Fintech

AI helps financial institutions make better decisions and more money

Financial institutions need to embrace AI enthusiastically – not only to know their clients better but also to be competitive among their peers.

Artificial intelligence can be applied to so many industries, but where it might first start to make money is in the financial world.

Singapore-headquartered Advance.ai said on Monday that it has raised $80 million in Series C funding. The startup helps financial institutions make smarter decisions.

Temasek-backed Pavilion Capital and Chinese Gaorong Capital led the round along with GSR Ventures, Vision Capital and others.

Founded in 2015, Advance.ai uses data analysis to help institutions evaluate their clients. Proceeds will be used to add social media information into its data analysis methodology and to expand its business across the region's financial markets.

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