Paris based AI-powered algorithm provider DreamQuark has raised a $3.5m funding round led by CapHorn Invest and Plug & Play.
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DreamQuark beefs up financial services through artificial intelligence
So far, DreamQuark has attracted around 10 clients, including BNP Paribas and AG2R La Mondiale. And I’m sure each contract is worth a lot of money. But building models is just step one. Financial companies can then use DreamQuark’s API to assess all future data. For instance, how many times a year do you have to call your bank because you made a suspicious purchase with your card but it was actually you? The startup can detect those false positives much more accurately so that you don’t get locked out of your own bank account. And this isn’t a security compromise as DreamQuark also identifies fraud more accurately.
