What Does the Fintech Startup Business Earnix Do?
It’s clear that the fintech business is big into what this Earnix does — but what is that, exactly?
In simplest terms, Earnix uses artificial intelligence, or AI, to allow financial institutions to target their offerings, fully personalized, to customers. The idea is to let the AI do the work of figuring out what company approaches work best for and are most enticing to the customer so that the financial institution can maximize engagement in their business offerings.
We’ve also seen the success of the AI fintech company coming. Earnix received the honor of being called the “Market Leader for Predictive Analytics for Property & Casualty Insurers” by market research firm CB Insights and one of the “11 Insurtechs to Watch in 2021” by P&C 360.
What the AI Fintech Company CEO Has to Say
“This is just another testament to both the power and differentiation of our existing product offering, with its unique and innovative capabilities, and the untapped potential in further driving the success of our clients globally,” he said. “This investment will accelerate the reach and impact of our world-class smarter business velocity solutions, coupled with the breadth, size and reach of our customers, assuring our ability to meet a broad range of industry needs, and to deliver the best personalized rates and products to every customer, every time.”
And if the $1 billion “unicorn” valuation wasn’t enough to convince you that this fintech startup company is onto something, consider this: the global fintech business will grow at a compounded annual rate of over 22% over the next four years and is anticipated to reach a final valuation of about $305 billion by 2025.
The numbers are clear, and so are the investors — Earnix is on its way to big things with its AI technology and business model.
“Customers across Insurance and Banking have a strong mandate to adopt new technologies and related processes so as to remain competitive,” said Jonathan Rosenbaum, Principal at Insight Partners, an Earnix investor. “Earnix is uniquely positioned to capture this demand to the benefit of their customers and the end consumers.”
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.