Flamingo signs agreement for a paid trial with Australian marketplace lender DirectMoney

Cre8tek Limited is pleased to announce that high-tech, Artificial Intelligence company, Flamingo Customer Experience Inc. has signed an agreement for a paid trial with ASX listed Australian marketplace lender, DirectMoney Limited. This paid trial will be conducted over a six-month period, targeted to commence in Q2 (April-June) 2017. The Flamingo platform, constituting the Cognitive Virtual Sales Assistant, ‘Rosie’ and the Journey Assist™ platform, will be used by DirectMoney to trial guiding customers through an unsecured personal loan application. Dr. Catriona Wallace, Cre8tek’s Chief Executive Officer and Flamingo Founder commented: “We are thrilled to be working with another exciting technology company such as DirectMoney, who are passionate about utilising cutting edge […]


Robo-advice using algorithms are replacing financial planners

The next adviser who offers you a loan or investment opportunity might be a robot. And you could be really happy about that. You might trust them more than a human ­financial planner to deliver totally independent advice. Well, that’s your call. But robot advice is part of a new financial marketing system that could chug along without much human intervention and is aimed at giving you a sense of financial security. Robotic algorithms and computers can recommend home insurance, superannuation schemes, health insurance and property conveyancing — all without a human being within cooee. It’s done by selecting products based on the preferences of people in the same situation, […]


Fintech platform revenues set for massive rise: Juniper

Fintech platform revenues for unsecured consumer loans issued using machine learning technology are set to jump by a whopping 960% globally over the next six years, according to new research from Juniper. According to the latest report on the worldwide Fintech market from Juniper Research, revenues will rise to US$17 billion by 2021, with spending advancing rapidly due to the highly data-driven nature of the market, “meaning that AI integration is likely to spell substantial benefits”. Juniper says that until recently, machine learning was too expensive and computationally time-intensive to break into the mainstream, while access to extensive data sets for algorithm training were limited. Research author Steffen Sorrell says […]