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Rimilia partners with Aston University to model financial payment behaviour using AI PDF Print E-mail
Friday, 01 December 2017
Rimilia, a developer of intelligent financial software, has partnered with Aston University to research artificial intelligence (AI) and big data trends in payment behaviours.

The project is under Aston University’s Knowledge Transfer Partnerships (KTP) scheme, a world-leading programme that connects businesses with academic sources.

Rimilia designs, develops and implements intelligent finance solutions that harness artificial intelligence and machine learning algorithms to automate accounts receivable processes including, cash allocation, credit management and bank reconciliation.

The new KTP project will uncover factors behind payment behaviour that will help businesses and financial professionals. As part of the programme, Dr. Ali Rezaei Yazdi, a KTP associate who gained his PhD in Artificial Intelligence from Aston University, has joined the Rimilia Research and Development team as data scientist.

Dr. Yazdi will lead the three-year project to analyse financial big data to investigate payment behaviors and trends using AI, machine learning and other mathematical and computational modelling tools. techniques used will include probability analysis, decision trees, neural networks, regression models and other classification models, and advanced data visualization tools. Dr. Yazdi said: “This cutting-edge project is an invaluable extension to Rimilia’s AI-based fintech products and experience. Rimilia’s data is rich, complex and ideal for this type of detailed analysis and modelling. My job is to extract valuable insight from data analysis to help financial teams make informed and fast decisions. I’m excited to be part of the Rimilia family and to work alongside the R&D team to uncover new opportunities in fintech and AI."

Jamie Cunningham, CTO, Rimilia said: “As a company that has in-house R&D and product development we are continuously looking for ways to push the envelope and to unveil opportunities to innovate – a dedicated project such as this, in partnership with an academic resource as prestigious as Aston University, will allow us to go steps further and to study and harness patterns, opportunities and explore new fintech technologies.”

Martin May, KTP Manager at Aston University said: “The Knowledge Transfer Partnership (KTP) with Rimilia is a great opportunity for Aston University’s Systems Analytics Research Institute to apply its latest research to real world data in a commercial context. This project demonstrates the power of KTP to address strategic business issues by embedding knowledge that supports growth."

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