- Giant Oak solution uses artificial intelligence, behavioral science to help customers screen, monitor, and vet against security risks
- Acquisition will enable Saifr, a Fidelity Investments® company, to accelerate innovative solutions for financial institutions navigating compliance and regulatory challenges
BOSTON, February 20, 2024 – Saifr®, a compliance solutions provider created by Fidelity Investments®, today announced the acquisition of capabilities from Giant Oak. Saifr will acquire GOST, an artificial intelligence platform for adverse media screening and monitoring that serves financial institutions. Terms of the acquisition were not disclosed.
Giant Oak’s GOST technology platform will expand Saifr’s suite of regulatory technology solutions, which aim to simplify the complex regulatory landscape for risk, compliance, and marketing teams in the financial industry. With this addition, financial institutions will have access to new capabilities across regulatory intelligence, due diligence, risk management analytics, and continuous monitoring.
“Financial institutions continue to seek ways to address regulatory, compliance and data security challenges,” said Vall Hèrard, CEO of Saifr. “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.”
Gary M. Shiffman, PhD, CEO and co-founder of Giant Oak said, “Together, the capabilities of Saifr and Giant Oak will accelerate the development of new and innovative solutions for financial institutions as they navigate compliance and regulatory requirements amidst rising industry risks.”
Giant Oak’s solution, which holds multiple patents, offers best-in-class risk detection and mitigation and will add screening technology leveraging publicly available information to Saifr’s suite of capabilities, in addition to improved operational efficiency, alert detection, and customer screening. The technology complements Saifr’s regulatory solutions, including recent launches of risk interpretation and suggested language AI models to accelerate compliant content creation.
Saifr won a 2023 RegTech Insight Award for Best AI Solution for Regulatory Compliance and was recognized by FinTech Global as one of the AIFinTech100 and the RegTech100. The company was launched in 2020 by Fidelity Labs, Fidelity Investments’ in-house software incubator and digital studio. Fidelity has been integrating AI into its work for close to a decade, building discipline into machine learning use cases that are grounded in driving the best associate and customer experiences.
About Saifr
Saifr, a RegTech incubated in Fidelity Labs, uses advanced artificial intelligence (AI) to simplify the complex regulatory landscape for compliance and marketing teams in the financial services industry. Drawing from a vast repository of expert-validated, industry-specific data, Saifr’s AI is uniquely able to help detect and correct compliance risks. Our deep-learning AI models help streamline content creation, approval, and filing processes while simultaneously mitigating regulatory, reputational, and brand risks. Our solutions save time, reduce costs, and improve accuracy, allowing professionals to navigate the regulatory intricacies more easily and confidently. Learn more at https://saifr.ai and follow us on LinkedIn®.
About Giant Oak
Giant Oak is a leader in the application of artificial intelligence and machine learning for the compliance and risk needs of business and government. Giant Oak was created to combine behavioral social science and computer science methodologies to build big data tools that combat criminal activities. The Giant Oak team integrates behavioral scientists, software engineers, and security experts to bridge the gap between the technology needed to store and process data and the ability to extract meaningful knowledge from it for front line analysts. Learn more at https://www.giantoak.com/.
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