Nara Logics Announces Artificial Intelligence-Driven Solutions for Financial Services Companies

CAMBRIDGE, MA--(Marketwired - Mar 19, 2015) - Nara Logics, a neuroscience-based artificial intelligence (AI) company, today announced that its Platform-as-a-Service (PaaS) will provide a revolutionary solution for the high-end data analysis-to-inference needs of financial services companies. Starting this month, a major global bank will tap Nara's AI PaaS to improve the relevance of offers for consumers. The goals are to use Nara's platform to improve current offerings and provide new services that bring merchants and consumers closer together, saving both parties time and money.

"Nara Logics is one of the few companies applying brain-like computing to the big data problems facing large companies," said David Herrick, a financial services industry veteran with previous senior executive roles at both American Express and Barclaycard. "One of the biggest pain points for our industry is making logical sense of oceans of information. Using the Nara platform, companies can leverage relevant data across multiple lines of business, with the goal of making the customer experience simpler, cleaner and more personal."

Developed by a team of MIT neuroscientists, artists, astrophysicists and entrepreneurs, Nara Logics' novel AI technology works like the world's greatest data analysis and inference engine -- the human mind. The platform consumes data sets, provides resolution across the multiple sources, builds a knowledge graph of the connections between the data, and indexes that graph for real-time recommendations against the problem posed. A few examples of how the financial services industry would apply Nara's brain-based AI include:

• Creating personalized "stores" for credit card rewards points, recognizing the complexity of customers' preferences as individuals, not segments.
• Applying Nara's technology to support loan approvals based on detailed information of financial history and transactions at a level never before available.
• Analyzing transactions in real-time and giving a rating as to whether they could be fraudulent.
  
  

"Consumers are tired of getting blasted with offers that are not relevant to them," said Jana Eggers, president of Nara Logics. "We are proud with what we are seeing accomplished by applying neuroscience to AI for turning data analysis into action. Together with our customers, we are changing the idea of what can be accomplished in data science to save time and money in our lives and in business."

For more information about how Nara applies human brainpower to machine learning, visit www.naralogics.com.

About Nara Logics
Nara Logics is an artificial intelligence company focused on turning big data into smart data. Nara's team of MIT neuroscientists, entrepreneurs and artists have created a neuro-AI platform that combines brain research and technology to help companies better understand their data and know what actions can be taken based on that information. Companies interested in learning about how Nara Logics' technology can be put to work for their business should visit naralogics.com and follow @NaraLogics on Twitter. Everyone can see Nara's platform in action on Nara.me, where individuals can find restaurants, hotels and movies to fit their unique tastes.