Author: TheFintechBuzz.com

robomarkets-integrates-acuity-trading’s-advanced-ai-technologies-to-enhance-client-offerings

RoboMarkets Integrates Acuity Trading’s Advanced AI Technologies to Enhance Client Offerings

October 26, 2023 Published by

 

RoboMarkets, a European brokerage company, has announced a strategic partnership with Acuity Trading, renowned for its advanced AI-driven trading technologies. This alliance emphasises RoboMarkets’ commitment to offering its retail and professional clients refined, alternative perspectives on the financial market, ensuring they maintain a competitive edge in their trading endeavours.

In its effort to empower its traders with augmented trading experiences, RoboMarkets is poised to integrate Acuity’s innovative AI-driven tools, including the Economic Calendar, AnalysisIQ, and AssetIQ. This collaboration enriches the decision-making capabilities of RoboMarkets’ traders and underscores the Company’s commitment to offering a comprehensive perspective on the financial market.

RoboMarkets’ traders will gain access to advanced tools including:

  • Acuity’s AI-Powered Economic Calendar: this tool offers real-time insights. It equips traders to navigate market volatilities and uncertainties with AI-enhanced filtering and vivid indicators, transforming these challenges into actionable trading opportunities.
  • Acuity’s AnalysisIQ: this technology, originating from Signal Centre and acquired by Acuity in 2021, operates under FCA regulation. It provides traders with professional, dependable market research and trade signals, bolstering their trading strategies and decision-making processes.
  • AssetIQ: this robust research tool provides traders with a comprehensive, unified view of global market assets, ensuring that the latest and most relevant data is always available to assist them in making informed trading decisions.

RoboMarkets has consistently aimed to continually enhance its offerings and provide clients with innovative tools based on the latest technological breakthroughs. The partnership with Acuity Trading underscores RoboMarkets’ commitment to continuously refining its offerings with cutting-edge tools.

As a CySEC-regulated entity, RoboMarkets remains steadfast in prioritising the evolving needs of its traders. With a diverse range of over 3,000 instruments, including US Stocks and ETFs, available for trading and investment, the Company reinforces its dedication to maintaining a leading position in the trading industry by integrating with Acuity Trading’s innovative tools.

medius-appoints-emma-brown-to-chief-financial-officer-as-the-company-aims-to-double-revenue-by-2025

Medius Appoints Emma Brown to Chief Financial Officer as the Company Aims to Double Revenue by 2025

October 26, 2023 Published by

 

Medius, a leading provider of AP Automation and wider Spend Management solutions, today announces the appointment of Emma Brown as Chief Financial Officer (CFO).

Brown joins Medius at a pivotal moment in the company’s growth. Medius has made significant acquisitions recently, including expense management software company Expensya in July 2023 and OnPay Solutions, a Jacksonville-based invoice payments provider, in March 2022. In August, the global fintech opened a new US headquarters in Jacksonville, Florida in a move that represents a larger commitment to the Jacksonville community, as it emerges as one of US’s hottest spots for fintech growth.

Based in London, Brown will be responsible for guiding Medius through its ambitious plan to double turnover by 2025 and for the long-term financial health of the company as it executes on its mission to eliminate fraud and inefficiencies through autonomous, AI-driven AP and spend management. As a leader of digital transformation throughout her career, Brown will champion product development, representing the views of core Medius customers, as CFOs seek increased productivity and financial control.

Brown holds 14 years’ of experience scaling high growth global technology and people-based businesses. She joins Medius from consumer intelligence accelerator platform Talkwalker, where she acted as the Group Chief Financial and Operating Officer and retains a board position. Prior to Talkwalker, Brown worked in the tech sector in both the UK and Australia, including at MedicalDirector, Smartways Logistics and Altium. She is a chartered accountant with a background in audit and advisory gained at EY, BDO and KPMG.

