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Faraday COO joins the Fintech Panel on Practical AI Use Cases at the 2018 Symitar Educational Conference

Perry McDermott on

The Symitar Educational Conference

Symitar, a division of Jack Henry & Associates, is the recognized leader in core data processing and ancillary technology solutions for U.S. credit unions.

The annual Symitar Educational Conference (SEC) showcases industry-leading technologies through educational classes, roundtables, and tech leader panel sessions.

The Fintech Panel on Practical AI Use Cases

The Fintech Panel on Practical AI Use Cases aims to cut through all the hype about AI by exploring real-world applications of AI and how they're benefiting credit unions. Here are a few discussion points that will be covered by the panelists:

  • What is AI (beyond the textbook definition)?
  • What problems is it solving for credit unions?
  • What are the requirements for AI to work well?
  • Where is AI heading?

The panel will take place at 9:45 AM on August 30th, 2018.

The panelists

We're excited to announce that Faraday COO, Rob Trail, will join the panel to share his insights on how credit unions are leveraging big data and AI to optimize target outcomes across their member lifecycles.

Rob will be joined by Clinc VP, Himi Khan, and Infosys Senior Director of Client Services, Ponsi Sundaram. If AI is on your radar, you won't want to miss this panel.

Get the case study below to see how Mid Hudson Valley Federal Credit Union uses AI to acquire new members and personalize member experiences.


mhvfcu_case_study_promo


PRESS RELEASE — New funding and new talent at Faraday

Perry McDermott on

BURLINGTON, Vt., May 2, 2018 /PRNewswire/ -- Artificial Intelligence (AI) platform provider Faraday secured more than $2 million in new funding, and added top talent to its team of leading data scientists and business software experts. The latest round of funding, from new and existing investors, supports the company's unique approach to AI, which is cost effective, easily implemented, automated, and delivers meaningful results that drive revenue for B2C companies.

Faraday enables consumer brands to leverage big data and apply automated, predictive modeling at every step of the customer lifecycle to gain instant, accurate insights into each phase of the process. Faraday's B2C clients are then able to better identify and understand their prospects and customers, and optimize marketing campaigns efficiently and effectively.

Investors in this round of financing include Intercap, FreshTracks Capital, and independent investor John Replogle, former president and CEO of consumer products industry leaders Seventh Generation and Burt's Bees. Faraday was recently recognized as the best-funded tech startup in Vermont by CB Insights in January 2018.

"If my decades leading consumer brands have taught me anything, it's that knowledge is everything," said Replogle. "I invested in Faraday because they make data and AI work immediately for B2C in a way I've never seen before. They're the future."

"AI is often too complicated and expensive for companies to implement effectively," said Jason Chapnik, chairman and CEO of Intercap, Inc. "Faraday has nailed it with a highly automated and practical AI platform that any consumer-focused company can quickly implement with incredible results."

The company has hired two industry-leading experts: Rob Trail, Senior Vice President of Sales and Customer Success; and data scientist Dr. Sean Kelly.

Trail previously served as General Manager of CRM at Boston-based Bullhorn, where he helped grow the company from 14 employees to more than 700, and built and scaled SaaS platforms for B2B companies and customer-facing teams.

Dr. Kelly previously served as a forward deployed engineer at Palantir Technologies, the leader in mission-focused data analytics. At Faraday, Dr. Kelly is working with data scientist Dr. Narine Hall to further enhance Faraday's AI platform.

"I'm thrilled Rob and Sean have joined Faraday, along with our other 8 new hires over the past year," said Andy Rossmeissl, CEO of Faraday. "AI is hard but increasingly mandatory for consumer brands—and we make it easy. Our ability to scale helps our clients grow even faster."

Faraday start-up client Burrow, a modern direct-to-consumer furniture company, attests to the effectiveness and cost efficiency of Faraday's AI solution, stating AI coordinates 1 in 3 of its sales.

"Faraday showed us that AI is the future," said Kabeer Chopra, Burrow's co-founder and chief product officer. "Now we use their platform to understand critical behavioral factors we would have missed before. We've learned that details like pet ownership, hobbies, housing characteristics, and life events play a huge role in the furniture buying process."

About Faraday
Faraday is an Artificial Intelligence (AI) platform for business-to-consumer companies. Faraday uses advanced machine learning techniques to optimize revenue outcomes, from acquisition to lead conversion and retention. Faraday's turnkey AI solution includes all of the consumer data, integrations, algorithms, visualizations, and reporting necessary to roll out a powerful AI strategy in weeks, with no in-house data science team required. With over 73 billion data points on U.S. individuals, Faraday identified and reached over 90 million high-potential, high-value individuals for client campaigns in 2017 alone. For more information, please visit www.faraday.io



PRESS RELEASE – Furniture leader Burrow powers growth with AI

Perry McDermott on

BURLINGTON, Vt., April 11, 2018 /PRNewswire/ -- Burrow has redefined the furniture industry's customer experience by combining style, sustainability, affordability, and convenience for today's shopper. Now, the 2-year-old startup is using the Faraday artificial intelligence (AI) platform to grow even faster, quickly gaining insight on who and where their customers are, as well as when—and why—they are likely to buy.

New York-based Burrow addresses traditional consumer frustrations with furniture shopping—delivery delays, quality issues, awkward dimensions—with a streamlined supply chain and cleverly designed modular products that can be customized to fit any space. As a fast-growing company, Burrow uses AI to reach its unique customer market in the most effective, creative, and efficient ways possible.

"At Burrow, we want our marketing to be as smart and simple as our furniture," said Kabeer Chopra, Burrow's co-founder and chief product officer. "Faraday showed us that AI is the future. Now we use their platform to understand critical behavioral factors we would have missed before. We've learned that details like pet ownership, hobbies, housing characteristics, and life events play a huge role in the furniture buying process. Now we're using terabytes of data to guide everything we do. Thanks to Faraday, 1 in 3 of our sales is coordinated using AI."

Since Burrow implemented the Faraday platform in August 2017, AI has become part of nearly every aspect of the company's growth, including:

  • lead scoring that customizes outreach based on propensity to convert
  • nationwide predictive targeting to identify promising customer segments
  • analysis linking specific product features with life stage and geography
  • quantifying the positive impact of the company's showroom strategy guiding a brick-and-mortar expansion toward auspicious locations.

"Faraday makes AI work for consumer brands without the rampant cost and complexity they anticipate," said Andy Rossmeissl, Faraday's CEO. "When you can start delivering results with AI in a couple months—our clients tell us it feels like magic. It's really just science. We are honored to help Burrow grow."

About Faraday Faraday is an Artificial Intelligence (AI) platform for business-to-consumer companies. Faraday uses advanced machine learning techniques to optimize revenue outcomes, from acquisition to lead conversion and retention. Faraday's turnkey solution includes all of the consumer data, integrations, algorithms, visualizations, and reporting necessary to roll out a powerful AI strategy in weeks, with no in-house data science team required. With nearly 100 billion data points on U.S. individuals, Faraday identified and reached over 90 million of the best candidates for client campaigns in 2017 alone. For more information, please visit www.faraday.io.