Kings Entertainment recently acquired Braight AI, signalling a novel approach to the financial landscape. Braight AI, renowned for its cutting-edge technology, employs artificial intelligence and online behavior data to revolutionize financial assessments and empower informed decision-making.
The Power of Behavioral Scoring
CEO Maciej Jarzab enthusiastically shared, “In 2018, I envisioned Braight AI: a vanguard in Big Data analytics.” He underscored the company’s unique methodology, focusing on deciphering online behaviors as a window into consumer sentiments and behaviors. Braight AI introduced the radical concept of behavioral scoring, revolutionizing creditworthiness assessments globally.
The company boasts a sophisticated artificial intelligence algorithm that predicts borrowers’ financial behaviors with a staggering 95% accuracy. Jarzab proudly stated, “That level of predictive accuracy enables financial institutions to access markets that were formerly unmeasurable and unseen.“
Milestones and Vision for the Future
In just a few short years, Braight AI has made significant strides:
- 2018: Launched behavioral scoring at the Startup Boot Camp in Dubai and earned recognition as a top-tier finance-shaping technology.
- 2019: Introduced the proprietary Epeer lending platform, facilitating over 10,000 loans.
- 2022: Expanded operations into Central and Eastern Europe and secured the prestigious How To Web award.
- 2023: Integrated into Kings Entertainment and enhanced its presence in Canada and Europe.
Eyeing the future, Braight AI’s ambitious expansion includes:
- Welcoming 150 million previously unbanked individuals into the banking fold by 2024.
- Aiming to reduce default rates by 20%, translating to annual savings of 50 million EUR.
- Projected revenue growth of over 100 million EUR by 2027.
- Geographical expansion into Mexico, Colombia, Spain, the US, Brazil, and Africa.
- Diversifying into the insurance and retail sectors by 2024.
CEO Jarzab expressed his gratitude towards the Braight AI team for their unwavering commitment and concluded with a vision of hope and progress for 2024 and beyond.
Implications for the iGaming Industry
- Diversified Decision Making: With AI’s ability to predict financial behaviors, iGaming platforms can use these insights to optimize payment solutions and player retention strategies.
- Broadened Customer Base: As financial inclusion becomes a priority, iGaming platforms can potentially cater to a wider audience, including previously unbanked individuals.
- Innovative Collaborations: The synergy between AI and online behavior data analysis might drive strategic partnerships between tech providers and iGaming platforms, setting the stage for tailored user experiences.
