Financial technology, or FinTech, has been revolutionizing the way we interact with money and banking services. With the rise of digital banking and the increasing use of artificial intelligence, the industry is constantly evolving to meet the changing needs of consumers. One such development is the collaboration of three established FinTech companies – ieDigital, Connect FSS, and ABAKA – to bring AI-powered digital banking to the UK and US under the brand name Fintilect.
With a combined heritage of over 50 years, Fintilect aims to enable regional and global financial services institutions to deliver hyper-personalized, AI-driven digital banking experiences. As a portfolio company of Parabellum Investments, led by CEO Rami Cassis, Fintilect is poised to revolutionize the way banks engage with their customers. Grant Parry, founder of Connect FSS, has taken on the role of chief strategy officer, while Fahd Rachidy, founder of ABAKA, is now the director of AI global sales.
One of the key features of Fintilect is its ability to recognize and communicate with customers as unique individuals. By harnessing AI and machine learning, the platform studies a customer’s lifestyle, financial habits, and demographic data to provide personalized insights. This rich data set is then analyzed in real-time to predict the best course of action, as well as the most effective channel and communication style to achieve a successful outcome.
According to Cassis, today’s consumers expect to be understood on a personal level, with their specific life goals, ambitions, and aspirations taken into account. Fintilect’s hyper-personalized approach allows banks, building societies, credit unions, and other financial providers to engage with customers in a more meaningful way, leading to increased market share and customer satisfaction. By combining AI and digital functionality, Fintilect is paving the way for a new era of banking that prioritizes customer-centricity and innovation.
The collaboration of ieDigital, Connect FSS, and ABAKA under the Fintilect brand represents a significant milestone in the FinTech industry. With a focus on AI-powered digital banking and hyper-personalized customer experiences, Fintilect is set to disrupt the traditional banking model and drive innovation in the financial services sector. As technology continues to advance and consumer expectations evolve, companies like Fintilect are at the forefront of shaping the future of banking.