Bud Financial has launched an artificial intelligence (AI)-driven generative data analytics and marketing automation suite, dubbed Drive.

The suit helps financial institutions leverage their existing customer data to gain timely access to valuable insights, said the US-based transaction and data intelligence platform for the financial services sector.

Drive will allow anyone in a financial organisation to carry out advanced data analytics tasks for marketing, personalisation, segmentation, and customer monitoring.

It will help financial institutions to identify and act on new customer segments by utilising generative technology.

Drive will enable companies to discover patterns and real-time opportunities for up-selling and cross-selling as well as to deliver better customer service actions and experiences.

Bud Financial said that the new capabilities will support financial organisations to precisely and seamlessly generate automated sales, marketing, customer service and customer experience journeys with scale.

Drive features four fundamental elements, which include an AI-driven actionable insights engine, an AI insights analytics finder, an action hub, and a generative AI chatbot called Drive Copilot.

According to Bud Financial, Drive will assist banks and financial services to empower their staff to gain control of their product’s success.

It will also help them get the insights required without excessively depending on technical colleagues and the operational delay associated with it.

Furthermore, Drive and its new generative AI chatbot are expected to save hundreds of hours of data analytics time each month for banks.

Bud Financial CEO and co-founder Ed Maslaveckas said: “Bud is fundamentally a transaction data specialist, and with our new product Drive we have reached a level of expertise and precision where we can unlock an endless array of insights for our clients, enabling real-time customer base analysis and insight, meaningful segmentation and mass personalisation, and sophisticated automated action flows.

“With this new product, we’re excited to support our customers’ move towards more customer-centric operations, which ultimately will massively increase productivity, effectiveness and profitability.”