Toronto’s Sensibill, the leading provider of everyday financial tools and SKU-level insights, launched their new Sensibill Platform today, which includes two new solutions, Spend Manager and Spend Insights.
The Sensibill Platform bridges the gap between everyday spend and long-term financial wellness, providing financial institutions with the deep data and insights they need to nurture financially resilient customers that bank with them for life. With the Sensibill Platform, banks and credit unions can dive beneath the surface of customer data, right down to the SKU-level, to better understand their customers and finally get personalization right.
With Spend Manager, Sensibill makes tracking everyday expenses quicker and easier, helping end-users build healthier financial habits. The solution delivers instant achievements and individual, behavior-based tips, creating strong incentives for users to share more receipts to receive personalized recommendations that support them across every life stage and their unique financial needs. These incentives and tips increase user engagement and retention by delivering value from the first uploaded receipt.
Spend Insights takes the SKU-level data collected from Spend Manager and makes it actionable. Built on advanced AI and machine learning-driven technology, Spend Insights combines a customer’s receipt and transaction data, then aggregates and analyzes the information through sophisticated models to determine custom segments, revealing key insights into life stages, lifestyles, psychographics, brand loyalties, behaviors, and values. This information, which is based on SKU-level data previously unavailable to institutions, is shared back with them to determine which financial products and services best fit that customer’s unique financial needs.
The Sensibill Platform equips financial institutions with robust digital engagement and SKU-level intelligence solutions that enable them to identify customer needs faster and more accurately than ever before. Banks and credit unions can now proactively help customers save money and optimize their everyday spend by tracking their transactions, gathering insights into warranties and returns, categorizing purchases based on spend, optimizing budgets and bulk purchase suggestions, providing tax tips, and much more.
“Sensibill is empowering institutions of all sizes to harness SKU-level data to offer personalized experiences and recommendations that help make customers’ hard-earned money go further,” explained Corey Gross, Co-founder and CEO of Sensibill. “The time to act is now—by better contextualizing the transaction-level data they already have with SKU-level insights, institutions can help their customers make smarter financial decisions. Those that do will retain loyalty and expand market share while making financial wellness more attainable for all.”