Diligent AI has raised $2.5 million in funding to enhance its financial crime compliance operations using artificial intelligence. The investment round was spearheaded by Speedinvest and Shapers, with contributions from Y Combinator and notable angel investors from various fintech firms, including executives from Allica Bank and N26.
Specializing in automating tasks related to know your customer (KYC) and anti-money laundering (AML) processes, Diligent AI aims to alleviate the burden on compliance teams overwhelmed by increasing fraud and scam incidents due to the rise of digital payments. Their platform utilizes autonomous AI agents to streamline workflows, allowing teams to focus on more complex analysis and decision-making.
The technology has already been implemented by numerous publicly listed payment companies and banks across regions including North America and Europe. Clients such as Flywire and Teya have benefited from the automation, enhancing their operational efficiency. With the new funding, Diligent AI plans to expand its product offerings and strengthen its market presence to better serve its global clientele.