Brown holds an MBA from the University of Sydney where she was awarded a scholarship from the UN Women National Committee Australia, an organization which promotes gender equality in leadership and the economic empowerment of women. Brown received the scholarship, in recognition of her commitment to positive and inclusive social change, especially in her advocacy of parental leave and diversity policies.

Emma Brown, CFO, Medius, comments: “CFOs today are facing a number of challenges, including attracting and retaining top talent, managing cashflow and risk in a volatile economy, and staying ahead of the curve on emerging technologies, including AI. I see firsthand how Medius can solve these issues and my belief in the product is an important reason for joining the business. With the company’s history of sustainable growth, I’m eager to deliver on its exciting ambitions as a strategic and entrepreneurial CFO.”

Jim Lucier, CEO, Medius, comments: “We’re proud to welcome Emma at a crucial juncture for the business. As we continue our efforts to double our revenue over the next two years, Emma’s expertise as a transformational financial leader will help make this a reality.”

jamie-samaha-appointed-ceo-of-reward;-outgoing-founder-shifts-focus-to-international-expansion-and-corporate-growth

Jamie Samaha Appointed CEO of Reward; Outgoing Founder Shifts Focus to International Expansion and Corporate Growth

October 26, 2023 Published by

 

Reward, a pioneering force in commerce media, customer engagement, and data insights, is thrilled to announce the appointment of Jamie Samaha as its new Chief Executive Officer. This strategic move aims to guide the company through an exciting new chapter of global growth and expansion.

With a stellar global career spanning over two and a half decades, Mr. Samaha brings a wealth of experience to Reward. His experience spans 7 years at Mastercard, where he was Executive Vice-President Loyalty & Engagement Services, and built digital-first differentiated consumer value propositions for Mastercard’s customers across 60+ markets. Most recently he served as Group CEO of Prezzee and oversaw the international scale-up phase of the Australian fintech unicorn earning recognition as Deloitte’s TechFast 50 and Australian Financial Review’s #1 Best Place to Work in its category. Mr. Samaha’s experience also includes serving as Managing Director of Pinpoint from 2010 to 2014, supporting the company’s expansion into multiple Asian markets and concluding in its acquisition by Mastercard in 2014. Beyond his corporate achievements, Jamie is a passionate advocate for gender equality and has actively served on advisory boards across various sectors. His commitment to making a positive impact extends beyond the boardroom, reflecting Reward’s dedication to values that go beyond financial success.

“I’ve long held admiration for Reward’s outstanding work, led by Gavin, and it’s an honour to lead this remarkable company that he and his team have built. With established offices in London, Belfast, Singapore, and Dubai, our immediate focus is to propel Reward’s presence across these markets and beyond” said Samaha. “As the new CEO of Reward, my vision is clear: we’re at the cutting edge of customer engagement, commerce media, and data insights. I’m committed to preserving our exceptional culture while elevating our operational focus to achieve global success.”

With Jamie assuming the role of CEO, current Founder and CEO, Gavin Dein, will step away from daily managerial responsibilities and into a Founder & Deputy Chairman role, where he will focus on supporting international growth initiatives and corporate development from the U.A.E. Effective immediately, this carefully orchestrated transition has seen Jamie working closely with the outgoing CEO over the past five months, immersing himself in the business to ensure seamless continuity for customers, partners, and the leadership team.

“Collaborating with Jamie at Mastercard and Prezzee provided me with a front-row seat to his transformative leadership style. Jamie embodies dynamism, inspiration, and, most crucially, resonates with our corporate culture and values. I’m convinced he is the visionary that Reward needs as it gears up for its next global ascent. My passion for Reward’s vision and mission remains unyielding, and I eagerly anticipate supporting Jamie and our fantastic team as we navigate this promising transition said Mr Dein.

sps-2023:-rockwell-automation-to-show-state-of-the-art-solutions-for-accelerating-digital-transformation-and-increasing-productivity

SPS 2023: Rockwell Automation to show state-of-the-art solutions for accelerating digital transformation and increasing productivity

October 24, 2023 Published by

 

Rockwell Automation Inc., the world’s largest company dedicated to industrial automation and digital transformation, will showcase its cutting-edge technology and solutions at SPS 2023, taking place from 14–16 November in Nuremberg, Germany.

