Finnovating launched MatchGPT®, the world's first Match Generative Pre-Trained Transformer focused on connecting tech companies to accelerate B2B business and collaborations in Asia. It has been developed using OpenAI and AI-owned algorithms and fuelled by exclusive data from the Finnovating Platform, an AI-Deal Matching Platform for Tech Companies. 

B2B continues to gain traction in the Asian Fintech industry

In 2022, the capital raised by corporations engaged in B2B businesses in Asia amounted to 15,116 million dollars, representing a 17% of the total investment in the fintech industry worldwide. It seems that this trend is on the rise, given that in the first half of 2023, the capital raised by corporations engaged in B2B businesses in Asia amounted to 3,792 million dollars, representing a 13% of the total global investment in the fintech industry, according to data from FT Partners. 

Several notable companies that have successfully secured substantial capital include Toss and GLN International in South Korea, UnionBank and Advance Tech Lending in the Philippines, Amber Group and Aspire in Singapore, Halodoc and Light Microfinance in Indonesia, and Roojai in Thailand.

This scenario highlights the rise of B2B solutions within the Fintech industry, which continues to grow in Asia, with 15,000 active Fintech companies, 7% more than the previous year, according to data from the Finnovating platform (which has 100,000 technology companies in more than 130 countries).

Of the total Fintech companies in Asia: 6,700 are specialised in B2B business and 6,100 in B2C. 1,100 Fintech are using blockchain technology and 820 the artificial intelligence (AI). 2,500 are SaaS or platform Fintech companies.

With B2B companies spending an average of 10% of their annual revenue on business development and 4% on IT solutions, falling advertising and investment ROI ratios have become a pressing concern for many companies. In addition, technological solutions for closing deals and partnerships between corporations and tech startups are increasingly crucial for the Fintech industry. Finnovating has therefore introduced MatchGPT to the Asian market, a solution designed to facilitate these connections and partnerships, ensuring the continued growth and success of businesses in the region.

A solid foundation for AI technologies

Since its inception, the Finnovating platform has collected over 20 million interactions among 100,000 tech companies, providing the perfect foundation for training cutting-edge GPT AI technologies. The result of this endeavor is MatchGPT®, a groundbreaking AI-driven solution for matching tech companies and fostering innovation.

In the end, their proposal is based on providing all the contacts and profiles of our B2B business platform in the tech industry to this big brain to be much more efficient in generating business between corporates and startups.

"If you want to know the seven most important fintech companies in Kenya, it's not only going to list them for you but also connect you with the one that interests you through the platform. MatchGPT® isn't just another product but a vertical integration with the Finnovating platform, opening a new chapter in the sector”, explains Rodrigo García de la Cruz, Finnovating's CEO and founder.

Key distinctions between MatchGPT® and ChatGPT

García de la Cruz also emphasizes the differences between MatchGPT (called also Conrad) and ChatGPT, clarifying that MatchGPT® was not developed from GPT-3.5 or GPT-4. The primary differences include:

Focus: MatchGPT® is designed for B2B matchings and interactions, catering to companies interested in technology, innovation, and business; it is also used by Governments to attract and engage with tech communities over the world.  ChatGPT, however, is a generic B2C solution for a broader user base.

Objective: MatchGPT® serves as an intelligent assistant to match, connect, and facilitate transactions, effectively reducing the gap between companies worldwide. ChatGPT, on the other hand, functions primarily as a conversational chatbot without matching and transactional features.

Construction: MatchGPT® is built on proprietary behavioural and transactional data from Finnovating's platform, which boasts over 20 million interactions between 100,000 tech companies from more than 125 countries. In contrast, ChatGPT relies on more generic information extracted from the web.

Personalized Results: MatchGPT® delivers tailored results to registered users of the Finnovating Platform which intends to trigger a match and business with the right client/partner, while ChatGPT provides identical responses to all users, regardless of their background.

The possibilities with this technology are virtually limitless. A few examples might be: identify the leading 7 B2B fintech companies utilizing artificial intelligence and machine learning in France, learn how to expand your fintech business to the United Arab Emirates, discover key connections in Mexico to scale your insurtech, find the top investors seeking Series A B2E businesses in Singapore, or explore lucrative business opportunities in the US healthtech industry.

A new era of B2B GPT solutions

"We started using some of OpenAI's algorithms to see how we could create our own GPT, but oriented towards businesses, towards commerce. We realized that this huge amount of well-structured data allowed us to achieve results with great precision, far removed from what other companies achieve and which does not meet the demands of this technology" explains Pedro Uría, Finnovating Ambassador in Asia.