SBDA Group, an Ireland-based banking personalisation company, has signed an agreement with lead investor FinSight Ventures and Digital Space Ventures to close the Series A venture investment round.

SBDA Group, an artificial intelligence (AI) company that provides retail banks with solutions to increase customer engagement, intends to utilise the funding to advance its AI-powered customer engagement solution for banks, grow its product suite, and expand its team.

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SBDA Group CEO Nikita Blinov said: “We are delighted to partner with FinSight and DSV, their extensive experience in fintech will help us reach our banking-related goals, including helping all banks evolve with scalable, customised AI-driven solutions from being reactive to becoming proactive and serving as personal financial assistants.”

FinSight Ventures managing partner and co-founder Alexey Garyunov said: “SBDA’s AI technology helps banks and merchants make their product profiles relevant to each customer by solving any problems as they arise. It also identifies the most appealing communication channels with a customer.”

SBDA technology uses in-house AI models in transforming the mix of a retail bank’s internal data and publicly available data about merchants from more than 10,000 external sources into nearly 500 ready-to-distribute real-life facts and highly-personalised AI driven recommendations.