Logical Glue, the global leader in Explainable AI (XAI),,helps businesses unlock the exceptional technological power of Artificial Intelligence and Machine Learning. London based Logical Glue, founded in 2012, builds business boosting, future-proofed XAI-powered systems that bring transparency to the forefront of business decision making and ensures best practice accountability offering real business value. Its explainable, reliable, and interpretable human-centric solutions deliver actionable insights that will pay dividends for your business today and in the future.
Lighthouse’s Les Elby and Mark Davis advised Logical Glue on the transaction.
Max Chuard, Chief Executive Officer, Temenos, said:"This is a highly strategic acquisition for Temenos as it accelerates our AI roadmap, brings an impressive team onboard that is immersed in AI and Machine Learning and builds upon the work carried out by Temenos’ AI Centre of Excellence. Logical Glue is a true innovator and their patented, award-winning Explainable AI platform and AI credit scoring models are unique in the banking industry. Explainable AI is a game changer for our customers. It will give them greater transparency and explainability of AI automated decisions and recommendations helping them harness AI technology to create seamless customer journeys and automate manual processes while meeting the growing regulatory demands. The Logical Glue XAI platform will be immediately integrated with Temenos’ cloud-native, cloud-agnostic banking platform and will be available with all Temenos products giving our customers, the next generation of AI- powered explainable applications.”
Professor Hani Hagras, co-Founder and Chief Science Officer at Logical Glue Ltd., said: “We are delighted and excited to be joining the Temenos family at this hugely exciting time. Since 2012, Logical Glue has been at the forefront of machine learning and artificial intelligence and we are fearlessly passionate about advancing the potential of Explainable AI. With our patented, cutting-edge XAI platform and our highly experienced machine learning experts, we are helping financial institutions harness the explosive power of XAI and helping them master AI decision making. We are excited to combine our strengths with Temenos’ expertise, reach and passion. Together, I am sure we will be able to transform the industry”
Les Elby, Partner at Lighthouse Advisory Partners said: “Logical Glue is an innovative company leading the way globally in Explainable AI. We are delighted to have advised the Logical Glue team and matched them up with Temenos. We wish Temenos and Logical Glue the very best.”