- Arkansas-based fintech Bond.AI acquires US-based company Elastech.
- Bond.AI aims to enhance its cloud and data capabilities through the acquisition.
- Bond.AI plans to expand its Empathy Engine product into new markets.
- Empathy Engine utilizes proprietary algorithms to understand consumer behavior using diverse data sources.
- Elastech, founded in 2021 in Utah, offers technology-as-a-service for internal tech teams.
- Scott Llewelyn, Elastech’s CEO, will lead Bond.AI’s new professional services division.
- The division will provide concierge data services to banks.
- Uday Akkaraju, Bond.AI’s CEO, emphasizes the importance of making AI affordable for financial institutions.
- Bond.AI is committed to removing cost and knowledge barriers to AI adoption in the financial sector.
