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U.S. startup Flaist joins Dubai fintech startup program

Friday, December 04, 2020 — 13:18:22 (EST)

NEW YORK (PRWEB) DECEMBER 03, 2020--The fintech startup, Flaist, has been identified as one of the top fintech startups in the world with its selection into the global fintech accelerator program - Startupbootcamp Dubai.

The international program provides startups with the unique opportunity to collaborate with global industry leaders, expand their networks, fundraise and scale their businesses. The program is partnered with Visa, Dubai International Financial Centre (DIFC) and Mashreq Bank, which is the oldest privately owned bank in the United Arab Emirates.

The bootcamp was designed to connect early-stage tech founders with partners and investors. This year's list of startups includes companies from the USA, Singapore, UAE, UK, Hong Kong, Malaysia, and Jordan.

The founder and CEO of Flaist, Krish Gopalan, says Startupbootcamp Dubai gives his company Flaist a competitive advantage for scaling and fundraising.

“This program gives us the opportunity to learn from global industry experts in a highly collaborative setting and grow our network,” said Gopalan. “Our AI technology is getting more exposure in the Middle East, while also introducing us to new partners and investors.”

Flaist has developed the first AI conversational tool that brings empathy and linguistics to customer service. The AI bot, called EVA, can detect anger, frustration, and other human emotions over the phone and online. Most customers can’t detect that the communication is with an AI agent.

EVA can detect accents and dialects and respond with a voice that is familiar to the customer. This technology is extremely valuable in regions like the Middle East and Europe where understanding language and cultural differences between countries is integral to ensuring quality customer service connections.

Flaist’s technology is also democratizing the digital transformation process by bringing AI to smaller financial institutions, like credit unions and community banks.

Flaist also developed a new analytics tool that allows financial organizations to better understand the contexts of their customers’ intentions and sentiments. This is the first fintech platform that allows banks and financial groups to predict future customer behavior and adapt their responses to customers using analytics.

Subroto Som, Senior Executive Vice President and Group Head of Retail Banking Group at Mashreq Bank, says digital innovation is integral in the financial industry and Flaist is leading this area with its AI and analytics for the financial industry.

“The COVID-19 pandemic has demonstrated the importance of digital innovation in the financial services industry,” said Som. “From the UAE to Europe, Asia and the Americas, FinTech is playing a key role and continues to be constantly evolving as new technologies and regulations come to the forefront.”

Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive said the calibre of startups in this year’s program is outstanding.

“DIFC FinTech Hive and the wider DIFC community are ready to help them use the programme to advance their solutions and access the Middle East, Africa and South Asia region,” said Al Mazrouei. “DIFC is looking forward to leveraging our established partnership with Startupbootcamp to stimulate FinTech innovation and help start ups contribute to the future of finance.”

Startupbootcamp has previously worked with 950 other fintech startups and 72 percent of their graduates receive funding that averages € 944,000 Euros.

ABOUT Flaist

Flaist is on a mission to democratize the digital transformation journey of Banks and Financial Institutions, through technology. Flaist brings together technologists, bankers, data scientists and security experts who have built enterprise products for multiple startups, and large organizations like Citibank, Mastercard, HPE, ArcSight, and Oracle. Their services are plug and play meaning they can fast track the digital transformation efforts to provide customers with an amazing experience through their AI-based framework.

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Source: Company press release.