AIBankingBusiness

New UK fintech Covecta launches configurable AI platform

  • Covecta has launched a configurable AI platform designed to streamline critical activities for financial institutions’ front-line teams.
  • The platform serves commercial banks, insurers, KYC teams, asset managers, and brokers, offering tailored solutions based on specific product requirements and customer contexts.
  • It automates and summarizes customer insights, enabling the creation of content like fund reviews, credit memos, and investment proposals.
  • The first release of the platform will be available in both the UK and the US.
  • Covecta raised £1 million in pre-seed funding from industry veterans and angels.
  • The company’s founders include Scott Wilson (CEO), Ben Thomas (CRO), and Abdul Hummaida (CTO), with experience from Mambu, McKinsey, and Orgvue.
Previous article
VaticAI appoints Mitch Eggers as new COO and chief scientist
Next article
Indonesia’s Krom Bank taps AWS Cloud for digital banking upgrade
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

US Launches Cybersecurity Sharing Channel for Crypto Firms

New initiative aims to enhance security in the cryptocurrency sector. Highlights: US government launches a new cybersecurity sharing channel...
FinTech

PayPal Expands Payment Links to Canva Creators

Canva users can now easily monetize their designs with PayPal's new feature. Highlights: PayPal's payment links feature is now...
FinTech

Perpetuals Strengthens AI with Quantum Resilience as a Service

The new offering promises enhanced stability and security for fintech operations. Highlights: Perpetuals launches unique Quantum Resilience as a...
FinTech

Revolut Introduces AI Assistant for Money Management

New feature aims to enhance personal finance management for users. Highlights: Revolut launches an AI assistant for better money...