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Cuentas announced a Letter of Intent (LOI) with Facio for AI and Big Data

Cuentas, Inc. (OTCQB: CUEN) is currently one of the most promising players in the mobile banking and digital payments market. Cuentas has announced that it has signed a Letter of Intent (LOI) with Facio Ltd, an Israel financial technology (FinTech) company that has developed innovative artificial intelligence and big data technologies to deliver digital banking services autonomously, without human intervention.

This cooperation will enable Cuentas users to purchase major brand digital content, products and services at a discounted price within an advanced and personalized mobile app experience which combines traditional banking services with new innovative services.

Cuentas will enable its users to pay using Facio’s innovative point of sale directly from its customer’s mobile phone using Facio’s Tap-to-pay NFC or QR technology. The Facio platform disrupts the operational structure of any financial institutions that dare to move forward with Facio’s state of the art data model solution to deliver financial services autonomously using artificial intelligence and big data technologies.

Cuentas will become the first digital partner to operate autonomously while maintaining its operational team and IT department with minimal personnel. This, of course, translates to savings in financial services and enhancement of personalized customer experience.

“We are extremely pleased to work together with Facio to develop new capabilities never seen in mobile payment and online banking applications,” said Arik Maimon, CEO and Founder of Cuentas. “The potential to combine our mobile wallet with Artificial Intelligence and Data mining should provide for better consumer experiences and more efficient operations,” added Maimon.

“Facio is designed to provide an end-to-end digital banking and payments service autonomously to assist financial institutions to significantly lower their costs compared with traditional banking systems. Facio will dramatically improve the Cuentas customer experience!” states Liav Geffen, Co-Founder, and CEO of Facio Ltd.

For more information about Facio Ltd. visit www.facio.io

 

Jung Min-seo

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