US-based fintech firm Novantas has taken over the assets and intellectual property (IP) of Amplero, an AI-powered marketing optimisation platform.
The deal, whose value was not divulged, completed on 7 May 2020.
Novantas is a provider of technology solutions, data, and analytic advisory services for banking institutions.
It currently offers marketing, pricing and balance-sheet management solutions to banks.
Novantas will now integrate Amplero’s AI-powered “always-on” machine learning engine into its suite.
It will leverage Amplero’s platform to allow banks to transform their capabilities and digitise their offerings.
The platform uses KPI-driven messaging to take advantage of customer data and deliver the right message to individuals depending on their unique interactions.
Novantas co-CEO Dave Kaytes said: “Amplero is an ideal acquisition for Novantas. Our clients are increasingly dependent on industry-customised AI platforms that other technology companies cannot provide.
“Our banking expertise and solutions focus allows us to engineer these technologies around proven use cases to deliver results quickly and reliably.
Novantas marketing solutions director Sarah Welch said: “The platform supercharges existing martech capabilities to drive significant lift in customer engagement and financial return without adding staff.
“The coupling of AI technology with Novantas’ distinctive expertise and experience in banking is a real advantage to our clients.”