UAE investing in Israel

September 18, 2020 by J-Wire Newsdesk
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United Arab Emirates-based Mohammed Al Beloushi, CEO of Barker and Booth Commercial Agency LLC announced a strategic investment in Israeli startup Fintica AI LLC.

Mohammed Al Beloushi,

The move will see the launch a partnership with the intention of developing Fintica’s capabilities, resources, and market share in the region bringing with it, new technology for the financial sector.

Fintica is the fintech spinoff of Israel’s leading Artificial Intelligence (AI) company, Cortica, and has developed disruptive autonomous AI technology for the financial markets. The company’s technology is based on advanced self-learning methodologies coupled with proprietary time-series data science analysis, which enables a new breed of intelligent, holistic and timely market regime analyses. With its modular approach to market regime classification, anomaly detection, and risk management, Fintica’s AI x-rays the markets in real-time, to provide asset managers with a unique understanding of the vast amounts of data. This provides a qualitative edge for efficient and well-informed decision making.

Commenting on the historic collaboration, Mohammed Al Beloushi, CEO of Barker and Booth Commercial Agency LLC said: “It is our duty to support of the visionary leadership of the United Arab Emirates whose underlying desire is to advance global peace with sincerity and persistence. In the words of our respected Foreign Minister Sheikh Abdullah bin Zayed al Nahyan, “Peace requires courage and shaping the future requires knowledge”. He added, “Acknowledging that this historic achievement will better the lives of our youth, and our youth are our future, we support initiatives which encourage and invest in the promotion and exchange of skills, knowledge and expertise, and this will have a positive impact in the region. We are ready to play our part in this new era.”

Philippe Metoudi, CEO of Fintica AI, noted the significant potential for growth in the sector. “Fintica is delighted and honoured to embark on this historic partnership with our UAE counterparts, and together to work on expanding our impact in the investment market.” He stressed, “Our two nations have begun a new era of cooperation, yet the world’s markets remain volatile and turbulent. The ability to achieve a deeper understanding of changing market structures and conditions is crucial, and our agreement will help Fintica offer our unique solutions and technologies to investors around the Gulf.”

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