PEXA to acquire up to 25% of AI software leader Elula PEXA Group Limited (PEXA), has confirmed that its data and analytics business, PEXA Insights, is making its second strategic investment to acquire an interest of up to 25% in Elula – an Australian artificial intelligence (AI) technology company. As part of this initiative, PEXA is also entering into a strategic partnership agreement with Elula. Elula enables businesses to make smarter decisions through the intelligent use of data. Together with PEXA’s data and analytics capabilities, this investment enables a more holistic view of critical lending and refinance consumer behaviour, further amplifying PEXA’s capabilities for financial institutions. Founded in 2017, Elula has developed proprietary technology drawing on AI and machine learning that specialises in customer retention and customer acquisition. Elula has experienced compelling growth with strong early customer adoption of Elula’s
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signature products, providing financial institutions a positive impact on customer engagement and satisfaction through: • Sticky: AI-based software that predicts which home loan customers will refinance or sell their property within the next three months; and • Nudge: predicts which financial institution customers are most likely to acquire additional products and services from.
