Finbots are financial robots located in Singapore. Finbots.AI, a business that helps banks and financial institutions innovate, has secured $3 million in Series A financing from Accel Partners.
Finbots.AI plans to use the funds to speed up product development, marketing and sales, and customer service. With the new money raised, the business plans to add senior talent and grow its staff across its branches.
Sanjay Uppal (CEO) and Shripad Keni established Finbots.AI in 2017. (CTO). The company has seen the potential to employ AI-powered solutions to assist banks and financial institutions in overcoming industry difficulties from its beginnings. ZScore is a full-featured AI-powered credit scoring solution for lenders that covers the whole credit lifecycle. ZScore uses modern Machine Learning (ML) algorithms to automatically construct, evaluate, and deploy real-time, high-performing risk models, with an easy user interface and comprehensive scorecard authoring capabilities.
Financial institutions have improved visibility into potential borrowers’ credit capability because of ZScore, which leads to increased financial inclusion both directly and indirectly. Financial inclusion, according to the World Bank Group, is a critical facilitator for reducing severe poverty and increasing shared prosperity. According to the most recent Global Findex database, 1.7 billion adults throughout the world are unbanked, which means they do not have access to any fundamental financial goods or services.
