WorkFusion, a fintech specializing in AI agents for financial crime compliance, has secured $45 million in funding led by Georgian. In 2022, the company transitioned from its origins in automation and intelligent document processing to focus on automating the labor-intensive tasks associated with financial compliance. Currently, its technology is utilized by major banks worldwide, including ten of the top twenty, automating over one million alerts and saving 5,000 full-time equivalents (FTEs) daily. WorkFusion claims its AI agents enhance operational efficiency, scaling capacity by 3-5 times in various job functions, such as sanctions screening and transaction monitoring. CEO Adam Famularo highlights the company’s innovation in developing AI agents tailored for specific roles, emphasizing that they save clients approximately 40,000 hours of manual labor each day. With increasing market readiness, WorkFusion is poised for significant growth in the financial technology sector.
Source link
Share
Read more