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.
Saifr specializes in simplifying the regulatory landscape for financial entities, with a suite of solutions designed for risk, compliance, and marketing teams. The addition of GOST will expand these capabilities, providing access to advanced due diligence, risk analytics, and continuous surveillance tools.
Giant Oak brings to the table its patented GOST technology, renowned for its risk detection and mitigation prowess. This technology will complement Saifr’s existing suite, enhancing operational efficiency, alert detection, and customer screening with its leverage of publicly available information.
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.
Further, this partnership marks a significant milestone in the integration of AI into financial services compliance and regulatory frameworks, reflecting both companies’ commitment to advancing financial technology solutions.
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.
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