BOND.AI launches the BOND network to create a
LITTLE ROCK, Arkansas, June 16, 2022 (GLOBE NEWSWIRE) — BOND.AI, a leading human-centered artificial intelligence (AI) company, today announces the creation of The BOND Network, a unique network of financial institutions and employers for truly interconnected finance.
The network gives partners – like banks, credit unions, large corporations and small businesses – access to modern financial health products through an open banking platform. They can obtain insights to improve the performance and efficiency of their organizations and the financial health of their clients in a convenient package without investing significant resources.
BOND Network Partners will have exclusive access to BOND.AI’s advanced Empathy Engine® and a curated set of products from selected fintechs. The solution will enable financial institutions to hyper-personalize banking services, win new consumers through employers at significantly lower acquisition costs, and increase profitability with the potential to achieve at least one per cent of the size of their assets in increased income and savings. For employers, it allows them to integrate AI-powered banking services and measure the financial health of their employees to increase productivity, engagement and retention.
A major step in integrated finance
The economy is facing massive disruptions in two particular areas: the financial and labor markets. Financial uncertainty, coupled with access to digital tools, has pushed consumers to switch institutions with the click of a button. This puts financial institutions under extreme pressure to produce technological advances faster than ever to meet consumer expectations.
Likewise, small businesses are under pressure to offer premium benefits to employees who are no longer bound by geography and loyalty when seeking employment. Job seekers are also turning to employers who offer them more than the normal salary and traditional benefits to help them cope with rising inflation and rising rent or mortgage prices.
The BOND Network’s goal is to provide the API-focused collective of financial institutions and employers with an integrated banking platform to access tools, products and services not necessarily available in the mainstream. today’s technological and heart-centric environment. The network brings together the concepts of open and integrated banking services in the global marketplace by reducing the time, effort and investment partners would have spent negotiating with multiple vendors for individual services. Partners of The BOND Network can improve both the financial performance of their organizations and the financial health of their employees.
“There is nothing like The BOND Network on the market today that combines the utility of modern financial technology with the life-changing financial health advantage,” said Uday Akkaraju, CEO of BOND.AI. “Our Empathy Engine® and The BOND Network will connect the dots between financial institutions and employers to put them back at the heart of people’s financial lives and spark a mutually thriving relationship between them. It’s the next revolution in integrated finance .”
The BOND network is launched with 16 founding member financial institutions and employers. BOND.AI estimates to have at least 50 partners by the end of 2022. Each member of the network will also secure access to data from the Empathy Engine® – to enrich financial health and inclusion at scale – and from other regulatory guidance and support for initiatives, such as the Community Reinvestment Act (CRA). This means partners won’t have to go through custom regulatory processes or invest in research and development. They can simply focus on the impact on the financial lives of their fellow citizens. Visit www.bond.ai to learn more about how to join the network.
BOND.AI is an award-winning AI company powered by the world’s first Empathy Engine®. Its proprietary algorithms holistically understand consumer behaviors through a combination of financial and non-financial data to dramatically improve the organization’s revenue while increasing the economic well-being and revenue of its consumers. For more details, visit BOND.AI.
Image 1: BOND.AI
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