Source: FintechGlobal
Saifr has announced its strategic acquisition of GOST, an artificial intelligence (AI) platform from Giant Oak.
Both companies play pivotal roles in the financial services sector, with Saifr emerging from Fidelity Investments to offer cutting-edge regulatory technology (RegTech) solutions. Giant Oak stands out for its expertise in AI, focusing on adverse media screening and monitoring to support financial institutions.
The acquisition aims to enhance Saifr’s RegTech offerings, addressing the increasingly complex regulatory demands faced by financial institutions. Although the financial terms of the deal remain undisclosed, the collaboration is set to introduce new capabilities in regulatory intelligence, risk management analytics, and continuous monitoring.
This acquisition is a strategic move for Saifr, positioning it to better meet the evolving needs of the financial services industry. It builds on Saifr’s reputation for innovation, highlighted by its win of the 2023 RegTech Insight Award for Best AI Solution for Regulatory Compliance and its recognition in the AIFinTech100 and RegTech100 lists by FinTech Global.
Saifr CEO Vall Hèrard expressed optimism about the acquisition, stating, “This acquisition uniquely positions Saifr to address the changing needs of financial services, making it easier for firms to spend more time doing what matters most for their businesses.” Giant Oak’s CEO and co-founder, Gary M. Shiffman, PhD, also highlighted the potential for accelerated development of innovative solutions for financial institutions facing compliance and regulatory challenges.
Read full article: https://fintech.global/2024/02/23/saifr-acquires-gost-to-enhance-regulatory-solutions-amidst-growing-risks/
