Stemly partners with ING, awarded Financial Sector Technology Innovation Proof-of-Concept Grant

Stemly partners with ING, awarded Financial Sector Technology Innovation Proof-of-Concept Grant

by Stemly
March 28, 2022

Stemly in collaboration with ING, were awarded the Proof-of-Concept (POC) grant which provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. The POC grant is part of the Financial Sector Technology and Innovation (FSTI) scheme under the Financial Sector Development Fund administered by Monetary Authority of Singapore (MAS).

Stemly will be tackling Cash Flow Planning (CFP) problems such as cash surplus and shortages, by adopting state-of-the-art machine learning tools in automated fashion to improve accuracy and timeliness of predictions. A unique approach that incorporates the use of automatic machine learning and optimization techniques to provide autonomous forecasting, collaborative cash flow planning and contextual embedded financial products will be used.

Erwin Maspolim, Country Manager Singapore at ING, said: “This partnership with Stemly focuses on building and adopting cutting edge technology that rethinks and advances the ways corporates handle their cash flow forecasting and management, which are often inefficient and inaccurate. ING sees the importance of data-driven solutions in the heavily digitalized world today, and we are thrilled to pioneer the development of such innovation together with Stemly.”

Sanjay Sanai, CEO and Co-Founder of Stemly, said: “With an increasing need for solutions that incorporate finance with supply/demand data, Stemly is excited to collaborate with ING and is committed to providing state-of-the-art technology that empowers treasury and finance teams with highly accurate financial predictions and insights to alleviate cash flow problems.”

About Stemly

Stemly provides a software-as-a-service (SaaS) decision intelligence platform that leverages artificial intelligence (AI) and machine learning (ML) to perform autonomous forecasts and optimization for supply chain and finance use cases. We specialise in supporting executives with on-time, data-driven decisions to deliver clear business outcomes by improving predictions and optimal allocation of resources.

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