Using technology from IBM, Giagamatic leverages Blockchain and Artificial Intelligence to help people self-manage administrative tasks such as banking, health insurance, and taxes.
For example: using machine learning, the Toronto fintech startup recommends financial and health insurance specially tailored for each user.
“This allows for a more competitive environment of rates from service providers, and also offers new products from fintech and insurtech companies that offer unbundled products for lending and insurance,” the Canadian company says.
Gigamatic was recently accepted into MIT’s CSAIL startup alliance, where it will be working with bright minds in the Computer Science and Artificial Intelligence Laboratory in Cambridge, Massachusetts.
“I’m still beside myself that MIT accepted us,” says CEO Mathew Graham. “We are very humbled to walk amongst such giants.”
The work-wallet platform for gig-workers, contractors, entrepreneurs, and full-time employees is “at the edge of innovation and decentralized finance,” according to Graham—while MIT “is at the top of the list with respect to technology.”
“It’s an amazing feeling to know that they understand the potential of our company,” he said of the institution and its startup accelerator program.
As a result of their alliance with MIT, Gigamatic will receive mentorship and guidance from PhDs about technology and business strategy. They will also work directly with MIT students who will recommend best practices and help implement solutions.
“We are extremely humbled to be working with such a renowned institution, and are looking forward to collaborating with such a talented group,” the startup tweeted.
The company admits it is in “early days” but believes it is equipped with “the right set of skills and experience” to achieve its mission, which is to ride a paradigm shift in the power-balance of workers.
“Our purpose is to serve the employee workforce and give them tools to make their financial and physical health care decisions easier to manage,” affirms the company. “Our goal is to transform the way that people balance their financial and health services—we believe that companies should start seeing their employee workforce as humans, where one person’s rights are not more important than another.”