Credem invests in artificial intelligence. The group, one of the main Italian banking institutions, has completed an agreement for the investment in Noonum, a Seattle-based company active in the field of artificial intelligence, language analysis and digital learning systems aimed at supporting financial analysis and construction of portfolios.
This is the first agreement finalized by Credem as part of the corporate venture capital initiative launched last April, through which the group aims to invest in equity investments in companies with high development potential (startups and fintechs), with the 'goal of developing innovative technologies and models to strengthen the business and generate value for customers by improving the quality of products and services.
Noonum was selected by Franklin Templeton's incubator active in Silicon Valley and the transaction was finalized by Euromobiliare Asset Management, a group company active in asset management in cooperation with Credem's Innovation Unit.
The agreement contemplates the injection of liquidity to accelerate the development of the startup, as well as possible options for participation in future growth strategies.
There is also the possibility of building a strategic partnership that will allow Euromobiliare Asset Management's portfolio managers and analysts to work with the American team of Noonum and make use of their data analysis contribution, in particular to develop new thematic investment products.
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