Source: FinTech Futures
The round drew participation from existing investors, including StageOne Ventures and The Garage, and was joined by Amex Ventures as a new investor.
With a total of $22 million in funding secured, Sedric says it will apply the proceeds from its latest round to develop its AI lab, situated in Tel Aviv, and “expand its global go-to-market teams”.
The Sedric platform leverages large language models (LLMs) to help financial institutions manage regulatory compliance, risk and communication monitoring. Proving a holistic view across multiple channels and customer touchpoints, the LLMs are “customized to an organization’s unique requirements, automating policy enforcement, mitigating deviations, and streamlining audits,” Sedric states.
“For financial institutions, compliance and growth can be seen as two competing priorities,” said Sedric co-founder and CEO, Nir Laznik. “With our compliance LLM, we turn risk into a growth opportunity,”
“Enterprises now have an opportunity to implement a proven, bank-ready solution that is successfully operational and already widely adopted across the financial services industry.”
Read the full article here: https://www.fintechfutures.com/2024/09/llm-powered-compliance-platform-sedric-ai-secures-18-5m-series-a/
