The technology leverages AI and machine learning

Italy intorduced AI-powered challenger bank. Source: pixabay.com

Two Italians, Roberto Nicastro and Federico Sforza created an app called Aidexa built to help small businesses thrive and survive the startup pressure.

So far, Aidexa has managed to raise over €45 million from Banca Sella, IFIS, the Generali Group, family offices, trade organizations, and financial angels.

The research says that Italy’s GDP is predominantly controlled by small businesses, which is the largest in Europe. However, the striking waves of the 2020 pandemic make them thirst for a more resounding effort in making digital tools and online experience a better reality.

Aidexa is currently authorized as a credit institution and is working to attaining a full-fledged banking license.

We’ve reported that some Chinese and Thai central banks are working with the Hong Kong Monetary Authority to introduce digital currency in the Southeast Asia region.

SEE ALSO:

• Best British neobanks for non-UK residents
• Cashless economy: pros & cons
• AI in the banking sector: real use cases