“We don’t think banks will go away as some do, but we think that they could have a role not just as money vaults, but as data vaults: a place where you can deposit data, which you trust,” [CEO and co-founder Hossein Rahnama] said in an interview. Indeed, some of the funding will be used to put into action some of the AI and machine learning patents the startup has amassed, with the building of a “data” marketplace for banks, fintechs, and other data providers to partner and build more services together.

https://techcrunch.com/2019/07/16/flybits-nabs-35m-to-build-consumer-recommendation-engines-for-the-financial-sector/