AIO receives $1 million grant to expedite banks’ loans
Fintech companies are awarded grant from BIRD Foundation to co-develop digital customer onboarding solution to assist financial institutions in better leveraging technology
CTech | 15:24 14.02.2021
Israeli fintech company AIO partnered with financial giant Finastra and announced last Thursday that they had received a $1 million grant from the Board of Governors of the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation to co-develop a digital customer onboarding solution and expedite banks’ loans. The software was developed by AIO and is available on Finastra’s Fusion Fabric cloud platform and as an app, automating the process that helps loan applicants establish a valid financial identity that complies with existing regulations. AIO provides the next generation of digital financial identities, customer onboarding workflows, and automatic document verification, and is based in Tel Aviv. It partnered with Finastra, the third largest fintech company in the world, whose Israel branch boasts over 300 employees. The BIRD Foundation spearheads hundreds of projects which it funds to advance research and development across a variety of sectors, and awarded the company duo for creating a unique solution that leverages technology to assist financial institutions.