Serial fintech founder to address looming industry regulation and how AI can deliver more value to consumers and businesses
LAS VEGAS, Oct. 23, 2023 /PRNewswire/ — As the Credit Card Competition Act, a new wave of regulatory pressure on U.S. card issuers, makes its way toward a vote on Capitol Hill this week, fintech pioneer Mitch Jacobs of Plink AI will speak in Las Vegas to industry leaders on how to avoid negative impact from this pending legislation. Jacobs will speak at a Mastercard Start Path session hosted during the annual Money20/20 conference, the most influential gathering of the payments industry in the world. The Mastercard session includes an audience of major industry leaders from processors, banks, private equity, and venture capital including Fiserv, Global Payments ANZ Bank, a16z and Point72.
Jacobs will make the case that artificial intelligence is the solution to transform a fifty-year-old payment network that will benefit consumers, merchants, and the industry itself. He will demonstrate how artificial intelligence is an opportunity to add significant value to the network without disrupting the cards people and businesses already trust. Through the platform his company Plink AI has built, Jacobs will show how in real-time how artificial intelligence unlocks never-before-available data, predicts future spending and executes personalized actions without impacting the massive investment banks and businesses have made in their current transaction processing infrastructure.
“Artificial intelligence is a powerful new tool to aid the industry in its mission. AI provides new ways for banks to get cards top-of-wallet, businesses more profit and consumers increased purchasing power,” Jacobs said. “In my thirty years at the forefront of payments innovation, right now is, without a doubt, the payment industry’s most exciting time. With regulation looming, industry participants should harness the value of this new technology.”
Jacobs first two payment companies were sold to public companies and his last venture, OnDeck – one of the earliest fintech companies developed – grew from a small startup to a publicly traded company on the NYSE. Mitch is an Ernst & Young Entrepreneur of the Year and his companies have twice been named to the Inc. 500 and the Forbes list of most promising companies. He sits on the Board of the Association for Enterprise Opportunity, the trade organization of nonprofits supporting underserved US Small Businesses.
About Plink AIPlinks AI unlocks previously untouched data across the entire purchasing and payment cycle, placing banks top of wallet, helping businesses generate more profit and increasing consumer’s purchasing power. The Plink AI transaction processing layer standardizes banks’ payment data, generates insights, and executes actions that maximize commerce between businesses and consumers. For more information, visit www.www.plink.ai.
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SOURCE Plink AI
