The AWS Global Fintech Accelerator is an initiative launched by Amazon Web Services (AWS) that supports fintech startups by providing them with the tools, resources, and mentorship needed to leverage artificial intelligence (AI) and machine learning (ML) technologies.
It is a six-week, equity-free, online program designed to empower AI-driven fintech startups globally. It focuses on regions including North America (NAMER), Europe, the Middle East, Africa (EMEA), and Latin America (LATAM).
Startups receive 1:1 business and technical mentorship, covering topics like funding, scaling, and go-to-market strategies, as well as AWS technical fundamentals, cloud, and AI/ML adoption.
Selected startups get up to $25,000 in AWS Activate credits, with the top 15 companies receiving an additional $75,000 for participating in a Demo Day.
AWS has also collaborated with NVIDIA, a leader in AI computing, and Vestbee, a platform for European startups and investors, to enhance the program’s offerings.
The accelerator aims to drive innovation in financial services by helping startups navigate the complexities of AI/ML integration, meet new customer demands, and enhance financial solutions.
Why does Web3 need ChainAware.ai?
Two key issues in the Web3 ecosystem are:
- There are massive user acquisition costs for the Web3 platforms, which means Web3 innovators have to spend too much on customer acquisition, which means the probability of them becoming cash-flow positive (sustainable) is too low…
- Too high fraud rates drive away Web3 newbies. They are getting frauded, rug-pulled, and scammed. Every newbie has to get his lessons. The issue is that many of the newbies will leave the Web3 sector, resulting in suboptimal Web3 growth.
But that’s nothing special. Web2 had the same issues – too high user acquisition costs and too high fraud rates. And Web2 fixed this via:
- AdTech, which sent the right visitors to the right websites and massively reduced user acquisition costs
- AI-based Transaction Monitoring systems (which became even a regulatory must for the payment providers) – this resulted in creating trust in the Web2 ecosystem
The same components are required for Web3, including AdTech and Transaction Monitoring. However, as technologies have evolved a lot, we need AI Agents for Web3 Marketing and AI Agents for Transaction Monitoring. That’s what ChainAware.ai does.
What is ChainAware.ai?
ChainAware.ai provides Web3 AI agents for businesses for:
- Web3 Marketing
- Transaction Monitoring
- Credit Scoring
Additionally, ChainAware.ai offers businesses Web3 User Analytics – for free.
Web3 Marketing Agents predict user behavior based on their blockchain history. This prediction is connected with the targeting system so that Web3 Dapps can target their users with personalized messages. This increases user conversion and retention.
This solution is revolutionary and first of a kind, adding real utility to any Web3 platform.
Web3 Transaction Monitoring Agents predict which users will be scammed or frauded in the future. Virtual Asset Service Provider regulations require Crypto AML and Transaction monitoring from any VASP. While there are many Crypto AML providers, there are no Transaction Monitoring providers. ChainAware.ai fills this gap with predictive AI technologies.
Web3 Credit Scoring Agents predict users’ credit scores based on their on-chain activity. While Credit Scoring is little used in the Web3 ecosystems because most borrowing systems are over-collateralized, Credit Scores will be used in the future for borrowing systems and as indicators of general financial ability.
Web3 User Analytics is free to use for businesses. Every Web3 business can analyze its user’s intentions and create optimal marketing strategies for their users.
ChainAware.ai and AWS Global Fintech Accelerator
ChainAware.ai joined the AWS Global Fintech Accelerator Program from November to December 2023. The accelerator’s hands-on experience greatly benefited ChainAware.ai and improved its network.
Most importantly, the AWS Global Fintech Accelerator empowered ChainAware.ai to review and adjust the strategic product roadmap. It made ChainAware.ai investment-ready and moved it to the next level in its search for strategic investors.
We received $25’000 in credits for the AWS infrastructure, free coaching, brainstorming, and advice. We adjusted our strategic roadmap and connected to our strategic investor. All this was equity-free—we only participated and learned in every session.
ChainAware.ai team is very thankful to the AWS Global Fintech Accelerator!
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