Rockwell will showcase its comprehensive portfolio of intelligent devices and software solutions for the manufacturing industry, including highlights such as:

  • The cloud-based FactoryTalk® Design Studio™ software for system design
  • The open, scalable, FactoryTalk® Optix™ HMI visualization platform
  • The FactoryTalk® Edge Manager for intelligent management of industrial edge devices and apps
  • An OTTO Motors robot model, illustrating how autonomous mobile robots allow the next level of lean manufacturing by autonomously connecting work cells and moving material across facilities
  • The ArmorKinetix Distributed Servo Drives, Rockwell’s modular, expandable solution for motion control needs
  • The ArmorBlock 5000™ I/O, including the Bulletin 5032 IO-Link
  • The Stratix® 5200 fully managed switch

Visitors can see a wide variety of other Rockwell solutions, including its Plex MES, augmented reality and artificial intelligence technologies, as well as security solutions.

“As part of Rockwell’s broad offering, all these solutions help companies best achieve and accelerate their digital transformation, achieve better business outcomes and enable other benefits, including increasing productivity, empowering people, boosting sustainability and building resilience,” said Uwe Keiter, OEM director and managing director Germany, Rockwell Automation.

This year, the Rockwell Automation stand is in Hall 3C, Booth 320. Rockwell’s new location allows closer proximity to several partners, including 13 that will be co-located in its booth showing complementary technologies such as wireless networks and communication, robotics, motion and cybersecurity.

Jan Van Den Bossche, EMEA regional vice president, technology and domain expertise, Rockwell Automation, said: “The key lies in combining data, technology and domain expertise – from the design phase through seamless operations down to predictive maintenance and sophisticated lifecycle services. With design, operations and maintenance solutions we support machine builders and end customers in the various industries in manufacturing more efficiently and smartly. While the main goal is to raise productivity of our customers, benefits clearly include a more sustainable and resource-friendly, more flexible and safer production of goods.”

japan-e-commerce-payment-market-report-2023:-market-to-grow-to-$25690-bn-by-2028-from-$140.37-bn-in-2022-–-qr-codes-and-mobile-payments-power-japan’s-booming-e-commerce-landscape

Japan E-commerce Payment Market Report 2023: Market to Grow to $256.90 Bn by 2028 from $140.37 Bn in 2022 – QR Codes and Mobile Payments Power Japan’s Booming E-Commerce Landscape

October 24, 2023 Published by

 

The “Japan E-commerce Payment Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” report has been added to  ResearchAndMarkets.com’s offering.

Japan E-Commerce Payment Market is projected to grow to US$ 256.90 Billion by 2028 from US$ 140.37 Billion in 2022, growing at a CAGR of 10.60% from 2022-2028

Japan boasts one of the world’s largest and most advanced e-commerce markets. As the fourth-largest e-commerce market globally, Japan has experienced rapid adoption of mobile payments, leading to billions of dollars in transactions. Mobile payments in Japan primarily rely on technologies like NFC and QR codes. Younger, tech-savvy generations find it particularly convenient to use their smartphones for payments, either through dedicated payment apps or by scanning QR codes.

Popular QR code payment brands in Japan, such as PayPay, Line Pay, and MerPay, are actively leveraging rewards and incentives to enhance customer loyalty and satisfaction. This approach aligns with the growing trend of mobile shopping in the country, which has seen significant growth in the e-commerce payment industry.

However, it’s worth noting that while Japan is known for its technological advancements, the adoption of mobile commerce payments remains relatively low due to the continued use of desktops and a significant aging population that may be less inclined to embrace smartphones.

