Language AI Company raises funding from AEF Greater Bay Area Fund to accelerate growth in RegTech and WealthTech | Press Release
Summary
The funds raised will accelerate Fanos business expansion across the Greater Bay Area and Southeast Asia.In todays growing and complex financial legislations, financial service institutions such as banks are looking into ways to ensure the ways their relationship managers (RM) interact with customers are compliant with regulatory requirements.When the RM take an order to execute a transaction, they must take their customer through an extensive process of product suitability assessment, risk assessment, and risk disclosure etc., before the transaction can take place. All these conversations are recorded by the bank, so that their risk and compliance departments can later run a sample check, and ensure that the sales processes were appropriate, the service quality was good, and that the customers\xc4\xf4 interests are protected. However, it is very labour intensive and costly for banks to arrange sufficient manpower to manually listen to these tapes and catch the rare bad apples.Fanos AI Voice Analytics System Callinter is an effective and efficient solution to this problem. As of today, Fano has launched language support for Cantonese, Mandarin, English, Thai, Bahasa, French, Arabic, and more to come.Thanks to Hong Kong Monetary Authority (HKMA)s promotion of RegTech since late 2020, we have seen substantial new adoptions of our tech in the financial industry over the past two years, said Dr. Together with the support from AEF on strategic advice and regional business network, we believe Fano is ready for expansion into the Greater Bay Area and Southeast Asia.Fano is a Hong Kong-based artificial intelligence company specialising in developing automatic speech recognition, speaker diarization, speaker verification, and natural language processing technologies for multilingual environments.