Facio

Company Overview

Snapshot

Founded in July 2018 by Liav Geffen and Uriel Aharoni, Facio operates with 1–10 employees. The company is currently in the Pre-Funding stage, focusing on developing its core technology.

Business overview

Facio provides a cloud-based platform for smart contract management, specifically tailored for the financial services industry. Leveraging big data and artificial intelligence, its core technology enables autonomous negotiation, sales, execution, control, and documentation of legally relevant events and actions based on contract terms. The company aims to enhance accessibility to financial services and reduce transaction costs, arbitrations, enforcement costs, fraud losses, and exceptions for financial institutions.

Strategic signal

In February 2020, Facio announced a new self-learning algorithm designed to immunize against insurance disruptors. This development signals the company's commitment to leveraging advanced AI to enhance resilience and competitive advantage within the insurance sector, indicating a strategic focus on innovation to address market challenges.

Company Intelligence Q&A

What is Facio's primary focus?

Facio focuses on smart contract management for the financial services industry, utilizing big data and artificial intelligence to automate contract-related processes.

When was Facio founded and by whom?

Facio was founded in July 2018 by Liav Geffen and Uriel Aharoni.

What technology does Facio use in its platform?

Facio leverages big data and artificial intelligence technologies to power its cloud-based platform for contract management.

What was a significant product development for Facio?

In February 2020, Facio introduced a new self-learning algorithm aimed at protecting against insurance disruptors.

What are Facio's goals for the financial services industry?

Facio aims to make financial services universally accessible and to reduce transaction costs, arbitrations, enforcement costs, fraud losses, and malicious and accidental exceptions.