Private bank uses AI technology to connect investors

The challenge

A private wealth bank wished to add value to its services through creating a large corporate network to connect its community of high-net-worth individuals with each other. The network was to be used for knowledge and skills sharing, networking, experience and entrepreneurship – thereby improving the overall customer experience when dealing with the bank.

This targeted a very unique subset of the population, who needed to meet with fellow high-net-worth peers, but who had no way of connecting with one another in a purposeful manner.

The solution

ProFinda initially worked closely with the bank to understand its clients’ needs and ambitions, in order to build a community experience that fitted in with its customer base. A series of workshops were run with the bank’s community management team to understand, in detail, the purpose of the community and the importance of community management. This helped to realise the bank’s vision for the scheme and ensure its success.

When the project is complete, 10,000 high-net-worth individuals will have created their own profiles within ProFinda’s platform, allowing them to discover fellow bank customers who were of interest – or alternatively, to be matched to each other through ProFinda’s intelligent algorithms.

ProFinda continues to run regular training sessions with the bank to ensure its team and the platform users understand how to use ProFinda to connect and find peers. Despite the project still being in its early days, results have been positive enough for the project to be entered into several awards showcasing its success to date.

The results

The project is getting closer to 10,000 high-net-worth individuals being able connect to their peers for one-on-one conversations, access an extensive (and highly valuable) pool of knowledge and share skills and expertise.

Benefits for the bank include being able to showcase an innovative project as a way to set it apart from the competition, especially in an industry that is highly regulated and high risk. By finding out more about its customers, the bank was also able to offer a more personalised banking experience.

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