iBind Systems, a FinTech startup based in Bangalore, India, announced a collaboration with Google Cloud to modernize the onboarding experience for banks and financial institutions.
By integrating iBind’s corporate banking Software-as-a-Service (SaaS) product with Google Cloud’s generative artificial intelligence technologies and infrastructure, the collaboration aims to streamline the onboarding process and enhance risk assessment for corporate banking, iBind said in a Tuesday (May 28) press release.
One of the objectives of the collaboration is to introduce the Entity Digital Locker within iBind’s Corporate Identity Platform, which includes various corporate onboarding solutions such as know your customer, anti-money laundering, entitlement management, credit assessment and digital signatures, according to the release. The secure data-sharing system simplifies access to financial services.
iBind’s AI-powered risk assessment platform is another focus of the collaboration. It generates risk profiles for corporations and acts as a virtual relationship manager for banks’ corporate customers, transforming personalized advertising with AI-powered assistance, the release said.
Using Google Cloud technologies, the partnership aims to develop specialized AI models tailored for financial analysis. These models will enable institutions to conduct analyses of financial disclosures, AML screening, and enhance risk and credit assessments with actionable insights from AI agents, per the release.
In addition, the collaboration positions iBind as a cloud partner for innovation, according to the release. By using Google Cloud’s graphics processing units for training and serving complex data models, iBind will continue to innovate and build its corporate banking infrastructure.
The co-founders of iBind Systems, Santu Maity and Sanat Bhat, said in the release that integrating their FinTech solutions with Google Cloud’s advanced AI capabilities sets a new standard in processing and using financial data. They said the collaboration will make financial operations faster, more accurate and more secure.
Subram Natrajan, director of customer engineering at Google Cloud India, said in the release that Google Cloud will work with iBind Systems to push the boundaries of what is possible in FinTech.
In another collaboration, Google Cloud said in April that it teamed up with Discover Financial Services to provide generative AI tools to Discover’s contact center agents.
Also in April, Google Cloud partnered with TD Bank Group to streamline the bank’s development and deployment of new applications that will enable “innovative banking experiences.”
For all PYMNTS AI and B2B coverage, subscribe to the daily AI and B2B Newsletters.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More