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UK fintech ieDigital snaps up AI tech provider Abaka
AIBankingBusiness
Less than 1 min.Read

UK fintech ieDigital snaps up AI tech provider Abaka

Laura M
By Laura M
  • ieDigital to acquire Abaka for an undisclosed sum
  • Abaka offers an AI-powered recommendation engine for personalized financial services
  • Utilizes machine learning and behavioral segmentation for predicting consumer product interests
  • ieDigital aims to become a global digital solutions provider for the financial industry
  • Current services include self-service banking, collection management, customer onboarding, and mortgage lending
  • Jerry Young, ieDigital CEO, emphasizes the growing importance of personalized financial services
  • The acquisition follows ieDigital’s recent purchase of US-based Connect FSS to boost the North American market presence
  • ieDigital plans to create a new group with its acquisitions, maintaining separate brand names and websites for now

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