‍AI-native software provider helps financial institutions implement compliance and customer-centric automated tools

Marina Del Rey, Calif. (September 24, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced Spring Labs as its newest member. Founded by seasoned fintech entrepreneurs, Spring Labs is dedicated to helping financial institutions leverage AI-driven technology to streamline operations and enhance productivity, while maintaining the highest compliance standards. As a member of AFC, Spring Labs joins a growing group of transformational companies dedicated to shaping a more transparent and efficient future for financial services.

“Spring Labs is at the forefront of transforming financial services through intelligent compliance and customer-centric automation, a key factor in improving regulatory outcomes, driving efficiency for institutions, and achieving better results for consumers,” said Phil Goldfeder, Chief Executive Officer of AFC. “Their commitment to practical AI innovation, paired with a focus on data security and compliance, exemplifies the qualities we seek in AFC members. We are excited to welcome Spring Labs and look forward to collaborating to create a more inclusive, efficient, and forward-thinking financial ecosystem.”

Spring Labs developed Zanko, the AI copilot for financial institutions, which speeds up complaint resolution by 70%, makes CX teams 50% more efficient, and deflects 30% of call center contact. Spring Labs also offers Livesight, an AI-native entity search engine optimized for lead qualification, know your business (KYB) reviews, and portfolio monitoring. The company’s SOC 2 Type 2 compliance ensures institutions can adopt new technologies with confidence, knowing that security and data integrity remain at the core of development.

“At Spring Labs, we believe in the power of AI to revolutionize financial services,” said John Sun, CEO and Co-Founder of Spring Labs. “We’re proud to count some of the leading BaaS banks and fintech providers among our many clients. Joining AFC allows us to collaborate with like-minded innovators who share our focus on improving the efficiency and regulatory compliance of financial services to better serve customers and communities. We’re excited to work alongside other AFC members to put practical and responsible AI innovation at the center of our financial system.”

In addition, the American Fintech Council has partnered with Spring Labs to host the inaugural AI-Native Banking and Fintech Conference on October 7^th at the University of Utah. This groundbreaking event is the only AI conference dedicated to real-world AI use cases at innovative banks and fintech companies.

A standards-based organization, AFC is the premier trade association representing the largest fintech companies and innovative BaaS banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About Spring Labs

Spring Labs is the creator of Zanko, the intelligent AI copilot for financial institutions. Zanko streamlines customer support and compliance operations by automating tasks, enabling robust self-service options, boosting team efficiency and enhancing the customer experience. For more information, visit: https://www.springlabs.com/.

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