Singapore- and Chennai-based big data company Crayon Data on Thursday announced its partnership with Visa to empower credit card issuers to create AI-led relevance and personalisation solutions for their customers.
In a press release, the company said issuers could create new revenue streams by crafting highly differentiated, financial and non-financial solutions for both cardholders and merchants.
Suresh Shankar, CEO and founder of Crayon Data, said 71 per cent of consumers expect companies to deliver personalised experiences. However, banks are still struggling to offer such solutions due to difficulties with data and technology.
Crayon Data’s proprietary platform, ‘maya.ai’, which is powered by patented algorithms and machine learning (ML), generates simple, easy-to-understand, and relevant insights based on non-personally identifiable information (non-PII) consumer data. “These AI-led insights help enterprises transform customer engagement via hyper-personalisation,” the company said.