Steele Compliance Solutions acquired TransparINT, a Little Falls, NJ-based technology company harnessing Artificial Intelligence technology to provide innovative compliance tools.
The amount of the deal was not disclosed.
Led by Keith Graham, CEO, TransparINT provides financial crime compliance tools. Its innovative search and monitoring platform leverages machine learning and natural language processing to provide financial institutions with a unified tool to protect their organizations from regulatory and reputational risks.
Its proprietary AI engine leverages over 5 million sources to compile risk records on over 43 million entities and individuals across 120 countries. The platform is currently used in 4 of the top 10 US banks and globally by thousands of AML and Financial Crime professionals.
The acquisition creates a combination of software technology and human + artificial intelligence, all designed to deliver an industry-leading set of compliance and risk mitigation tools.
A portfolio company of Bregal Sagemount and led by Eric Lochner, CEO, Steele offers configurable compliance solutions that incorporate artificial intelligence, training, automation, and human diligence to help users to thoroughly evaluate and mitigate potential risks.
FinSMEs
25/06/2018