HaiVE’s Product Launch at Singapore

On the 13th of May, 2023, a significant event took place at the Hilton Singapore Orchard. StartupTN Mission Director and CEO Mr Sivarajah, StartupTN AVPs Nikunj Panchal and Siva Kumar, along with the Founder of IppoPay Mr Mohan and Founder of Foloosi, UAE Mr Omar, came together to felicitate the product launch of HaiVE. This Singapore-based FinTech startup, with research and development offices in Chennai, Bangalore, and Sydney, is making waves in the realm of on-premise AI.   In the world of finance and securities, the use of external AI services can pose significant risks. Data privacy is a paramount concern, and the use of external AI services can potentially expose sensitive financial data to third parties. Moreover, reliance on external AI services can lead to a lack of control over critical business operations and decision-making processes. HaiVE, having raised $1 million in pre-seed capital from a group of investors including Mohan and Omar, offers a solution to these challenges. By providing on-premise AI services, HaiVE allows financial companies to maintain full control over their data and operations. This not only enhances data security but also ensures that all intellectual property (IP) generated as a result of using these AI services belongs to the company and not an external AI provider. The benefits of using on-premise AI services set up by HaiVE are manifold. First, it allows companies to maintain full control over their data, ensuring that sensitive financial information remains secure. Second, it enables companies to tailor their AI services to their specific needs, enhancing efficiency and effectiveness. Finally, it ensures that all IP generated as a result of using these AI services remains within the company, providing a competitive edge in the rapidly evolving FinTech landscape. The launch of HaiVE marks a significant milestone in the journey towards more secure, efficient, and effective use of AI in the financial sector. As we move forward, it is clear that on-premise AI services like those provided by HaiVE will play a crucial role in shaping the future of FinTech.

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