Global payments network Klarna is partnering with eCommerce solutions firm Rokt.
The collaboration aims to leverage Rokt’s artificial intelligence (AI) technology to deliver more relevant marketing solutions for retailers and enhance consumer experiences on Klarna’s shopping app, the companies said in a Tuesday (Oct. 17) press release.
“We are dedicated to expanding Klarna’s role as a growth partner for retailers and continuing to offer consumers tailored shopping experiences that meet their preferences,” Klarna Head of North America Kristina Elkhazin said in the release. “Rokt’s technology will complement our own AI-powered shopping feed and create incremental value for both our retail partners and our shoppers.”
Rokt specializes in using AI to make transactions more pertinent to each shopper, presenting targeted offers during the final stages of an eCommerce transaction, according to the release. The partnership offers brands the ability to focus on consumer segments by demographic and location, ensuring that ads shown are important to shoppers.
“By delivering relevant offers to shoppers on Klarna’s shopping app, Rokt will expand Klarna’s marketing solutions across all categories, create deeper consumer connections, and drive incremental profit,” Rokt Chief Commercial Officer Elizabeth Buchanan said in the release.
In addition to enhancing marketing solutions, businesses are recognizing the importance of working capital transparency.
Rokt Chief Financial Officer Nathaniel Katz emphasized the significance of automation and data integration in achieving this transparency in an interview with PYMNTS published in June. Implementing tools such as accounts payable (AP) and accounts receivable (AR) automation can provide companies with the visibility and control necessary for managing cash flow effectively.
Katz highlighted the need for shared data and integrations to ensure that automation tools enhance working capital transparency. By leveraging automation, businesses can transform otherwise opaque data points into valuable insights. However, it is crucial to implement automation software diligently and ensure that teams understand the tools they are using to guarantee data security.
Meanwhile, Klarna highlighted in August its various AI-driven initiatives to enhance performance and improve the experience for its 150 million global customers.
Among its consumer-facing offerings, Klarna has introduced an AI-powered search feature and an Ask Klarna personal shopping assistant that allow customers to access results from a selection of 10 million products.
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