Financial giant cites increasing demand for AI-powered solutions from customers

California-based Cleareye.ai has signed a joint business relationship agreement with PwC to develop and provide unique products to the banking industry.

As part of the deal, PwC gains access to the Cleareye.ai platform and the range of products and solutions the company markets to its banking customers around the world.

The platform provides conversational AI assistants and products for fraud detection and monitoring, third-party risk assessment and monitoring, and trade finance sanctions screening in the US, Europe, and India.

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The Cleareye.ai platform combines consumer experience sensing, insights generated from data, and AI-powered automation.

"PwC's partnership with Cleareye.ai evolved at a rapid pace, fueled by an increasing demand for AI-powered solutions from our customers,” said Liviu Chirita, partner and joint business relationship lead at PwC. “With our partners, we have an agile and agnostic approach to building such solutions, characterized by our ambition to create an asset-based consulting experience that is expertise-driven and technology-enabled.”

The initial focus of the venture will be on regulatory compliance.

“In regulatory compliance, we focus on increasing risk coverage and productivity while decreasing the cost of compliance," Chirita said.

"This collaboration is uniquely positioned to help our financial services clients tap into the consulting and subject matter expertise of PwC and technology depth and problem-solving abilities of Cleareye.ai,” added Mariya George, Cleareye.ai's president and co-founder.

In May, Cleareye.ai acquired India-based startup Aiware.ai, which specializes in conversational tech, credit risk analytics and AI consulting, to further its efforts to sell artificial intelligence to banks.