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ieDigital acquires ABAKA, unleashes AI-powered fintech for US credit unions.

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TLDR:

  • ieDigital has acquired ABAKA as part of its strategy to provide AI-powered Fintech to credit unions in the US.
  • ABAKA is a recommendation engine that uses machine learning and behavioral software to predict which products are most likely to be bought by financial services consumers.
  • The goal is to provide personalized services by analyzing data to accurately predict customer needs and demands.
  • The acquisition of ABAKA follows ieDigital’s previous acquisition of Connect FSS, a US-based digital banking technology provider.
  • ieDigital, ABAKA, and Connect FSS will operate as three different brands but will be led by CEO Jerry Young.

London-based fintech company ieDigital has acquired ABAKA, a recommendation engine that uses artificial intelligence (AI) and machine learning (ML) technology, to provide AI-powered Fintech to credit unions in the US. ABAKA’s technology predicts which products, such as banking products and savings accounts, are most likely to be purchased by financial services consumers, allowing financial institutions to offer “ultra-personalized services” by accurately predicting customer needs and demands. The acquisition of ABAKA follows ieDigital’s previous acquisition of Connect FSS, a US-based digital banking technology provider. Despite the acquisitions, ieDigital, ABAKA, and Connect FSS will operate as three separate brands, led by CEO Jerry Young.

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