As part of UZCARD FORUM 2024, Uzbekistan’s leading payment operator UZCARD and a pioneer in the field of artificial intelligence for financial institutions zypl.ai concluded an agreement to create a joint venture (JV) under the name “1ziyo.ai.”
Zypl.ai is a fintech startup that specializes in using generative neural networks to automate financial services, such as credit skoring and microfinance. Founded in 2021 in Tajikistan, the company uses artificial intelligence solutions to improve data analytics models that help banks and microfinance organizations make decisions. Currently, Zypl.ai operates in 13 countries and provides services to 50 banks and microfinance organizations.
“1ziyo.ai” will be the first company in Uzbekistan to combine the experience and technologies of both sides to develop AI solutions that can revolutionize the processes of risk assessment, fraud detection, transaction monitoring and portfolio formation in the country’s financial institutions. AI solutions will be based on the use of diverse data sources to create synthetic data using a generative neural network from zypl.ai.
Zypl’s key competitive advantage lies in zGAN – a unique AI-based synthetic data generation technology that improves the predictive accuracy of machine learning models by creating optimal emissions*. zGAN increases model stability by stress testing various scenarios, including “black swan” conditions, which are traditionally excluded from AI model training.
Zypl is in the process of obtaining a patent for its zGAN product. The company also developed a new product Lucid – a generative AI platform that provides solutions for training classification models and identification of financial risks (improving credit scoring, detecting fraud, monitoring transactions, forecasting reimbursement).
Thus, the creation of a joint venture between UZCARD and zypl.ai will become an important step in the digital transformation of the financial sector of Uzbekistan, strengthening economic stability and creating conditions for further growth and development of both financial institutions and the entire financial ecosystem of the country, including payment systems and digital solutions.
*Emissions are data that are significantly different from the rest of the sampling and can represent rare but important phenomena.