- Fintech company Douugh (DOU) has completed its beta program ahead of the full market launch of its financial app in the United States
- So far, the company has achieved significant regulatory approvals and progressed development tasks to get the app to market
- The tasks include meeting advanced protocols to protect against money laundering and training up Douugh’s artificial intelligence fraud engine to protect data against account takeovers
- App tweaks have also been made, such as changes to accommodate the latest Apple software (iOS 14) and iPhone Max screens
- With these tasks completed, Douugh is on track for its Friday launch
- On the market this morning, Douugh is up 9.09 per cent, trading for 30 cents per share
Douugh (DOU) has completed its beta program ahead of the full market launch of its financial app in the United States.
The company describes itself as a next-generation neobank and artificial intelligence (AI) financial wellness app developer, which debuted on the ASX on October 6.
The end of the beta program means the company has completed significant regulatory and development tasks. The approvals included advanced protocols to meet anti-money laundering (AML) and office of foreign assets control (OFAC) regulations.
Douugh also collected case data to train up its artificial intelligence fraud engine to protect data against account takeover and transactional fraud events.
In terms of development, tweaks to the app have also been made, such as changes to accommodate the latest Apple software (iOS 14) and iPhone Max screens. Users can now see pending transactions, such as when ingoing or outgoing card payments are pending
Completing these tasks means Douugh is on schedule to submit its final build to the App Store by Friday, November 15.
Last month, the company posted strong financials, finishing the September quarter with $6.5 million in cash.
On the market this morning, Douugh is up 9.09 per cent, trading for 30 cents per share at 11:27 am AEDT.