Two dads operating out of a basement in Richmond have bagged the prestigious AIFinTech100 award with their sustainability technology.

Wilson Chan, CEO, and founder of Permutable, a business which uses artificial intelligence (AI) to gather and simplify data, says him and his team are “delighted to receive the recognition”.

Permutable founder Chan met Jon Slinn, now Commercial Director at Permutable, as their daughters were in the same class in school - and they then started the business inside a basement in Richmond.

The AIFinTech100 awards highlights the world’s most innovative solution providers who are developing artificial intelligence and machine learning technologies to solve challenges or improve efficiency in financial services.

Permutable received the prestigious award after the success of using AI machines to explore ways in which companies around the world are being sustainable.

Wilson told the Richmond and Twickenham Times: “We're very small start-up business in Richmond, but we're making some really big strides.

“Before Permutable, I worked in a completely different job.

“But I soon decided to invest all of the money into this kind of technology – AI machines.

“We’ve been working on sustainability issues over the last two years and it’s great to be recognised.”

After gathering clients from across the world – including Asia, North America, and Europe – Permutable has been dubbed as one of the leading AI solution providers in financial services by FinTech Global.

Wilson says Permutable “holds companies accountable” by producing ethical reports on all the biggest companies in the world.

He explained: “We effectively provide technology to all the stakeholders, investors, and the people that will get these people in line in the future.

“So, for example, on our website, we actually generate sustainability reports.

“Anyone can look up any company they’re interested in and see information about it, such as, how they treat people, how they should want it, and whether they run themselves correctly.”

Permutable bagged the AIFinTech100 award earlier this month, after the selection process was “extremely competitive” and featured 100 companies from across the world.

You can view the 100 listed companies here