Using AI to offer customers smart, contextual promotions – just when they need them

As part of PayKey’s offering, banks can use the Social Banking Solution™ to promote value-added services, embedding promotional messages onto the keyboard and placing them right in front of users. While this type of promotions can be targeted to specific user segments, PayKey is now harnessing the power of AI to offer a new generation of personalized messages – making the keyboard an even more effective channel for promotions.


The new type of personalized promotions is based on advanced contextual analysis of the text that users type as part of their everyday chats. Once they use specific expressions that reflect a financial need, the AI draws inferences and offers these users a specific banking service that meets this need. For instance, a college student who complains in a group chat that he’s “maxed out” will get a personalized message offering him a personal loan. Similarly, using the expression “I need to pay him” will trigger a message that offers that user to make an instant P2P transfer.


Why is this service so valuable? Facing growing competition from Big Tech, as well as from traditional financial institutions, Banks today realize that having intuitive and engaging user experience is imperative in retaining customers. AI enables us to crack into users’ intent and understand the context of their conversation, offering them what they’re looking for – just when they need it. This kind of smart, contextual promotions help banks to deliver a superior mobile experience, while promoting revenue generating services, such as taking a loan or ordering a new credit card.


Keeping our users’ privacy is the cornerstone of everything we do, guiding us in any new feature we offer. This is why this service, as well as other contextual, AI-based services that would be introduced in the future will be based on users’ decision to opt-in and opt-out at any time, giving them the flexibility of choosing the type and frequency of the promotions they’re getting at any moment.