits and manage money across multiple apps and accounts.

Under the arrangement, Personetics will use data made available through Plaid to power its models and engagement software. This will allow banks and credit unions to generate prompts based on a fuller picture of a customer's finances, including potential debt consolidation opportunities, fee-reduction prompts, and savings suggestions.

Single integration

The partnership is positioned as a pre-integrated option for financial institutions that want to use open banking data without building the connections from scratch. Personetics said the setup is designed to help lenders turn connected account data into customer engagement and stronger deposit retention.

The service is delivered through a bank or credit union's own digital channels rather than through a separate consumer app. That reflects a broader push by financial institutions to keep customers on their own platforms while offering a wider view of personal finances.

Personetics also said its Engagement Builder product can be used with the Plaid connection, allowing institutions to create their own customer journeys, triggers and insights. The company added that banks do not need to develop artificial intelligence models internally for each use case.

Udi Ziv, Chief Executive Officer of Personetics, described the partnership as a way for lenders to act on data held outside their own systems.

"Banks and credit unions have spent years trying to earn a bigger share of their customers' financial lives, and open banking finally gives them a real way to do it," said Udi Ziv, Chief Executive Officer of Personetics. "When we can bring in data from accounts a customer holds elsewhere, we can surface insights that reflect their full financial picture and help them take smarter action based on it, not just what's sitting in one account. That's what builds primacy over time, and it's why we see this as such a natural fit with Plaid."

Open finance

Plaid, which connects financial apps and institutions through its data network, said the partnership addresses a longstanding gap in how banks present customers with information spanning multiple providers. Consumers have often had to leave their main banking platform to see a fuller picture of their finances, it said.

That challenge has become more pronounced as current accounts, credit products, savings accounts and investments are increasingly dispersed. For banks, the risk is that even if they hold a customer's salary account, they may lose deposits, lending opportunities and regular engagement to rival providers.

Adam Yoxtheimer, Head of Partnerships at Plaid, said the partnership is intended to help financial institutions serve customers more fully within their own digital services.

"Financial institutions want to serve the whole customer via their own digital platforms. Historically, customers couldn't stay within those platforms and get a 360° view of their finances through a purpose-built UX," said Adam Yoxtheimer, Head of Partnerships at Plaid. "That's why we are excited to partner with Personetics, who have designed experiences that live within those platforms, enabling financial institutions to identify opportunities and take action across their customers' financial lives, not just what flows through a single account."

Personetics said the combined offering is intended to support measurable outcomes for lenders, including retaining deposits that might otherwise move to other accounts and identifying opportunities for additional products. It added that the broader financial picture could help institutions time customer outreach more effectively.

For consumers, practical uses include identifying ways to save more, avoid unnecessary fees, manage debt and make financial decisions with a wider set of information visible inside their banking app. Such features are becoming more important as digital banking providers compete not only on price and convenience, but also on how effectively they help customers manage their money day to day.

The partnership underscores how open finance data is being used less as a back-end connectivity layer and more as a basis for customer-facing banking tools. Rather than simply aggregating accounts, firms are trying to turn connected data into prompts and actions that appear when customers may be ready to move money, refinance borrowing or build savings.

Plaid's network and Personetics' software are being positioned as one way for banks and credit unions to do that within the primary account relationship, at a time when customer loyalty is increasingly shaped by the usefulness of digital banking experiences rather than by the number of products held with one institution.