EXCLUSIVE – Personal banking platform, Finn.ai, will launch in Central America by the first quarter for next year, Bank Innovation has learned.
“Although we cannot disclose the specific country where the product launch will happen, I can say that it will be happening either in this quarter or the next,” Jake Tyler, CEO of Finn.ai, told Bank Innovation.
Founded in 2014, the Vancouver-based Finn.ai can be described as Siri for digital banking, Tyler said. Finn.ai uses artificial technology to integrate daily banking applications in a messenger. Facebook messenger is one of the most requested messenger systems, Tyler said.
At the Money 20/20 conference in Las Vegas last week, the company announced that it raised $3 million in funding led by Vancouver-based venture capital Yaletown Partners, Seattle-based V.C. Flying Fish Partners, as well as its partnership with the Canadian bank ATB Financial.
“Partnerships have become crucial in the financial landscape today,” Tyler said. “ATB is an example that a partnership. In 2018, you’re going to see more bank-fintech (and bank-technology company) partnerships. As banks look to move faster and deploy innovation faster partnerships makes a lot of strategic sense.”
Finn.ai will be announcing additional banking clients as well as three new product launches in the next few months, Tyler said. He declined to disclose specifics.
Other markets that Finn.ai in which the company will soon debut include South America, Canada and Africa.
“Right now, we are focusing on Spanish-speaking nations,” he said, “but you will be seeing a lot of growth from us in other markets in 2018.”