Hyperplane, a San Francisco-based start-up, is poised to revolutionize the banking industry with its fundamental models that help banks predict customer behavior.
After raising a $6 million round of funding, led by former Stripe executive Lachy Groom, Hyperplane is preparing to expand into the United States, having worked successfully with a dozen banks in Brazil. The company’s main goal is to use banks’ first-party data to create personalized experiences, predict user behavior and improve customer interaction.
The idea of Hyperplane
The idea for Hyperplane stems from a desire to create a level of personalization for banks around the world. Large technology companies have huge amounts of first-party data and enterprise data infrastructure that they use to understand consumers and deliver personalized experiences.
Hyperplane aims to create a layer of data intelligence so that banks can leverage their first-party data to improve the customer experience. Hyperplane’s founders, Felipe Lamounier, Daniel Silva, Rohan Ramanath and Felipe Meneses, have significant experience in artificial intelligence and data management. Lamounier has spent the past seven years building StartSe, an edtech startup in Brazil, while Silva and Ramanath have worked on large-scale artificial intelligence systems at Google and LinkedIn.
According to Ramanath, banks have granular data about their customers that is not accessible to other services. This allows them to better understand customer behaviors and create personalized experiences. Ramanath says the data banks have on their customers is much more relevant than Google or Facebook. Banks know which restaurants customers frequent, which supermarkets they visit, how much they spend on Uber, and more. Hyperplane aims to use this data to create personalization templates that allow banks to offer tailored experiences for their customers.
Modules offered by Hyperplane
Currently, Hyperplane offers two main modules for banks. The first module allows the creation of audience segments and the second module allows the creation of similar audiences to broaden the target audience.
The goal of Hyperplane is to create specific templates for specific tasks in order to achieve the maximum possible results. For example, the Mandelbrot LLM module helps banks predict when a customer might drop out or which users consider the bank to be their primary bank. Hyperplane says that the use of its services enabled a neobank in Brazil to increase transaction volume by 46 percent, thanks to a better understanding of its customers’ estimated income.
Expansion into the United States and other verticals
After its success in Brazil, Hyperplane decided to expand into the United States. The U.S. banking market is highly competitive and banks are looking for innovative solutions to improve the customer experience. Hyperplane is ready to offer U.S. banks the ability to use their first-party data to improve the personalization of their services.
In addition to the banking sector, Hyperplane plans to bring its technology to other vertical sectors. The goal is to use data intelligence to create personalized experiences in various industries, such as e-commerce, tourism, and more.