The government’s “Cashless Vision” initiative aims to boost cashless settlements from 18.4% to 40% by 2025. To achieve this goal, the government is encouraging credit card companies to adopt APIs (Application Programming Interfaces), responding to the demand for secure and convenient fintech services. The promotion of API integration is expected to accelerate the adoption of cashless payments and drive digital transformation within the financial services sector.

The Japanese e-commerce industry is currently experiencing rapid growth, accompanied by the emergence of key consumer trends. Three notable trends shaping this landscape are sustainability, omni-channel shopping, and ID payments. E-commerce companies are recognizing the significance of these trends and adjusting their strategies to cater to evolving consumer preferences.

ID payments, in particular, offer customers secure and convenient payment options while enabling a more personalized shopping experience. As these trends continue to influence the Japanese e-commerce sector, companies that prioritize sustainability, seamless shopping experiences, and secure payment methods are likely to thrive in this evolving landscape.

In Japan e-commerce payment industry, media products hold the largest market share

The payment market for media products in Japan is currently the most significant, reflecting the country’s strong inclination towards digital media consumption.

Japan has a tech-savvy population that highly values digital content, and as a result, Japanese consumers are actively using a variety of payment methods to access and purchase media products such as streaming services, e-books, and digital downloads. This dominance underscores the changing landscape of media consumption in Japan and the increasing demand for convenient and secure payment solutions in the market.

On the other hand, the apparel and footwear segment has emerged as the fastest-growing sector in Japan’s e-commerce payment industry. With the significant rise in online shopping and shifting consumer preferences, there has been a substantial increase in the demand for convenient and secure payment methods for purchasing apparel and footwear.

E-commerce platforms and retailers are making efforts to enhance the payment experience by offering seamless transactions and implementing innovative payment solutions to cater to this growing trend. The rapid growth in the apparel and footwear sector highlights its importance within Japan’s evolving e-commerce landscape.

Credit card payments are the dominant force in Japan e-commerce payment industry, holding the majority of the market
Japan mobile payment sector is experiencing rapid growth, making it the fastest-growing segment in the country’s e-commerce payment industry. With the widespread use of smartphones and the convenience they offer, Japanese consumers are increasingly embracing mobile payment methods for their online transactions.
In a move to address the challenges faced by foreign workers in Japan and promote market expansion and deregulation, the Japanese government is planning to implement a digital salary payment system by spring 2023. This system enables companies to transfer salaries directly to workers using smartphone payment apps, bypassing the need for traditional bank accounts.

By promoting this initiative, the government aims to facilitate financial inclusivity, enhance convenience, and stimulate economic growth in the country. This trend is driven by the ease of use, enhanced security measures, and seamless integration with various e-commerce platforms. As mobile payment technologies continue to advance, their popularity and adoption are expected to further propel the growth of Japan’s e-commerce payment industry.

Credit cards offer convenience, security, and widespread acceptance, making them a preferred choice for online transactions. With well-established credit card networks and a culture of credit card usage, Japanese consumers rely on this payment method for their e-commerce purchases. While alternative payment methods are growing, credit cards continue to maintain their stronghold as the primary mode of payment in Japan’s e-commerce landscape.

Key Company

The Japan e-commerce payment market is dominated by major players such as Rakuten Group, Suica, PayPay, Origami, merPay, and D-barai.

These companies play a significant role in shaping the landscape of e-commerce payments in Japan. With their innovative payment solutions and strong market presence, they cater to the diverse payment needs of consumers and businesses alike.

The competition among these key players fosters technological advancements, improved user experiences, and a wide range of payment options, contributing to the overall growth and development of the e-commerce payment market in Japan.

