Santander UK has forged a partnership with customer engagement solutions provider Personetics to launch a new digital solution, called ‘My Money Manager’.

Through this new solution, the companies aim to improve customer experience and engagement by delivering artificial intelligence (AI)-driven personalised insights.

Integrated into Santander’s mobile banking app, My Money Manager offers financial tips and personalised financial data-driven insights into spending and upcoming financial commitments.

All these are delivered through a new insights inbox and push notifications.

As the solution is AI-driven, the insights, alerts and tips will be developed continuously whenever the app learns consumer behaviour, preferences and feedback, the bank said.

Features

My Money Manager will provide the expected deposit dates for salaries, pensions and benefits.

The app’s four million users can now use My Money Manager to view cashflow analysis of deposits and regular payments.

They can also view the cashflow analysis of their spending category-wise.

My Money Manager will also issue advanced notification if their bank card about to expire.

It will also notify users regarding upcoming subscription renewals, or if there is an auto-renewal payment from the account.

It will send push notifications if a subscription or bill amount has increased, decreased, duplicated or if a new payment has started.

It also features a spending quiz to help users become aware of their spending.

Santander UK head of customer journey design Andy Warren said: “My Money Manager is the result of a new kind of partnership between Santander and Personetics.

“Working collaboratively, the Personetics team is an extension of our internal teams, generating new use cases and co-creating beyond off-the-shelf solutions.”

Personetics is a portfolio company of Mouro Capital, the successor fund of Santander InnoVentures.

Personetics co-founder and CEO David Sosna said: “We are proud to be working with Santander to provide the technology to deliver personalised, proactive insights that significantly impact a customer’s financial confidence and ability to make lasting improvements to their financial situation.”