This acquisition strengthens BOND.AI’s data and cloud capabilities as it expands its signature Empathy Engine® technology to more markets.

"In the world of finance today, everyone’s chasing artificial intelligence to ramp up their speed and efficiency,” said Uday Akkaraju [LinkedIn], CEO of BOND.AI. “But here’s the catch - most financial institutions need help devising strategies, setting up the right systems, while making AI affordable. BOND.AI is determined to make sure costs and knowledge won’t be stumbling blocks and are committed to dismantling those barriers and make AI work like a charm. Through our acquisition of Elastech, we’re rolling out a dedicated data team, to help banks ace the AI game, all at their own pace."

“A large portion of my career has been in financial services,” said Scott Llewelyn [LinkedIn], CEO of Elastech, Inc. “In speaking with Uday, there’s a need for this to grow and expand to other industries, and BOND.AI has exciting opportunities to take these enterprise ideas and use them for community businesses to support financial health.”

With the acquisition, Llewelyn will join BOND.AI to oversee its Professional Services division.