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US fintech Bond.AI snaps up Elastech to bolster cloud and data offerings | Fintech InShorts: Latest fintech news, analysis by experts

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US fintech Bond.AI snaps up Elastech to bolster cloud and data offerings

By Laura M

November 7, 2023

Arkansas-based fintech Bond.AI acquires US-based company Elastech.
Bond.AI aims to enhance its cloud and data capabilities through the acquisition.
Bond.AI plans to expand its Empathy Engine product into new markets.
Empathy Engine utilizes proprietary algorithms to understand consumer behavior using diverse data sources.
Elastech, founded in 2021 in Utah, offers technology-as-a-service for internal tech teams.
Scott Llewelyn, Elastech’s CEO, will lead Bond.AI’s new professional services division.
The division will provide concierge data services to banks.
Uday Akkaraju, Bond.AI’s CEO, emphasizes the importance of making AI affordable for financial institutions.
Bond.AI is committed to removing cost and knowledge barriers to AI adoption in the financial sector.

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