"Banks struggle with manual, error-prone processes that create backlogs, increase risk, and explode costs while compliance teams are overwhelmed by alert volumes that can bury operations. WorkFusion addresses these critical challenges by delivering AI Agents specifically designed for financial crime compliance, offering pre-built digital workers that automate Level 1 analyst functions across sanctions screening, transaction monitoring, KYC, and adverse media monitoring."
"The company's AI Agents currently process over 1 million alert hits daily and save customers approximately 40,000 hours of manual work per day, serving 10 of the top 20 banks and leading financial institutions worldwide. After pivoting in 2022 to focus exclusively on financial crime compliance, WorkFusion has achieved 60% year-over-year growth in its AI Agent solutions while expanding its global footprint."
Financial institutions confront rising regulatory demands and increasingly sophisticated financial crime, creating a $155B financial crime compliance operations market. Manual, error-prone compliance processes generate backlogs, higher risk, and escalating costs, while high alert volumes overwhelm teams. WorkFusion builds AI Agents that automate Level 1 analyst tasks across sanctions screening, transaction monitoring, KYC refresh, fraud review, and adverse media monitoring. Its AI Agents process over one million alert hits daily and save customers about 40,000 manual hours per day, serving 10 of the top 20 banks. After refocusing on financial crime compliance in 2022, the company achieved 60% year-over-year AI Agent growth and closed a $45M growth round led by Georgian.
Read at Alleywatch
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