Element AI signs HSBC, its third partnership announcement in four months

Jun 11 17:06 2019 Print This Article

Element AI is partnering with HSBC to help the bank develop the capability to analyze data that comes from clients of its Global Banking and Markets (GBM) division.

“Our partnership collaboration with Element AI represents the next step in our AI transformation at HSBC.”-Andre Cronje

The partnership comes as the third of Element AI’s customer deals that have been announced this year. Notably, all three have been in the financial services sector. In February, the Montreal-based company announced a partnership with the National Bank of Canada to improve cybersecurity for the bank. The startup also announced a collaboration with Gore Mutual Insurance in April, to integrate Element AI’s Underwriting Partner software with insurance company’s underwriting practice.

HSBC said the partnership will provide a base for joint development of AI-powered software and systems, which will be tested on HSBC’s global data pool. The Element AI team working on this partnership will be based in HSBC’s new Toronto-based innovation lab.

Read More

About Article Author

Betakit

BetaKit is a new publication dedicated to providing original, real-time reporting and analysis of emerging technology news and global innovation. Built by the team behind Sprouter.com, BetaKit draws upon an established community of over 80,000 emerging technology founders who are building the next big thing.

Related Items

Google to launch Canada, US accelerator focused on women founders

Google is set to launch a new accelerator program focused on women founders in Canada and the United States. The program, called The Google for Startups Accelerator: Women Founders, is set to launch over the next few months and is open to women-led technology startups. Applications for the program ...

ModiFace, Amazon partnership allows Canadian shoppers to try on cosmetics virtually

Toronto-based ModiFace’s artificial intelligence (AI)-powered technology, which allows customers to digitally test makeup products on themselves, is now available on Amazon in Canada. “Thanks to precise colour rendering, enabled by our unique AI-powered technology, shoppers can easily try on th ...

ArcTern Ventures brings on new managing partner and investment director as it eyes international markets

ArcTern Ventures has brought on Marc Faucher as managing partner, as well as Kristin Aamodt as investment director in ArcTern’s new office in Oslo. The new team additions come as the cleantech-focused venture capital firm is looking to expand its footprint in the United States and Europe. “We ...

Wind power in Ontario, June 2019: dancing with hydro

Last time I noted the operation of one particular Ontario gas-fired generating plant in relation with provincial electrical demand, total in-province generation, “market” price, and aggregate wind output. I showed that although through the month of June 2019 total generation exceeded Ontario de ...