AiPrise Slashes Compliance Costs by 50% with AI in Minutes
URGENT UPDATE: AiPrise, under the leadership of Chaitanya Sarda, has just announced a groundbreaking solution that halves compliance costs for financial institutions. This transformation is especially significant for the Know Your Business (KYB) process, which has notoriously burdened the industry with high expenses and lengthy onboarding times.
Traditionally, verifying the legitimacy of business clients through KYB has taken weeks, involving labor-intensive manual work. Now, thanks to AiPrise’s innovative compliance platform, onboarding can be completed in less than three minutes, a staggering tenfold improvement. This new technology not only saves millions but also accelerates global business growth in a rapidly evolving market.
In a world where compliance is essential to prevent financial crimes like money laundering and fraud, AiPrise’s automated approach is a game changer. The current KYB systems are fragmented and slow, leading to operational delays and costly inefficiencies that can cause potential clients to abandon the onboarding process entirely. With AiPrise’s platform, financial institutions can instantly collect and verify over 800 business data points across more than 200 countries, drastically improving customer experience.
Chaitanya Sarda, who previously led fraud prevention projects at Google, has spearheaded this technology-driven overhaul. AiPrise employs advanced AI algorithms and automation to streamline every step of KYB verification. Its intelligent auto-fill technology allows compliance forms to be completed using just a company’s name or registration number, making the process faster and more accurate.
The financial implications of this innovation are enormous. By automating compliance checks, AiPrise has effectively reduced operational costs associated with KYB by 50%. This allows banks and payments companies to allocate resources toward innovation and core activities. Furthermore, rapid onboarding capabilities empower businesses to expand confidently into new markets, meeting the rising demand for global financial services.
Since its inception in 2022, AiPrise has attracted 120 paying customers, including four publicly traded companies in the U.S. market. The company recently raised $2 million from high-profile investors such as Okta Ventures and Liquid 2 Ventures, reinforcing its disruptive approach within the compliance landscape.
Chaitanya’s leadership blends rigorous academic excellence with hands-on tech innovation. An alumnus of IIT Kharagpur, where he ranked among the top 0.2% in a national exam, he honed his software skills at Oracle before advancing to Google, where he developed machine learning algorithms for global spam detection.
As regulatory frameworks continue to evolve, the demand for efficient compliance tools grows more pressing. Chaitanya Sarda’s vision for AiPrise is not only to enhance KYB but also to establish new industry standards for automation and data-driven decision-making.
By slashing compliance costs and onboarding times through intelligent automation, AiPrise is empowering financial institutions worldwide to operate more securely and competitively. This pioneering work illustrates how technological innovation can transform entrenched processes, delivering measurable business value while strengthening global financial integrity.
As the industry watches this development closely, the implications for financial institutions and their clients are profound. Stay tuned for more updates on how AiPrise continues to reshape compliance in the financial sector.
