Kings Entertainment & Braight AI Entering Underbanked LATAM Market with Proprietary Risk Scoring Solution: AI Risk Credit
- 70% of the LATAM's 400 million people are unbanked or underbanked
- AI Risk Credit helps financial institutions increase their customer base & acceptance rates
- Braight's technology provides 95% accuracy in predicting borrowers' financial behaviors
VANCOUVER, BC, Aug. 31, 2023 /CNW/ - Braight AI, a leading provider of Artificial Intelligence (AI) Big Data analytics solutions and wholly owned subsidiary of Kings Entertainment Group Inc. (CSE: JKPT) (OTCPK: KENGF) (FSE: L12) ("Kings Entertainment" or the "Company"), is in advanced talks with Latin American (LATAM) banks and expects to sign initial contracts in Q3 2023 for the integration of Braight's proprietary risk scoring service, AI Risk Credit. With 70% of the LATAM's population of 400 million being unbanked or underbanked, Braight's AI Risk Credit technology offers a timely solution that enables financial institutions to assess the creditworthiness of millions of people currently excluded from the consumer finance market.
"The timing couldn't be better for entering LATAM's extremely large market," said Braight CEO Maciej Jarząb. "Financial institutions have known for years that data is gold. But now they're beginning to see the game changing power of artificial intelligence, how it can increase their ability to secure more business while reducing their risk. With Braight's behavioral data analysis tools, they can make informed decisions on customers for any given credit-like product."
Braight's AI Risk Credit technology generates score and credit recommendations based on customers' online behavior, which increases the accuracy of current credit decision making processes. Testing has confirmed the AI Risk Credit algorithm provides 95% accuracy in predicting borrowers' financial behaviors. Financial institutions equipped with that level of predictive accuracy can increase their customer base and acceptance rates by accessing markets that were formerly unmeasurable or unseen.
While Braight is currently operating in Canada, Europe and the US, entering the LATAM market is part of an ambitious global expansion strategy for 2023-2024, which includes the goal of facilitating the inclusion of 150 million previously unbanked individuals to the banking sector by the end of 2024.
On Behalf of the Board of Directors,
Kings Entertainment Group Inc.
"Maciej Jarząb"
CEO of Braight AI
Braight AI, through Epeer, is a leading provider of Artificial Intelligence (AI) Big Data analytics solutions. Braight AI specializes in leveraging the power of AI to extract actionable insights from vast amounts of data, empowering businesses to make informed decisions. They offer two cutting-edge AI solutions tailored to address specific business needs: AI Risk and AI Marketing. To learn more, visit braight.tech.
Established in 2005, Kings Entertainment (CSE: JKPT) (OTCPK: KENGF) (FSE: L12) is an international online service provider for lottery, casino, and sportsbook gambling, and parent company of global online gaming innovators LottoKings and WinTrillions. These brands leverage their ability to acquire high-potential players through renowned lottery offerings, then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player sign-ups since their inceptions. To learn more, visit kingsentertainment.games.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
SOURCE Kings Entertainment Group Inc.
Please contact: Steve Budin, CEO, [email protected], [email protected]; For Canadian media enquiries or interviews, please contact: Christy Kaiser, Thirty Dash Communications, [email protected].
Share this article