Persado Inc., a leading provider of AI-powered content generation for marketing, is taking significant steps to accelerate its growth and deepen its influence in the financial services sector. Recently, Persado appointed two veteran financial services executives, Somesh Khanna and Steve Mugford, to its Board of Directors. These appointments come on the heels of Persado’s announcement that it has driven $2.5 billion in new revenue for financial services organizations over the past five years.
But what does this mean for Persado and its Motivation AI platform, and how will these new board members impact the company’s trajectory in the AI-powered marketing landscape?
In this post, we’ll break down the significance of these strategic hires and what they mean for financial services companies, marketing professionals, and the broader AI industry.
Persado’s Growth: A Look at the Recent Milestones
Before diving into the qualifications of Somesh Khanna and Steve Mugford, let’s take a moment to reflect on the incredible progress Persado has made in recent years. With Motivation AI, Persado has pioneered a new approach to digital marketing that leverages the power of natural language processing (NLP), AI, and transformer models to craft messaging that motivates consumer action.
Persado’s ability to deliver tangible business value has helped some of the world’s most iconic brands — including Ally Bank, Chase, Kate Spade, Marks & Spencer, and Verizon — achieve higher engagement and conversions. As a result, the company has built a reputation as a trusted partner in the marketing world, especially for organizations in the financial services space.
- Persado’s Motivation AI platform enables marketers to create personalized, emotionally engaging messaging that resonates with customers.
- Financial services organizations, such as banks and card issuers, have been major beneficiaries, with Persado driving an estimated $2.5 billion in new revenue over the past five years.
- The company’s full-stack GenAI platform is trained on a massive dataset from over 1.2 billion consumers, enabling it to refine messaging based on real-world data and emotional responses.
These milestones highlight Persado’s ability to revolutionise marketing through AI and natural language processing.
Why Persado’s New Board Members Matter: Meet Somesh Khanna and Steve Mugford
As Persado continues its rapid expansion, the addition of two highly respected financial services leaders — Somesh Khanna and Steve Mugford — will play a pivotal role in shaping the company’s future.
Somesh Khanna: A Financial Services Visionary
With over two decades of experience in financial services, Somesh Khanna brings unparalleled expertise to Persado’s board. His previous roles, including a 26-year tenure at McKinsey & Company, have seen him work with top-tier financial institutions to drive digital transformation. Khanna’s insights into the AI adoption process within the financial sector will be crucial in advancing Persado’s Motivation AI innovations.
Key Highlights of Somesh Khanna’s Career:
- Co-led McKinsey’s Global Banking and Securities practice, driving digital transformation for top financial services clients.
- Played a key role in launching and scaling McKinsey Digital, a specialised unit focused on financial services and AI.
- Served as CEO of eCredit, where he digitised the trade receivables securitisation process in partnership with JP Morgan.
- Currently, he is the co-executive chairman at Apexon, a technology services company specialising in Data/AI Engineering, with a strong focus on the financial services sector.
Khanna’s wealth of experience and strong network in financial services will be instrumental in helping Persado continue to disrupt the marketing industry and expand its presence with top banks and card issuers.
Steve Mugford: A Strategic Leader in Financial Services and Technology
Steve Mugford, the CEO and Founder of Visceral AI, brings a wealth of experience in market research, data analytics, and financial services strategy. With a career spanning 30 years, Steve has a deep understanding of how data-driven insights and AI technologies can drive business growth.
Key Highlights of Steve Mugford’s Career:
- Headed the Strategy Group at Capital One for over 21 years, where he was instrumental in driving the company’s transformation from a monoline credit card issuer to one of the largest diversified banks in the United States.
- Founded Visceral AI, a cutting-edge market research platform that leverages GenAI to disrupt market intelligence and decision-making processes.
- Holds an MBA from Harvard Business School and a BA in Economics and English from Amherst College.
Mugford’s expertise in financial services strategy and AI is a perfect fit for Persado’s mission to bring more AI-powered innovation to financial marketing. His knowledge of scaling businesses, driving growth, and leveraging data will help Persado navigate the evolving landscape of digital marketing.
Persado’s Motivation AI: Revolutionising Financial Marketing
The combination of Khanna’s deep financial services experience and Mugford’s AI-driven growth strategies will further position Persado as a leader in the AI-powered marketing space.
Persado’s Motivation AI platform leverages advanced algorithms to generate highly effective marketing messages that are optimised for conversion. By understanding consumer psychology and emotional response, the platform helps financial services brands develop compelling messaging that resonates with their target audiences.
How Persado’s AI is Changing Financial Services Marketing:
- Personalised Messaging: Persado’s platform creates highly targeted, personalised messages that increase engagement and loyalty.
- Real-Time Optimisation: The AI continually measures and refines its messaging based on real-time interactions and consumer feedback.
- Increased ROI: Financial services organisations using Persado’s platform have seen measurable improvements in key metrics, such as customer acquisition, retention, and conversion rates.
The addition of Somesh Khanna and Steve Mugford to Persado’s board signals a strong commitment to further advancing AI in financial marketing, allowing the company to expand its global presence and better serve the world’s largest financial institutions.
Conclusion: A New Era for Persado and Financial Marketing
Persado’s appointment of Somesh Khanna and Steve Mugford to its Board of Directors marks an exciting chapter in the company’s growth. With a combined 60+ years of experience in financial services, AI, and data-driven marketing, both Khanna and Mugford are well-positioned to guide Persado as it continues to revolutionise the way financial services organisations engage with their customers.
As Persado expands its capabilities in AI-powered marketing, its Motivation AI platform will remain at the forefront of helping brands in the financial services sector drive higher engagement, increased revenue, and long-term customer loyalty.
The strategic appointments are a clear sign that Persado is doubling down on its mission to lead the future of AI-driven financial marketing.
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