Moneythor, a personalization engine for financial services providers, has announced its expansion to Latin America.
The regional operations will be led by Enrique Ramos O’Reilly, Moneythor’s President Americas, who has 25 years of experience in banking and fintech.
O’Reilly previously led Temenos‘ Latin America and the Caribbean business for over a decade and has held roles with Sofgen and Finantix.
Moneythor’s platform helps financial institutions build relationships with their customers through personalized content and messages.
The platform delivers the right content and messages to the right customers at the right moment, across the entire customer lifecycle, from acquisition and activation to engagement.
Moneythor’s clients include Standard Chartered and DBS.
Enrique Ramos O’Reilly described Latin America as entering the age of “deep banking,” a trend where transactions are being replaced by engagement, and financial services providers are looking to build genuine relationships with their customers.
O’Reilly said:
“Deep banking is about moving beyond the transaction. It’s about providing tips and insights that are relevant and personal to each consumer, and content that is contextual and reflects the consumer’s actual situation.”
According to research, consumers in Latin America prefer personalized suggestions and expect more personalized service with AI.
In Mexico, 65% of consumers said they prefer to buy from retailers that offer personalized suggestions, while 61% expect more personalized service with AI.
A similar trend is reflected across the region, with 53% of consumers looking for personalized banking offers and 62% expecting organizations to anticipate their needs, according to research from Deloitte.
O’Reilly stated that these expectations are the new “non-negotiables” from today’s consumers, and Moneythor’s expansion to Latin America will enable more banks and financial service providers to create deeper and more valuable relationships with their customers.