Kompliant closes USD 14 mln to scale its solutions

Monday 1 August 2022 13:34 CET | News

Kompliant, a US-based compliance startup, has closed a USD 14 million seed round led by Level One Fund.

The round also included existing investors like Casa Verde, with their own track of backing tech platforms such as Dutchie, Leaflink, and Metrc.

The investment will allow Kompliant’s to devote additional resources to scale its platform solutions and expand the Kompliant Intelligence Platform suite of merchant onboarding, underwriting workflow management, and monitoring solutions.

Kompliant works with payment processors and banks to solve commerce compliance compatibility across sponsor banks, acquirer processors, ISOs, VARs, ISVs, gateways, and the merchants they serve. Kompliant provides a standard set of protocols, data structures, and interfaces across application processing, application verification, underwriting management, and ongoing monitoring.

Kompliant closes USD 14 mln

Improving the onboarding experience through artificial intelligence

Kompliant is artificial intelligence-driven business onboarding and risk scoring platform. Itss platform allows customers to build credit risk programs by leveraging services such as auditing, application processing and verification, and business monitoring. Sales and finance teams can use Kompliant’s tools to design the data capture, workflows, pricing algorithms, and credit decisioning rules that drive their programs, while oversight teams can take advantage of the startup’s solutions for risk and compliance management.

As customer experience/compliance ‘trade-off’ remains a challenge, FIs need cross-functional approaches to implementing technology so their risk-based approach and resulting policies prove effective while leveraging tech to optimise customer experiences. Kompliant solves for end-to-end compliance lifecycle management through technology that automates many of the manual processes associated with the underwriting and monitoring for financial institutions.

Kompliant’s list of offerings

Kompliant completed several pilots while in stealth mode and now it plans to work with partners to co-develop new offerings, including several germane to credit bureaus, data service providers and fraud prevention platforms.

Kompliant address the compliance lifecycle across application processing, application verification, payment service activation, transaction verification, business monitoring, owner monitoring, and audit services.

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Keywords: funding, compliance, startup, investment, merchant
Categories: Fraud & Financial Crime
Companies: Kompliant, Level One Fund
Countries: United States
This article is part of category

Fraud & Financial Crime



Level One Fund

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