4:37:04 PM PST - Wednesday, November 30th, 2022

Taktile raises $20M to help fintech companies test and deploy decision-making models  

By Editor - Tue Nov 22, 12:45 am

The logic behind many fintech companies’ automated decisions — decisions that determine whether a customer is approved for a credit line, for example — is hard-coded into their app’s backend. This means that if a head of credit, for example, wants to make a change to the lending criteria, they have to raise a ticket with the IT department. To make changing this type of automated logic a more self-service process, Maximilian Eber and Maik Taro Wehmeyer founded Taktile in 2020. The two met while studying at Harvard and were both a part of the leadership team at QuantCo, a company building AI-powered apps for enterprise customers. While there, they found that many automated decisions were poorly designed, hardly ever tested properly and required a lot of engineering capacity — ultimately leading to guesswork. “Based on our experience, we decided to build a platform — Taktile — to empower experts, such as a head of risk, to design, evaluate and deploy decision flows on their own without the need for developers,” Wehmeyer said in an email interview. “By using Taktile, fintechs can adjust their risk selection in a data-driven way and ensure they only underwrite the risks that match their strategy.” When asked about the size of Taktile’s customer base and financials, Wehmeyer declined to comment, citing competitive reasons. But investors apparently see growth potential.

Original post:

Taktile raises $20M to help fintech companies test and deploy decision-making models

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