Novantas, a leading provider of data, platforms and advisory services to the banking industry, announced today that it has acquired the intellectual property and assets of Amplero, a Seattle-based AI-marketing optimization platform.
Novantas intends to incorporate Amplero’s AI-powered “always-on” machine learning engine into its suite of offerings to banks in marketing, pricing and balance-sheet management, accelerating the ability of banks to transform their capabilities and digitize their offerings. The platform dynamically delivers the right message and offers to individuals based on their unique interactions and individual journeys. During its four years of operation, Amplero has invested significantly in advancing the application of AI in services. The company has compiled a library of proven use cases in banking and retail and has been awarded five important patents in marketing technology.
“Amplero is an ideal acquisition for Novantas. Our clients are increasingly dependent on industry-customized AI platforms that other technology companies cannot provide. Our banking expertise and solutions focus allow us to engineer these technologies around proven use cases to deliver results quickly and reliably,” said Dave Kaytes, co-CEO of Novantas.
“Bank marketing executives are seeking to deliver on the promise of personalized messaging. The platform supercharges existing MarTech capabilities to drive significant lift in customer engagement and financial return without adding staff,” said Sarah Welch, Director of Marketing Solutions at Novantas. “The coupling of AI technology with Novantas’ distinctive expertise and experience in banking is a real advantage to our clients.”
The deal closed on May 7, 2020. Financial terms were not disclosed.