UZCARD and zypl.ai are creating a joint venture to implement AI technologies in the financial sector

As part of UZCARD FORUM 2024, one of Uzbekistan’s leading payment operators, UZCARD, and zypl.ai, a pioneer in artificial intelligence for financial institutions, have signed an agreement to establish a joint venture named 1ziyo.ai.

zypl.ai was founded at Stanford University with the mission to be the first to launch financial risk modeling based on an enhanced version of generative adversarial networks. With a team of 50 people, primarily ML engineers, zypl has scaled its AI SaaS solution for financial institutions across more than 13 markets, from the UAE and Saudi Arabia to Kazakhstan and Uzbekistan. The company is currently headquartered in the Dubai International Financial Centre, UAE.

1ziyo.ai will become one of the first companies in Uzbekistan to combine the expertise and technologies of both parties to develop AI solutions capable of revolutionizing risk assessment, fraud detection, transaction monitoring, and portfolio management processes within the country’s financial institutions. The AI solutions will be based on leveraging diverse data sources to generate synthetic data using zypl.ai’s generative neural network.

Zypl’s key competitive advantage lies in zGAN — a unique AI-based technology for generating synthetic data that improves the predictive accuracy of machine learning models by creating an optimal number of outliers. zGAN enhances model robustness by stress-testing various scenarios, including “black swan” conditions, which are traditionally excluded from AI model training.

The establishment of the joint venture between UZCARD and zypl.ai will be a significant step in the digital transformation of Uzbekistan’s financial sector, strengthening economic stability and creating conditions for further growth and development of both financial institutions and the entire national financial ecosystem, including payment systems and digital solutions.

Source: spot.uz