Company Analysis: Overview, Recent Development, SWOT Analysis

  • Rakuten Group
  • Suica
  • PayPal
  • Origami
  • merPay

Payment Method – Japan Ecommerce Payment Market has been covered from 6 viewpoints:

  • Credit Card
  • Convenience Store Payment
  • Direct Carrier (Billing)
  • Mobile Payment
  • Cash on Delivery
  • Other

Segment – Japan e-commerce Market has been covered from 14 viewpoints:

  • Media Products
  • Apparel and Footwear
  • Food and Drink
  • Personal Accessories and Eyewear
  • Consumer Electronics
  • Beauty and Personal Care
  • Home wares and Home Furnishings
  • Consumer Appliances
  • Consumer Health
  • Traditional Toys and Games
  • Pet Care
  • Home Improvement and Gardening
  • Video Games Hardware
  • Home Care

For more information about this report visit https://www.researchandmarkets.com/r/vi18z8

ltx-by-broadridge-launches-bondgpt+-to-empower-enterprise-financial-services-clients-with-custom-generative-ai-solutions

LTX by Broadridge Launches BondGPT+ To Empower Enterprise Financial Services Clients with Custom Generative AI Solutions

October 18, 2023 Published by

 

LTX, a subsidiary of global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of BondGPT+, the enterprise version of its award-winning BondGPT application, which incorporates Broadridge’s unique patent-pending technology and OpenAI GPT-4 to answer complex bond-related questions and rapidly assist users in their identification of corporate bonds on the LTX platform. BondGPT+ contains a range of new capabilities focused on the needs of its most sophisticated enterprise clients.

“Since the successful launch of BondGPT in June 2023, we have received overwhelmingly positive feedback and thoughtful suggestions from our clients,” said Jim Kwiatkowski, CEO of LTX. “Based on that feedback, we have moved quickly to incorporate clients’ own data as well as a range of new features in the second generation of BondGPT. The result is that BondGPT+ not only meets our clients’ enterprise requirements, but also sets a new standard for generative AI solutions in the financial industry by providing a single natural language interface for seamless access to much of the data used by busy fixed income professionals.”

Enterprise data and workflow integration
BondGPT+ allows clients to securely integrate their own data and other third-party datasets, providing easier access to critical information. Offering multiple implementation options and a robust API suite, BondGPT+ seamlessly integrates into clients’ enterprise applications, including trading workflows. This means businesses can harness the full spectrum of BondGPT+’s natural language capabilities to receive quick answers to complex questions, which can help clients optimize portfolio strategies and make better-informed trading decisions when time is of the essence.

User-level customization and premium features
The personalized BondGPT+ dashboard with resizable answer panels allows users to take up as much or as little screen real estate as required. Critical questions can be saved as “favorites” on the dashboard and scheduled to run at a desired frequency, time of day, or when key data changes. Users can tailor BondGPT+ to their requirements by adding preferences that should be considered when generating responses. For example, if a user or firm has a policy where they only trade high yield bonds that are above a certain credit rating, BondGPT+ can be instructed to only include those types of bonds in its responses.

Accuracy, security, and control
From the first instance, BondGPT was created with architectural design patterns that ensure accuracy, data security, and privacy. These principles are equally central to BondGPT+ enterprise implementations, and they are especially critical given the capabilities within BondGPT+ to integrate with proprietary client data and systems.

Because it was purpose-built for institutional fixed income users, accuracy is paramount in BondGPT, and BondGPT+ continues this heritage. The application relies on verified, curated data sources, which mitigates hallucination risk and eliminates the need to pass sensitive data through the LLM.  Further, explainable AI capabilities allow users and administrators to understand how BondGPT+ arrives at its responses. The patent-pending technology behind the “Show your work” feature offers transparency by showing, step-by-step, how each response was created.

Another key differentiator of BondGPT+ is its focus on enterprise control and governance. With its Admin Center, system administrators gain the ability to configure various levels of data access through user and firm level entitlements. BondGPT+ builds on BondGPT’s AI-powered compliance layer, allowing compliance officers at client firms to add custom rules based on their firm’s unique compliance and risk management processes. AI-powered usage analysis provides invaluable insights into user interactions with BondGPT, offering businesses a powerful tool for improving user engagement.

