One Zero is a fintech company dedicated to applying artificial intelligence to retail banking services. Founded jointly by Amnon Shashua, the founder and CEO of Mobileye, the company is currently raising at least $100 million. One Zero's mission is to democratize private banking services for the masses, achieving this through a dual business focus.
Image source note: The image is AI-generated, provided by the image licensing service Midjourney
In Israel, One Zero has obtained a banking license and is establishing a full-stack retail bank. Additionally, One Zero leverages insights from its retail operations to train its models and refine its technology, which it then licenses to banks operating elsewhere.
One Zero's retail business currently serves approximately 110,000 customers. Although no licensing agreements have been announced yet, the company states that it has received numerous licensing requests from major banks. The cornerstone of the company is a chatbot named Ella, which aims to outperform existing chatbots while offering services that human bankers cannot provide.
One Zero's approach to building this artificial intelligence is highly ambitious, reminiscent of the challenges of autonomous driving. It focuses on using multiple large language models to provide diverse responses, then employs a verification process to determine when answers are misleading or incorrect.
The system starts with more basic tasks such as expense management and plans to add more features over time to assist customers with financing large purchases or saving money more wisely.