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Colendi AI introduces ColendiMind: Democratising access to AI in financial services

Targeting new markets, Colendi AI plans to open a Middle East and Africa regional office in early 2025, following its success in Istanbul

Colendi AI, a leading innovator in financial technology, has officially launched ColendiMind, a groundbreaking artificial intelligence (AI) platform designed to revolutionise the finance and banking sectors. Built on a combination of machine learning (ML) and large language models (LLM), ColendiMind provides banks and financial institutions with cutting-edge tools to enhance decision-making, customer experience, and loan performance, all while advancing the mission to democratise the access to AI in finance.

At a time when financial institutions are seeking smarter, more efficient solutions, ColendiMind steps in with a comprehensive suite of AI modules, including personalised credit scoring, fraud detection, customer segmentation, and automated customer service. These capabilities provide deeper insights, enabling institutions to optimise processes, reduce risk, and create customised financial services to their customers.

"As Colendi AI, our mission is to democratise access to AI in the finance and banking industry,” said Bülent Tekmen, co-founder and CEO of Colendi. "With ColendiMind, we’re equipping financial institutions with AI capabilities that empower them to make more informed decisions, streamline operations, and enhance customer interactions. We are proud to be at the forefront of this shift and excited to see the impact on the future of finance."

The backbone of ColendiMind’s capabilities lies in its use of advanced language models, such as Qwen.2 and Llama3.1, for high-speed data processing and in-depth analysis. This enables ColendiMind to process and interpret vast amounts of data in real time, improving loan performance and fraud detection. Its robust localisation features support multiple languages—including English, French, Arabic, and Turkish—making it an ideal solution for global financial institutions operating in diverse markets.

ColendiMind is built to integrate seamlessly with widely used cloud platforms like Google Cloud, AWS, and Azure, ensuring that it meets the high scalability and performance requirements of modern financial services. Adhering to SOC 2 (System and Organization Controls) security standards, ColendiMind ensures that institutions can trust the platform with sensitive data.

"Harnessing AI to improve loan performance is a game-changer for financial institutions," Tekmen continued. "ColendiMind allows banks and other financial service providers to leverage the power of AI in a secure, efficient, and scalable way."

As Colendi AI continues to expand, the company is targeting new markets. After its success in Istanbul, Colendi AI plans to open a Middle East and Africa regional office in early 2025. This move aligns with its goal of making AI-driven solutions accessible globally, particularly in emerging markets, by offering localised services.

Founded in 2018, Colendi has rapidly evolved into one of the world's fastest growing fintech companies, reaching over 18 million users across its multiple embedded partner platforms. With the launch of ColendiMind, Colendi now positions itself at the forefront of AI-driven fintech, continuing its mission to democratise access to finance.