ComplyAdvantage acquires Golden, welcomes a16z as new shareholder

Wednesday 24 April 2024 13:29 CET | News

Financial crime intelligence company ComplyAdvantage has acquired Golden to accelerate its AI capabilities in providing financial crime insights.


Golden is a San US-based innovator automating the construction of one of the world’s largest knowledge graphs, which shows interconnected data points and their relationships for the purpose of analysing complex information.

ComplyAdvantage has acquired Golden to accelerate its AI capabilities in providing financial crime insights.

How Golden facilitates ComplyAdvantage to combat financial crime

Financial institutions and other regulated entities are required by law to ensure the people and organisations they choose to do business with are legitimate and that the transactions they facilitate are legal.

ComplyAdvantage uses AI and machine learning to parse through a continuously updated database of entities to give clients the most accurate 360-degree view of financial crime risk. As clients respond to alerts, a feedback loop continuously enriches the insights ComplyAdvantage provides.

Golden’s data extraction and disambiguation using sophisticated natural language processing will bring additional disparate data sources into ComplyAdvantage’s data ingestion layer to provide clients with even more comprehensive, real-time financial crime risk insights.

The acquisition also strengthens ComplyAdvantage’s foothold in North America, with Golden bringing an extensive base of US customers.

Officials from ComplyAdvantage said that delivering AI-enriched financial crime insights to their customers with and augmented user experience built on interconnected data has been their priority since day one. The acquisition of Golden is a critical milestone on that journey. They are happy to welcome their talented team to the ComplyAdvantage family, alongside a16z, who bring powerful expertise as they embark on the next phase of their growth journey.

Also commenting on this acquisition, representatives from Gloden said that by combining their experienced team of AI and large language model (LLM) specialists with ComplyAdvantage’s data science team, they are creating a global team of data experts. Together, they’re confident they will transform financial crime risk management for businesses worldwide.

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Keywords: financial crime, machine learning, fraud prevention, artificial intelligence, data, acquisition
Categories: Fraud & Financial Crime
Companies: ComplyAdvantage, Golden
Countries: World
This article is part of category

Fraud & Financial Crime




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