Schwarzthal Tech, a London, UK-based Financial Crime Intelligence startup, raised £150K in Pre-Seed funding.
The round was led by SFC Capital.
The company intends to use the funds to further develop the platform, build the marketing team as well as to file for an intellectual property patent on their “Know your Network” methodology.
Led by CEO Marius-Cristian Frunza, Schwarzthal Tech uses AI to fight financial crime by gathering publicly available information and building an individual’s network to support investigations into potential criminals.
Schwarzthal Tech’s know your network (KYN) methodology introduces a multi-dimensional and comprehensive view of a clients’ connections to give financial institutions a holistic risk assessment. It’s AI-driven platform aims to provide tools for investigators and compliance professionals and to democratize the fight against financial crime. The platform’s advanced technology uses algorithms to enable users to assess potential customers’ connections with criminal or suspicious networks and perform in depth assessment.
The platform gathers publicly available information in different languages across databases globally – political exposure and sanctions list, company registries, social media, etc. – to build an individual’s network and create a visual presentation of the network to present to the customer. Users are then able to assess potential customers’ connections with criminal or suspicious networks and perform in depth assessment. Furthermore, the platform’s AI is trained to connect information found on databases, media and other public sources to establish connections on an ongoing basis and keep the networks updated.
FinSMEs
24/02/2022