In recent years, the financial services sector has undergone significant changes, primarily driven by digital transformation. As mobile apps take over traditional banking functions and branches become scarce, the human touch in banking has gradually disappeared. Motiv8AI aims to bring back that connection using artificial intelligence (AI) combined with behavioral science.
Bringing the Human Touch Back to Banking
Motiv8AI’s CEO, Boaz Jacobi, explains that while banks have vast amounts of data, they often struggle to truly understand their customers’ motivations. Motiv8AI addresses this gap with its Relationship Intelligence Layer™ (RIL™), which combines AI and behavioral science to analyze customer data from a psychological perspective. This helps banks understand not just what customers are doing, but why they are doing it.
Understanding Customer Motivation
The RIL™ offers a deeper understanding of customer behavior by interpreting data points through the lens of behavioral economics. Motiv8AI’s team of in-house psychologists analyzes these data points to build a more comprehensive understanding of the customer. This approach allows banks to create personalized, human-like interactions at scale.
“We don’t treat data points as neutral facts. We interpret them as signals of human motivation,” says Jacobi. The RIL™ provides a 360-degree view of customers, helping banks anticipate needs and tailor interactions accordingly.
AI-Driven Insights Improve Engagement and Credit Risk
Motiv8AI’s AI-powered system models traits like financial maturity, risk orientation, and motivation patterns. This data allows banks to make informed decisions about extending credit and matching the right products to customers. Motiv8AI’s technology has led to a 35% improvement in creditworthiness assessments, particularly for buy now, pay later (BNPL) offerings. Additionally, aligning communication with customer motivation has significantly boosted response and conversion rates.
“We’re bringing back what digital banking lost—the sense that the bank understands you and is acting in your interest,” Jacobi concludes.
