Block Convey provides blockchain solutions that include decentralized storage, federated learning, and data tokenization to reduce AI training and storage costs for businesses. The platform enhances data governance and security, enabling efficient data validation and sharing across institutional and individual clients.
Funding
$200K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face increasing challenges in governing and ensuring compliance of AI models due to regulatory complexity, the risk of bias, and the need for transparency. Traditional methods are often manual, time-consuming, and lack the real-time monitoring capabilities required to maintain optimal performance and adhere to evolving standards.
Solution
Block Convey offers an AI compliance automation platform that helps financial institutions evaluate, monitor, and audit AI models against industry-specific regulatory frameworks. The platform provides real-time detection of fairness issues, bias, and model drift, ensuring compliance with standards like ISO, ECCOA, and GDPR. It streamlines AI governance through automated workflows, facilitates AI risk management by evaluating systems against operational, regulatory, and reputational risks, and integrates with existing AI infrastructure to generate comprehensive governance insights. Block Convey's platform supports various application modules, including credit risk assessment, insurance claims processing, and fraud detection.
Target Audience
Block Convey primarily serves financial institutions, fintech startups, and insurtech companies that need to ensure compliance and effective governance of their AI models.
Features
- Automated workflows for AI governance, risk management, and compliance
- Real-time detection of fairness issues, bias, and model drift
- Support for compliance with ISO, ECCOA, GDPR, FCRA, AML, HIPAA and other financial regulatory requirements
- Integration with existing AI infrastructure for comprehensive governance insights
- Application modules for credit risk assessment, insurance claims processing, and fraud detection
- Fairness analysis to ensure equal treatment across demographic segments
- Risk detection using advanced anomaly detection algorithms
- Generative AI org best practices for ChatGPT, Dalle2, Claude, Stable.M, Midjourney, Dolly