- FEXD acknowledges the recent big data boom that has introduced tech-driven solutions in the current financial services space
- AI, through its many forms, has proven to be a viable technology to integrate into the financial service space, a development that FEXD recognizes and welcomes
- Through its focus on the benefits of AI, the company is pushing its adoption while also pushing the conversation forward
- It is doing so while also exploring ways it can further develop this technology to address unmet mobile money needs, both in developing and industrialized countries and markets
Fintech Ecosystem Development (NASDAQ: FEXD), a special purpose acquisition company (“SPAC”), is pushing the conversation around the use of artificial intelligence (“AI”) to power financial solutions, and for a good reason. As a company that understands the financial space, FEXD knows the potential that AI has to transform the space, and the value it brings in transforming an industry that has, for a long time, arguably lacked innovation.
FEXD acknowledges the recent big data boom that has disrupted banking. With big data, financial services organizations can offer more personalized services with a 360-degree view of the customer’s interaction with their brand. In addition, the morphing regulatory requirements have introduced tech-driven solutions geared toward addressing emerging challenges in the current financial systems. Competition has also forced many players to be innovative, challenging them to adopt tech to have the edge over their peers (https://ibn.fm/CBfuP).
AI, through its many forms, has proven to be a viable aspect of integrating into the financial service space, a development that FEXD recognizes and welcomes. With a growing range of applications, from simple chatbots to credit risk management tools, AI is finding its way to the core of financial solutions, and all stakeholders welcome it. So far, JPMorgan Chase, critical among other players in its space, has reported leveraging AI for fraud detection for its account holders. As a showcase of what AI is capable of, the bank has been able to implement a proprietary algorithm that detects fraud patterns, earning it high scores in both security and reliability (https://ibn.fm/35z4k).
This, along with other additional benefits, such as speeding up services, allowing financial institutions to make more informed risks, and creating avenues for better customer relationship management, point to the potential of AI in the financial space. By focusing on such, FEXD is pushing the AI conversation forward while exploring ways to develop this technology further to address unmet mobile money needs in developing and industrialized countries and markets. Through mergers and acquisitions with fintech pioneers, the company is establishing a global fintech ecosystem while advancing the development of proprietary technologies and applications designed to keep the company ahead of its peers. AI is a fundamental aspect of its innovations, and with this focus, the company is shedding light on its potential and value in the financial services space.
For more information, visit the company’s website at www.FintechEcoSys.com.
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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