Digital property exchange operator PEXA Group is aiming to strengthen its position as a provider of data analytics to financial institutions, with an investment in artificial intelligence start-up Elula.
PEXA has acquired a 25 per cent stake in Elula and entered into a strategic partnership to “enrich” its property data.
“Together with PEXA’s data and analytics capabilities, this investment enables a more holistic view of critical lending and refinance consumer behaviour, amplifying PEXA’s capabilities for financial institutions,” the company said in a statement.
Launched in 2017, Elula has two products: Sticky, which is AI software that predicts which home loan customers will refinance or sell their properties within the next three months; and Nudge, which predicts which financial institution customers are likely to acquire additional products and services from.