Fintech Ecosystem Development Corp. (NASDAQ: FEXD), a special purpose acquisition company (“SPAC”), is exploring the use of artificial intelligence (“AI”) to power financial solutions. “As a company that understands the financial sector, FEXD knows the potential that artificial intelligence (‘AI’) has and the value it brings in transforming an industry that has, for a long time, arguably lacked innovation,” a recent article reads. “With a growing range of applications, from simple chatbots to credit risk management tools, AI is finding its way to the core of financial solutions, and all stakeholders welcome it. So far, JPMorgan Chase, critical among other players in its space, has reported leveraging AI for fraud detection for its account holders. As a showcase of what AI is capable of, the bank has been able to implement a proprietary algorithm that detects fraud patterns, earning it high scores in both security and reliability. This, along with other additional benefits, such as speeding up services, allowing financial institutions to make more informed risks, and creating avenues for better customer relationship management, point to the potential of AI in the financial space. By focusing on such, FEXD is pushing the AI conversation forward while exploring ways to develop this technology further to address unmet mobile money needs in developing and industrialized countries and markets.”
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About Fintech Ecosystem Development Corp.
Fintech Ecosystem Development is a special purpose acquisition company formed for the purpose of effecting one or more business combinations with an intent to focus on the financial technology sector. The company is sponsored by Revofast LLC and the management team led by CEO, president and founder Dr. Saiful Khandaker and a group of experienced fintech business and technology innovators. For more information about the company, please visit www.FintechEcosys.com.
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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