Zilch, the world’s first ad-subsidised payments network (ASPN), has announced an extended collaboration with Amazon Web Services (AWS) to drive innovation in artificial intelligence (AI) and machine learning (ML) technologies. This partnership comes as AWS expands its AWS Partner Network (APN) to include Visa, simplifying access to cloud-native fintech solutions.
By leveraging AWS’ AI and ML services, Zilch aims to revolutionize customer experience and support merchants with cutting-edge technology. The use of Amazon SageMaker and Amazon Bedrock will allow Zilch to make data-driven decisions quickly and accurately, reducing development times and increasing model efficiency.
As an ASPN, Zilch offers flexible payment solutions by merging payments and advertising to eliminate consumer credit. With a buy now, pay later model gaining popularity, Zilch provides consumers with interest-free payment options over six weeks, tailored to individual affordability limits.
Zilch utilizes AI for affordability assessments, fraud detection, and consumer trend analysis, drawing insights from data collected from millions of customers. With AWS’ AI and ML services, Zilch can enhance its capabilities further and expand its services to reach more consumers in the UK and beyond.
Tricia Troth, Head of Startups, UK and Ireland at AWS, commends Zilch for embracing AI and generative AI technologies to drive consumer lending innovations. By continuing to leverage AWS services, Zilch aims to deliver precise lending decisions and extend its offerings to new markets and regions.
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