AIBankingBusiness

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

  • 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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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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