Finn.ai

bankingtechartificial intelligence/machine learning

FOUNDING YEAR: 2014
LOCATION: Canada
Last Update: 01/05/2020

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About

Finn.ai transforms banking from static, one-size-fits-all destination websites and mobile apps to an intelligent personal chatbot assistant. Mobile optimized out of the box, our white label enterprise-grade platform ensures your customers are empowered to connect with your business the same way they connect with their friends - by voice and text.

MEDICI Analysis

Finn.ai provide a white-label virtual banking assistant that uses artificial intelligence to helps banks and financial institutions for improvement of customer services and reduce call center volume and cost.

Focus

PRODUCTS & SERVICES

AI powered personal banking assistants for banking customers. It is a white label, virtual banking assitant, powered by AI which has deployed multichannel platforms to major financial institutions. Finn.ai helps banks reach customers through their existing mobile apps like Messenger, Slack, Amazon Alexa.

REVENUE MODEL

Finn.ai follows an initial POC model. When in production we function as a SaaS based revenue model.

MAIN CLIENTS

Banks and financial institutes

PRIMARY PROBLEM SOLVED

Finn.ai helps banks to connect to customers where they already are in messaging platforms, save on customer support cost by having customer support be augmented by AI for end-users. Finn.ai becomes a personalized wealth manager.

COMMENT

Finn.ai is an easy-to-implement domain-specific AI agent that leverages the latest in machine learning with a deep financial industry data set.

company provided insights

Traction

REVENUE

$500k - $999k

TRANSACTIONS COMMENT:

We are B2B - therefore, at this moment, no monetary transactions have occurred.

ACTIVE USERS:

100,000

TRACTION COMMENT:

Finn.ai is working on expanding the number of retail banking partners that they are working with.

People

BOARD MEMBERS AND ADVISORS

David Tedman

Ryan Holmes

Dave Johnson

Jon Cartwright

David J Klein

Darrell MacMullin

Meredith J Powell

Kalle Radage

Troy Wright

INVESTORS:

1843 Capital

BDC

Flying Fish

HIGHLINE

Pallasite Ventures

PKJ Ventures

Yaletown Partners

KEY EMPLOYEES:

Jake Tyler (CEO); Guru Atlu (CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$17 M

DATE OF LAST FUNDING

Oct 2018

TOTAL FUNDING COMMENT

The company will use the funds to support expansion across North America and Europe. (Oct. 2018)

SEED & PRIOR FUNDING

$3 M

SEED CLOSED ON

Oct 2016

SEED PRIOR FUNDING COMMENT

Total seed funding raised is $1.2 million as of October 2016

FUNDING SERIES

SERIES A  · $14 M  · Oct 2018

LISTED

NO

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Finn.ai

About

Finn.ai transforms banking from static, one-size-fits-all destination websites and mobile apps to an intelligent personal chatbot assistant. Mobile optimized out of the box, our white label enterprise-grade platform ensures your customers are empowered to connect with your business the same way they connect with their friends - by voice and text.

Focus

PRODUCTS & SERVICES

Finn.ai is a white-labelled virtual banking assistant, powered by artificial intelligence. We put a personal banker in every customer's pocket, helping them to manage their money wherever they are, whatever they need via a simple, natural conversation. Our secure, easy to integrate platform is used by leading financial institutions and banks to delight their digital savvy customers, improve loyalty and reduce call center and IVR volume and cost.

REVENUE MODEL

Finn.ai follows an initial POC model. When in production we function as a SaaS based revenue model.

TOP PROBLEM SOLVED

Finn.ai focuses on conversational AI, which incorporates natural language understanding and decision-making. With a singular focus on banking, Finn.ai can provide a more personalized experience for your customers by recognizing connections and patterns beyond what a human can comprehend - automatically facilitating customer questions in the moment. This will allow you to improve the customer experience, increase marketing ROI, cut costs through automation, and increase revenues.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

We know retail banking. Finn.ai domain and conversational design experts have developed a specific taxonomy for retail banking. We already know most of the questions your customers will ask. Get great results quickly. Finn.ai comes pre-trained with banking intents so you can enter the AI space quickly and immediately outpace your competition. Never fall behind. AI technology is continually evolving, so you'll need more than a firm handshake and a toolkit post-launch to keep up. Our team of data scientists, product developers, and our amazing customer success team will continue to support you throughout our partnership.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

White label

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

ATB Financial : Retail Banking Partner, first to incorporate money movement in Facebook messenger in North America

Traction

ANNUAL REVENUE:

$500k - $999k

TRANSACTIONS VALUE:

0.00

TRANSACTIONS COMMENT:

We are B2B - therefore, at this moment, no monetary transactions have occurred.

ACTIVE USERS/ACCOUNTS:

100,000 Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Increase the number of retail bank partners we work with. Each bank will already have an establish customer base.

CHANNEL STATUS

CHANNEL SECURE

NUMBER OF CLIENTS OR PAYING CUSTOMERS

6

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

Smart well rounded team with experts in Machine Learning, Data Scientists, Developers,Sales Professionals.

BOARD MEMBERS AND ADVISORS:

Jon Cartwright, Ryan Holmes, Dave Johnson, David J Klein, Darrell MacMullin, Meredith J Powell, Kalle Radage, David Tedman, Troy Wright

INVESTORS:

Adam Felesky

Area 31

David Tedman

Geoff Entress

HIGHLINE

Laurie Anthony Baggio

Marcus Daniels

Matt Mastracci

Plug and Play FinTech

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Oct 2016
USD3 M
Comment on Seed
Total seed funding raised is $1.2 million as of October 2016