November 20, 2023

Lola AI: Leap Financial Launches AI Assistant To Help Immigrants Adjust To US Life

Leap Financial, a financial services tech company focused on Hispanic and Latin Americans, has launched Lola AI.

The new AI assistant coaches recently arrived immigrants to the US, helping them fully integrate.

Leap Financial

The 2022 Census estimated more than 46 million immigrants live in the US, comprising about 13.9% of the population.

Almost 80% of America’s unicorn companies have an immigrant founder or an immigrant in a crucial leadership role, such as CEO.

Leap Financial is a team of engineers, designers, and software developers who create and launch innovative fintech companies focusing on Hispanic and Latin American consumers.

Founded by Marcela Heano and Lionel Carrasco in 2018, financial and non-financial institutions can leverage “Fintech” services without cost and time concerns.

They offer a cloud-based modular platform covering a biometric wallet for instant issuing, cross-border payments, payment facilitation, and many other services, with sponsorships by regulated banks, Visa and Mastercard.

Lola AI

According to a press release, Carrasco and Henao saw an urgent need to guide recently arrived immigrants in the US.

They found that learning a new language and navigating complex laws to find work, housing, healthcare, and more are just a few obstacles most immigrants face.

Lola answers questions that recent arrivals may be hesitant to ask in the real world, facilitating faster economic integration for immigrants to become productive.

Lola additionally gives guidance on dealing with anxiety related to legal status, family separation, and access to primary healthcare.

Unlike traditional AI tools, Lola considers language, country-specific expressions, and common spelling mistakes and is constantly updated by custom-curating official information services.

“We created Lola as a first step to ensure our immigrant community has a coach right in their smartphones,” said Carrasco.

“The faster the system can insert people into the labor and financial system by providing them with accurate information to operate in the ecosystem, the faster they will have a positive impact.”

With Lola, there’s no need to download an AI app; it offers free guidance and is available 24/7.

Sara Keenan

Tech Reporter at POCIT. Following her master's degree in journalism, Sara cultivated a deep passion for writing and driving positive change for Black and Brown individuals across all areas of life. This passion expanded to include the experiences of Black and Brown people in tech thanks to her internship experience as an editorial assistant at a tech startup.