Fedo partners with neo bank Open

Artificial Intelligence driven Health-tech organization Fedo has announced a ‘Health Savings Account’, called Fedo HSA, in collaboration with neo bank Open.

Fedo HSA will offering a combined record that assists clients with meeting their required spends through a combination of smart savings, insurance, line of credit all bundled in a powerful savings account that comes with a health Credit/Debit cards with health benefits features and rewards.

“There is a desperate need of change on the healthcare sector to resolve the issues with the rising healthcare costs and the aftermath of the pandemic. We are glad to be a piece of Fedo HSA venture that can possibly transform the industry by adopting a personalized strategy towards healthcare finance clubbed with incredible customer innovation by technology,” Anish Achuthan, CEO, OPEN said in a statement.

Fedo said that there is an exceptionally large and urgent need to simplify and bridge the financing gap between insurance policy coverage and hospitalization costs. This contribution will improve the value proposition for insurers and banks alike, and all the more critically will address the needs of customers, with empathy.

“With the right mix of data and machine intelligence, Fedo HSA means to provide a systematic method for health needs based on predictable health risks and tackle the financial crisis which impacts many families every year because of medical emergencies,” Prasanth Madavana, CEO and Co-Founder at Fedo said.