“Generative AI has the potential to transform the financial services industry by bringing unparalleled efficiencies to core operations,” said Jean Sullivan of Celent. “BondGPT is a transformative industry-first use case that enables streamlined pre-trade fixed income workflows. By integrating BondGPT+’s natural language capabilities and curated data sources with clients’ own data in their own systems, LTX is helping market participants make smarter, more streamlined decisions through easier access to the mountains of disparate data they deal with every day.”

For more information about BondGPT+, please visit www.ltxtrading.com/bondgpt.

fenics-market-data-announces-strategic-partnership-with-ze-powergroup-to-distribute-energy-and-commodities-market-data

Fenics Market Data announces strategic partnership with ZE PowerGroup to distribute Energy and Commodities Market Data

October 17, 2023 Published by

 

Fenics Market Data, a division within BGC Group, Inc. (Nasdaq: BGC) (“BGC Group” or “BGC” or the “Company”), today announced it is partnering with ZE PowerGroup (“ZE”) to bring its full suite of energy and commodities pricing data to clients through ZE’s award winning data management solution, ZEMA. The timing of this strategic partnership is reflective of BGC Group’s expansion through the acquisitions of Ginga and Trident to complement GFI’s strong commodities franchise.

This partnership will provide a comprehensive over-the-counter data solution, empowering users to gain deeper insights into market dynamics and make better informed decisions. By leveraging Fenics Market Data’s expertise in pricing data and ZEMA’s complete end-to-end automated data, analytics, and integration service, the partnership aims to provide clients with enhanced services to manage their entire energy and commodities portfolios from a single source.

Rich Winter, Global Head, Fenics Market Data, said, “energy and commodity trading firms require consolidated data solutions to manage increasing market volatility. Delivering our unique datasets through a best-in-class data management tool such as ZEMA allows businesses to reduce manual intervention through enhanced data accuracy and consistency. This leads to faster trade execution and risk assessment while improving risk mitigation and reporting capabilities, benefiting all counterparties involved in the trade cycle.”

“ZE is thrilled to be partnering with Fenics Market Data, the exclusive distributor of high value energy and commodities data for the BGC Group and its affiliates. The addition of Fenics Market Data provides ZE with important access to strategic energy and commodities data that will enhance our mutual clients’ understanding of the markets they participate in,” said Aiman El-Ramly, Chief Business Officer, ZE PowerGroup. “The ability to integrate and analyze a broad range of data within ZEMA provides our mutual clients with a powerful mechanism to advance their market positioning,” continues Mr. El-Ramly.

broadridge-launches-new-fill-matching-platform,-enabling-real-time-reconciliation-for-high-volume-trading

Broadridge Launches New Fill Matching Platform, Enabling Real-Time Reconciliation for High Volume Trading

October 17, 2023 Published by

 

Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of the NYFIX Fill Matching platform, a new solution complimenting Broadridge’s post-trade NYFIX Matching solution. NYFIX Fill Matching is a FIX based real-time reconciliation product designed for the needs of asset managers with high volume and/or high-touch orders. NYFIX Fill matching is the only platform that matches fills between brokers and asset managers in real-time.

“As the T+1 time compression makes end-of-day processing challenging, Broadridge’s new Fill Matching Solution will rapidly identify trade discrepancies, enabling clients to address and fix these issues before the close of the trading day,” said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. “By reducing this key friction point, Broadridge is continuing to streamline and modernize the front-to-middle office environment for our buy-side clients.”

