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.
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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.

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