Hyperplane revolutionizes banking with AI: discover their incredible project!

San Francisco-based startup Hyperplane unveils its customer behavior prediction model for banks

Hyperplane, a San Francisco-based startup, is emerging from the shadows by announcing a $6 million fundraising round. The round is led by former Stripe executive Lachy Groom, and joined by SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Soma Capital, Latitud, Atman Capital, Crestone VC and Norte. The general idea here is to help banks use their first-party data to create personalized experiences by predicting user behavior.

Expanding in the U.S. and beyond the banking sector

The company is already working with a dozen banks in Brazil, and now plans to expand into the USA too. Although Hyperplane is currently focusing exclusively on the banking world, the team plans to extend its technology to other sectors in the future.

The founders and the team's expertise

Hyperplane was co-founded by Felipe Lamounier, Daniel Silva, Rohan Ramanath and Felipe Meneses. Lamounier (CEO) has spent the last seven years building StartSe, an edtech startup in Brazil, while Silva and Ramanath previously built large-scale AI systems at Google and LinkedIn, respectively.

The aim of building a personalization layer for banks

"The basic hypothesis we started with was: what does it take to build a personalization layer for banks around the world?" explains Ramanath, "If you think about big technology companies, they have a lot of first-party data, but they've also invested in data infrastructure and enterprise data warehouses to use all that data to understand the consumer, build personalization on every product page, and finally integrate that into the consumer experience itself. Hyperplane's goal is to find out how banks around the world can use their first-party data to build a layer of data intelligence."

Lamounier also highlights the fact that banks have granular data on their customers that is not available to other services. "One of the arguments I use to sell to banks is that the data these banks have about me as a customer is much more likely to capture my behaviors than what Google or Facebook have. It doesn't matter if I go to the Porsche website - that doesn't mean I can buy a Porsche. But Chase or Bank of America, they know what kind of restaurants I frequent, what supermarket I go to. If I take an Uber, what's my financial capacity? All that data is in-house."

Personalized experiences for banking customers

Currently, most banks offer virtually no personalized experience, so the benchmark is low. Yet consumers increasingly expect their banking experience to resemble their other online experiences - especially in a competitive market for banks like Brazil. Basically, Hyperplane provides these banks with the APIs needed to create these personalization models on the fly. All these implementations are private, and the team insists that it does not share any data. Hyperplane also uses its own templates for this purpose.

Hyperplane modules

Currently, the company offers two modules: one for creating audience segments, and the other for creating similar audiences to broaden potential target audiences by finding similar users. "We've found that by building task-specific templates, we can achieve much more efficiency by building something customized and from scratch," explains Ramanath.

Recently, Hyperplane launched Mandelbrot LLM, a model that specifically helps banks predict, for example, when a customer is likely to churn, or which users consider a given bank to be their main bank.

The results of using Hyperplane's services

Hyperplane claims that using its services has enabled the credit limit division of a neobank in Brazil to increase the transaction volume of 46 %, for example, by having a clearer view of its customers' estimated income.

"Brazil has seen a significant pro-competition movement over the past decade, and today we see an ecosystem that is eager to adopt new technologies," Lamounier pointed out. "Hyperplane Cloud can expand to other markets with little effort, and we'll soon be announcing our first partnerships in the U.S."