Diligent utilizes Large Language Models to automate due diligence processes for fintechs and banks, enhancing the efficiency of risk and compliance operations. The platform streamlines the verification of business legitimacy, reduces false positive alerts, and minimizes onboarding friction, ultimately lowering compliance costs and improving risk assessment.
Funding
$500K 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
Fintechs and banks face challenges in efficiently verifying the legitimacy of small business customers, leading to increased compliance costs and potential onboarding friction. Traditional due diligence processes are often time-consuming, manual, and prone to false positive alerts, hindering effective risk assessment.
Solution
Diligent leverages Large Language Models (LLMs) to automate and enhance due diligence processes for financial institutions. The platform streamlines the verification of business information, investigates online footprints, and identifies connections to high-risk entities. By applying investigative reasoning at scale, Diligent accelerates risk investigations, reduces false positives from Sanctions/PEP/Adverse Media systems, and minimizes customer onboarding friction. The AI-powered solution integrates with existing KYC/AML systems, providing a comprehensive audit trail and strengthening overall risk assessment capabilities.
Target Audience
The primary target audience includes fraud and AML teams within fintech companies and banks responsible for conducting due diligence on business customers.
Features
- AI-powered risk assistant for holistic investigation of SMB customers, including industry classification, address analyses, website reviews, and online presence risk signals.
- Automated screening assistant to investigate alerts from existing Sanctions/PEP/Adverse Media systems and reduce false positives.
- KYB assistant to verify business information and validate customer-uploaded documents, such as registry extracts and proof of address.
- Web presence investigation to flag involvement in high-risk activities and identify negative reputation signals from reviews or social media.
- Network analysis to identify connections to high-risk entities, fraud rings, or suspicious activities through shared entity details, addresses, or people.
- Ongoing monitoring to track changes in business activities, reputation deterioration, or ownership to detect emerging risks.
- Seamless integration with existing KYC/AML systems via API or a user-friendly UI.