Percipient said that the funds raised will be used to support the upcoming launch of the company’s “digital twin solution.”
The solution, called TWINNTM, has been developed to assist financial institutions with “rapidly creating a lightweight, enhanced and API-ready representation of enterprise data and processes.”
TWINNTM will leverage AI to offer digital financial services. The software can be integrated with a bank’s existing IT systems while offering significant performance improvements.
A bank based in the United Arab Emirates (UAE) will reportedly be the first to test out the TWINNTM software, which should be ready for a production environment by October 2020.