Castellum.AI provides a compliance screening platform that utilizes real-time data synchronization and advanced algorithms to identify financial crime risks across sanctions, PEPs, and adverse media. By reducing false positives by 88%, the solution enhances the efficiency of compliance teams in banks, fintechs, and global companies, streamlining KYC and transaction monitoring processes.
Funding
$4M 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 and global companies face challenges in efficiently identifying and mitigating financial crime risks due to the high volume of data and potential for false positives in compliance screening processes. Traditional compliance screening methods often result in slow onboarding, increased operational costs, and potential regulatory scrutiny.
Solution
Castellum.AI offers a compliance screening platform that leverages real-time data synchronization and an advanced KYC algorithm (JGRAM) to accurately identify financial crime risks across sanctions, PEPs, adverse media, and high-risk ownership. The platform reduces false positives by up to 88% through patented enrichments on sanctions and financial crime data, streamlining KYC and transaction monitoring processes. Its solutions support various compliance needs, including KYC/KYB onboarding, real-time monitoring, transaction screening, and supply chain compliance. The system is designed for seamless integration into existing systems via a developer-friendly API, enabling organizations to automate compliance screening and maintain trust.
Target Audience
The primary target audience includes banks, fintechs, and global companies that require efficient and accurate compliance screening solutions to meet KYC/AML requirements and mitigate financial crime risks.
Features
- Real-time data synchronization with updates every five minutes
- Advanced KYC algorithm (JGRAM) to enhance accuracy and reduce false positives
- Customizable filters to align screening parameters with organizational risk profiles
- Integrated adverse media and custom risk data for comprehensive risk profiling
- Global coverage with over 1,000 risk data lists for KYC compliance in over 200 countries and territories
- Sanctioned beneficial ownership database to comply with OFAC's 50 Percent Rule
- API for direct integration with TPRM and ERM systems for supply chain due diligence
- Automated alert adjudication to streamline alert management