Algosave
Accounting and Regulatory Requirement Solutions for Financial Institutions
Company Overview
Snapshot
Founded in July 2015 by David Botbol, Algosave operates with 1–10 employees. The company has raised $120K across one funding round from one investor. In February 2017, Algosave secured Seed funding.
Business overview
Algosave develops business software solutions focused on accounting and regulatory requirements for financial institutions. The company provides simulation-based, point-in-time, IFRS-9 lifetime-probability-weighted expected credit losses (ECL) to help banks and insurance companies manage their lending and investment portfolios and overcome credit risk modeling challenges. Algosave operates in the Fintech and eCommerce sector, leveraging artificial intelligence and big data to serve financial services, particularly banks and insurance companies, with a focus on compliance and risk management.
Strategic signal
In January 2019, Risk.net highlighted a significant 'tech gap' impacting credit risk quants, a challenge directly addressed by Algosave's solutions. This signals a market need for advanced technological tools in financial risk management, validating Algosave's focus on providing sophisticated, simulation-based credit loss calculations to help financial institutions navigate complex regulatory standards like IFRS-9.
Log in to access full profile ›Company Intelligence Q&A
- What is Algosave's primary focus?
- Algosave primarily focuses on providing accounting and regulatory requirement solutions for financial institutions, specifically addressing IFRS-9 lifetime-probability-weighted expected credit losses (ECL).
- When was Algosave founded?
- Algosave was founded in July 2015.
- Who is a founder of Algosave?
- David Botbol is a co-founder of Algosave.
- What was a key market insight for Algosave in early 2019?
- In January 2019, Risk.net reported on a 'tech gap' faced by credit risk quants, indicating a market demand for advanced technological solutions in credit risk management, which aligns with Algosave's offerings.
- What is Algosave's employee count?
- Algosave operates with 1–10 employees.