New UK fintech Covecta launches configurable AI platform
Covecta has debuted its configurable AI platform to streamline and support the “critical activities and workflows” of financial institutions’ front-line teams.
Covecta launches with £1 million in pre-seed funding
The UK-based start-up seeks to serve commercial banks, insurers, KYC teams, asset managers and brokers with a GenAI solution that can be tailored to specific product requirements and customer contexts.
The platform and configurator engine summarise information and automate customer insights instantly, enabling the creation of content such as fund reviews, credit memos and investment proposals under the guidance of a digital relationship manager.
The Covecta platform’s first release will be available in both the UK and the US.
The company’s founders Scott Wilson (CEO), Ben Thomas (CRO), and Abdul Hummaida (CTO), bring experience from Mambu, Mckinsey, and Orgvue, respectively.
According to the company’s launch announcement on LinkedIn, the platform launches with £1 million in pre-seed funding, raised from “industry veterans and Angels”.
To stay updated on the latest advancements in AI within the fintech sector, check out our top five AI stories from September.
