#dailydoug An expeditious look at three Santander acquisitions and what they mean.

Curve, Pixoneye, Gridspace Cracking the Santander ecosystem

One quick look at where Santander is throwing its money through its InnoVentures unit will tell you Santander is creating a workflow that gleans intelligence from mobile devices and uses it predict, recommend, execute purchases or simply add it all to a bigger data pool. All without leaving the comfort of the Santander app.

As it adds to its portfolio ithe core areas of interest and the sheer scale of the acquisitions demonstrate they are resolute in their efforts to discover and map the latest innovations to their digital consumer base.

A quick breakdown of their recent acquisitions this finextra article is the best place to start.

The Innoventures path

So lets look at the what InnoVentures has poured resources int: PixoneyeCurve and U.S.-based Gridspace.

Santander have essentially set themselves up on a course of perfect consumer insight. Accumulating three perfect tools from clever, disruptive companies. All are not necessarily tied to the world of finance except for Curve, than lets you link Link all your bank cards to just one Curve MasterCard®. Santander has plans to integrate artificial intelligence, predictive capabilities and streamlined payment solutions into a seamless consumer app.

Break it down by acquisition.

For Pixoneye, a the agreement with a firm like Santander has as much to do with a strategic partnership as it does with gaining customer cred. Santander has a strong enough digital presence that give Pixoneye will a digital playing field on which to prove their worth. For Banks and insurers putting big focus on investing in predictive, personalization to build out their apps, the Santander experiment will be under close scrutiny. Cool.

So what does Pixoneye add to the party?

Well Pixoneye essentially offers predictive personalization capabilities that are can be pushed out to a device. Think about mobile. So when InnoVentures and by deduction Santander, look at Pixoneye they are thinking how they can capture consumers’ changing needs accurately.

With Pixoneye’s technology they will see a direct feed into the customer interests. Santander can tap into photo and video content and figure out what is going on with the consumer. The type of incisive indisputabile consumer insight that can be leveraged…or even sold.

So according to Pixoneye “..Pixoneye has derived 150 characteristics that correspond to the vectors – for example gym-goer, watches sports, wine drinker, or holiday with kids…”

By simple deduction you can envisage a situation where Santander will understand when you are on vacation and whether that vacation is a Ski vacation or Yachting vacation.

Based on what Santander see, they might then plug into a recommendation engine that predicts future actions. Then the backend will pick out some obvious feature and then act on it by recommending a purchase or simple adding to your consumer profile within Santander.

But Pixoneye is only a half of it. Wait til you see Gridspace.

American startup Gridspace speech processing software combines new techniques in the fields of speech recognition, natural language processing and artificial intelligence to turn conversational interactions into structured business data.

So how can you siphon off quality grade information on behavioral patterns of customers?

Well just think about what else you use your phone for. Conversations. GridSpace has then potential to Grade conversations based on artificial techniques. If this is real then Santander can turn conversational interactions into loyalty or performance grades. The same technology can even categorize conversations by assigning topics to conversational interactions that summarize what was said during the call. Best of all the same solution can discover similarities between interactions that share something unusual in common.

Well if the the game is about scanning  your photos and conversations for insights they can they can then build a better picture of  behavioral patterns. By deduction you can easily come up with the next piece in the ecosytem that Santander want.

A sleek connected mobile app that will simplify the way the customer spends

See and save your money. Curve has been used for more than £50 million in payments is the catchphrase. Based in the UK, Curve is the world’s first ‘connected finance’ startup that is currently available to business users. Curve combines multiple payment cards and one mobile app, making moves towards effectively serving customers in a new open banking world.

“Santander’s investment in Curve is exactly the right partnership we believe we need to better serve customers” founder and CEO Shachar Bialick said. “Curve is seeking an unusual position in the emerging marketplace for financial services – to complement, not replace, incumbents and deliver customer value by simplifying mobile access to a growing range of propositions.

All said with the acquisition of Curve by Santander means they can begin to stack up information from conversations and photos across your their customer based and run them through recommendation engines.

Once the recommendation engine kicks in the Curve will enable the fairy tale ending to the workflow by enabling the seamless purchase through the device.

All within the Santander ecoystem.

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