Consilient Announces $3 Million Seed Funding Round for the Development of Next-Generation Financial Crime Compliance Technology

Financial investment in management and technological know-how innovation positions the business to redefine anti-revenue laundering and combating economic fraud

WASHINGTON, May well 24, 2022 /PRNewswire/ — Consilient, a fintech innovator aiming to rework money criminal offense compliance, these days introduced it has secured a non-public $3 million seed funding round that will assist the company’s vision to develop into the leader in the advancement of up coming-generation equipment discovering engineering to detect and protect against illicit action inside of monetary ecosystems. Consilient was launched by a partnership involving K2 Integrity and Giant Oak.

The seed spherical will give functioning and expansion capital to accelerate consumer pilots, make further more financial investment to pace up the swift construct program increasing product style and design and deployment capabilities, as very well as augmenting the current groups. Consilient’s federated device discovering technological innovation enables companies to find out and control money crime dangers dynamically and properly, when preserving privateness. It enables enterprises to acquire insights across the marketplace devoid of relocating sharing or relocating info.

“Criminals adapted through the pandemic and go on to evolve. But new improvements in technologies can empower those people men and women and groups engaged in combatting money crime,” explained Gary Shiffman, CEO and co-founder of Consilient. “Current detection and prevention devices simply do not get the job done, in spite of significant investments manufactured just about every calendar year. As an sector, it is critical that we apply the subsequent technology anti-money laundering solution. It is our objective to solve this elementary problem.”

Consilient is poised to reshape the way the financial process prevents monetary criminal offense,” mentioned Juan Zarate, chairman and co-founder of Consilient. “Consilient elegantly solves at once the bedeviling issues impacting the AML/CFT method globally: inefficiency, ineffectiveness, issues for facts privacy and security, and the decentralization of the financial procedure. To regulate fiscal criminal offense chance and sanctions exposure in the 21st century, Consilient will need to be a essential section of the resolution for banking institutions, payment suppliers, the crypto business, and regulators.”

Consilient has two technologies patents pending for an adaptive transaction processing system and the orchestration techniques for adaptive transaction processing. The company also expanded its senior management group with the appointment of Laurence Hamilton as main industrial officer and Christina Schott as head of buyer good results. Hamilton and Schott adhere to the employ the service of of Shawn Holtzclaw as Consilient’s president & chief legal officer.

Hamilton joined Consilient just after supporting launch a British isles-centered digital bank, JN Financial institution British isles, as its main commercial officer. He has used above two decades leading international info and analytics corporations, developing global market place approaches and new products progress for credit history, fraud and anti-income laundering methods. Schott joined Consilient from BMO Harris Financial institution, wherever she served as manager of fraud operations strategy and was liable for the department’s transformation. She brings in excess of 18 years of know-how working experience, applying flexible, scalable alternatives for fraud, id and authentication chance mitigation with a aim on the client expertise.

Understand a lot more about Consilient below.

About Consilient
Launched by means of a partnership concerning K2 Integrity (www.k2integrity.com) and Giant Oak (www.giantoak.com), Consilient is the 21st century response for ideal-in-class anti-revenue laundering and countering the funding of terrorism (AML/CFT) compliance methods.

Consilient’s solution is a behavioral-dependent, machine discovering-pushed utility and governance design style that enables financial institutions to far more successfully share information about dangers and illicit actors in true time, while adhering to privacy protections and knowledge localization constraints. Consilient takes advantage of federated studying, which permits money institutions to accessibility and interrogate data sets in different institutions, databases, and even jurisdictions to learn earlier mysterious but current challenges.

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