The Fill Matching solution offers real-time reconciliation, ensuring that brokers and asset managers are constantly in sync, minimizing end-of-day mismatches. “Drop Copies”, or execution reports, are sent from the brokers’ front office platform and are matched against the fills received from the asset managers’ system. The matching criteria is flexible and can be configured by the asset manager to meet their respective requirements. The service informs the asset manager that all fills received from the brokers have been processed and that they can confidently allocate their trades and move into the post-trade matching process.

qatar-central-bank-issues-instructions-for-the-loan-based-crowdfunding-regulation

Qatar Central Bank issues instructions for the Loan-Based Crowdfunding Regulation

October 10, 2023 Published by

 

In line with the financial sector strategy and the financial technology (Fintech) strategy, and based on Qatar Central Bank’s permanent endeavor to regulate and develop the financial sector in the country, Qatar Central Bank issued instructions for the Loan-Based Crowdfunding Regulation, for the purpose of licensing and regulating (Loan-Based Crowdfunding activities and services in Qatar).

Qatar Central Bank Announces that all companies wishing to work in this field must apply to obtain the necessary license from QCB.

Loan-based crowdfunding platforms are considered innovative financial platforms that enable borrowers in need of financing to communicate with various investors and obtain short-term financing. Borrowers, such as SMEs, who find it difficult to access traditional bank loans, can obtain the financing necessary for growth of their business and overcome the challenges that they may face with the expansion of their projects. Loan-based crowdfunding platforms represent an important opportunity for investors to diversify their investments and participate in supporting SMEs.

Qatar Central Bank is keen to provide effective and valuable initiatives that help create an environment conducive to the growth of the financial technology sector in the country, as these platforms support the development of the financial sector and enhance the transparency, efficiency and ease of the borrowing process

Qatar Central Bank also stated that the instructions are available on QCB’s website.

edomx-selects-singapore-fintech-finbotsai-to-scale-faraja-bnpl-business-&-drive-financial-inclusion-with-high-accuracy-ai-powered-credit-decisioning

EDOMx Selects Singapore Fintech finbotsAI to Scale Faraja BNPL Business & Drive Financial Inclusion with High Accuracy AI-Powered Credit Decisioning

October 10, 2023 Published by

 

EDOMx, a Delaware entity with Kenyan operations with a vision to enhance impact-based and thoughtful consumer credit, announced signing an agreement with Singapore-headquartered B2B SaaS FinTech, finbotsAI, to enable credit risk management using AI.

Renowned for its Mobile Money Buy Now Pay Later (BNPL) service FARAJA, which is offered to M-PESA customers and businesses in partnership with Safaricom, EDOMx becomes a pioneering adopter of cutting-edge AI-based credit risk solutions a key pillar of its business.

With creditX, finbotsAI’s AI-powered credit modelling solution, EDOMx aims to utilize advanced machine learning and AI-based algorithms to develop high accuracy scorecards that are better at quantifying risk. Additionally, creditX empowers EDOMx to develop new or refreshed custom credit models on demand, instead of spending months building them or relying on generic market scorecards.

With these new capabilities, EDOMx will be able to lend to more customers with reduced risk, resulting in responsible lending growth while scaling financial inclusion efforts.

EDOMx selected finbotsAI after an extensive evaluation of the solution. This included a Proof-of-Concept where finbotsAI built custom scorecards on creditX using EDOMx’s historical data.

“Utilizing AI technology for credit scoring aligns perfectly with our mission to provide ethical and inclusive financial services to our customers. The partnership with finbotsAI empowers us to make more accurate lending decisions, which will ultimately benefit Kenya,” said Julian Kyula, Founder of EDOMx.

Samson Mutisya, Growth Director (Africa) of finbotsAI, emphasized the transformative potential of the partnership, saying, “We are proud to expand our fast-growing client base in Africa, with a marketing innovator like EDOMx. We have seen enormous success in enabling lenders to drive financial inclusion responsibly. This partnership underpins the growing demand in Africa for sophisticated technology solutions that enable economic growth and solve legacy challenges.”

This milestone also marks finbotsAI’s entry into Kenya. finbotsAI’s fast growing client base now stretches to 11 countries across APAC and MEA markets.

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