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Singapore banking solutions firm opens HK, Dubai offices

Singapore banking solutions firm opens HK, Dubai offices

Singapore-based artificial intelligence firm Taiger, whose clients include private banks, insurance companies and government agencies, has recently opened offices in Hong Kong and Dubai.

The firm said a specialised team will be on-site to provide sales and technical support, allowing it to form closer relationships with existing and new partners. 

Taiger also hopes to tap on demand from private banks. Sinuhe Arroyo, its founder and CEO, said banks in Hong Kong and Dubai can use its solutions to speed up the onboarding process, and improve customer service and productivity. 

'The wealth market is growing exponentially in both markets,' Arroyo told Citywire Asia

'With the growth comes increased complexity that will challenge private banks to be more efficient and accurate in their managing complex and repetitive processes, while being compliant and up to date with prevailing regulations,' he said. 

Spain's Banco Santander and America's BofA Securities are already among its clients.

Taiger's solutions use advanced semantic and human reasoning, machine learning and natural language processing. These allow accurate information extraction, virtual assistance and enterprise search functions, the firm said.

The expansion comes weeks after Taiger raised $25 million in a Series B funding round, led by PacificBridge Asset Management, a Korean and American joint venture, and Hong Kong-based MCM Investment Partners. 

Taiger said its valuation will reach $110 million with the investment. In the days ahead, it will dedicate more resources to engineering and R&D.

The firm also plans to expand to Japan and Korea, adding to its offices in Singapore, Hong Kong, Dubai, New York, Madrid and Mexico.