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RegTech Pioneer, Compliance.ai Secures Series A Funding

RegTech company Compliance.ai has closed its Series A round of financing, raising $3 million in additional funding led by Cota Capital. The company is committed to providing best-in-class RCM processes for compliance officers, risk officers, counsel, and regulators alike. This includes an expansion into G-20 regulatory coverage, enhanced workflows, advanced reporting, and expanding its partnerships with the industry’s leading GRC’s to facilitate accessibility.

“Our platform is growing quickly, both in terms of the capabilities we offer, and our client base of compliance and risk professionals,” said Kayvan Alikhani, CEO and co-founder of Compliance.ai. “The Series-A funding will accelerate expansion into international jurisdictions and expedite our mission of transforming compliance processes.”

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Compliance.ai helps compliance professionals navigate the mounting and complex regulations. Its AI-platform replaces the tedious and time-consuming processes involved in manually managing regulatory compliance. With Compliance.ai, users are equipped with a modern approach to responding to the volume and velocity of regulations.

Compliance.ai’s Expert Connection provides users with access to domain experts who publish manuals, whitepapers (from law firms), and provide regulatory guidance to our clients.
Compliance.ai has recently added two significant new premium content partners:

  • Nacha, an organization that develops rules and standards for financial transactions that improve compatibility and integration among financial institutions worldwide. Nacha.org is the primary standards information resource for several categories of financial transactions, including Automated Clearing House (ACH), Electronic Benefits Transfers (EBT), and healthcare Electronic Benefits Transfers (EFT).

  • WesPay, a payments association with an extensive library of reference guides, ACH and Remote Deposit Capture (RDC) sample policies, toolkits, workbooks, and ACH audit guides.
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New Advisory Board Members

With the emergence of Compliance.ai as the leading provider of RegTech solutions, the company has expanded its Advisory Board to include industry experts:

  • Marty T. Mitchell, Certified Regulatory Compliance Manager & Managing Director, ProBank Austin, Louisville
  • Christine Reddy, Vice President & Deputy Corporate Secretary, Fannie Mae, Washington DC
  • Jeffrey Smith, Founder & Managing Attorney, LawVisory, and Chief Legal Officer & Chief Compliance Officer, Virtue Capital Management, Nashville
  • Kelvin Dickenson, Strategic Advisor & Certified Financial Crime Specialist, New York

“The primary challenge of a successful compliance management system is the critical component of remaining up to date on the myriad of regulatory rules and regulations,” stated Marty Mitchell, CRCM, Chairman of the Board of Governors of the Online Lending Policy Institute, and Managing Director/Board Member of ProBank Austin.  “This was true when I was an examiner with the FDIC and is even more so in our ever-increasing fast-paced, complex environment.  Manual processes alone are no longer adequate.  RegTech solutions such as Compliance.ai are a must for CCOs (and their regulators) to smartly, efficiently research the latest regulations and manage multiple aspects of their programs in a compliant manner.”

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