Covecta has introduced its customizable AI platform designed to simplify and assist the essential operations and processes of front-line teams in financial institutions.
Covecta debuts with £1 million in pre-seed funding.
The startup, based in the UK, aims to cater to commercial banks, insurers, KYC teams, asset managers, and brokers with a tailored GenAI solution that meets specific product needs and customer contexts.
The platform and configurator engine condense information and automatically generate customer insights, allowing for the development of materials such as fund reviews, credit memos, and investment proposals under the guidance of a digital relationship manager.
The initial release of the Covecta platform will be accessible in both the UK and the US.
The company’s founders, Scott Wilson (CEO), Ben Thomas (CRO), and Abdul Hummaida (CTO), bring experience from Mambu, Mckinsey, and Orgvue, respectively.
As per the company’s launch announcement on LinkedIn, the platform is launched with £1 million in pre-seed funding, secured from “industry veterans and Angels”.
