Kobalt Labs modernizes third party diligence for fintechs and financial institutions. Within minutes, sync with any regulation, find risks in documentation, scan for negative news on a third party, and set up seamless relationship management and ongoing monitoring. Kobalt enables your team to strengthen diligence, minimize compliance costs, and scale operations without scaling headcount. Founding team from Stanford, Apple Pay, and Affirm, and well-capitalized and advised by YCombinator and a network of banking executives and former regulators. Learn more at https://www.kobaltlabs.com/
Kobalt Labs的外部链接
US，New York
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The #US Department of Justice ( #DOJ ) has updated its Evaluation of Corporate Compliance Programs with a focus on several areas including #ThirdParty #RiskManagement, #Risks associated with #AI as well as Policies & Procedures. https://lnkd.in/ggfYDhCq
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Very informative podcast episode released yesterday on the interplay between banks/fintechs/regulators. "Regulators Escalate Focus on the Risks of Bank Relationships with Fintechs and Other Third Parties" Thank you Branan Cooper for recommending it to me!
"As banking becomes increasingly headless, banks will have to compete on things like data, analytics, forecasting, fraud and compliance -- not all are competencies at this time, so partnerships will be key."
My biggest takeaways from the Innovation in Payments & Treasury Management Banker Breakout Sessions at the JAM FINTOP Summit: -Major effort to reduce business check usage through a combination of pricing (charging >$0 to process something that costs the bank $10) and technology (routing payments to other channels behind the scenes with an orchestration platform). -Real-time payments are inevitable but not immediate. There are numerous monetizable use cases for real-time payments but until there are more senders and businesses (and their bankers) understand the utility, we are unlikely to reach a tipping point on adoption soon. A banker mentioned that some customers have even requested turning it off because the customer isn't equipped to handle transactions over weekends/holidays. -William Demchak was recently quoted as saying that Open Banking will cause big banks to "drain [small] banks of accounts." Bankers weren't dismissive, but skeptical: 1) why now when big banks have been attempting this for decades and don't even fully capitalize on the data within their own 4 walls? and 2) there's an opportunity for the opposite given big banks will have to comply with Section 1033 years before smaller banks. Still, banks need to be prepared to compete on technology and user experience, likely through API-connected partnerships (and more cost-effective webhooks!). -As banking becomes increasingly headless, banks will have to compete on things like data, analytics, forecasting, fraud and compliance -- not all are competencies at this time, so partnerships will be key. -Is Open Banking just the beginning? Might we eventually see bank account and routing number portability, similar to what the FCC mandated with phone numbers? Side note: might investigating the impact of phone number portability on that industry be a good analog for open banking?
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Thought leader and (F)influencer at intersection of consumer finance and technology helping fintechs, banks and credit unions make optimal decisions. Podcast host, public speaker, startup advisor, mentor and coach.
[NEW PODCAST EPISODE] ?????? We are thrilled to share the latest episode of the podcast, "Banking on Information," hosted by Rutger van Faassen, featuring startup co-founder Kalyani Ramadurgam of Kobalt Labs. In this episode, Rutger and Kalyani dive deep into his WHY, WHAT, and HOW of using AI for third party diligence. Join us as we explore the approach and insights Kalyani brings to the table, helping financial institutions with making onboarding new partners easier and faster by using AI for the diligence process. Whether you're a finance professional or just curious about the future of banking, this episode is packed with valuable information and thought-provoking discussions. ?? Listen now on the Informationbanker’s YouTube channel and stay tuned for more episodes that will challenge the status quo and inspire change in the financial services industry. You can find this and future episodes here: https://lnkd.in/e7m8G24x #engage #Podcast #BankingOnInformation #AI #ThirdPartyDiligence #AIplatform #speedtorevenue #RiskandCompliance #Innovation #Finance #Informationbanker Informationbanker Kalyani Ramadurgam Kobalt Labs? Lou Carlozo Ronald van Loon Sam Boboev Marcel van Oost Shaun Richardson Kris-Ann Carduff, M.S. Jackie Risley, MBA Lionel Guerraz Timothy Li Alpesh Doshi Theodora Lau Tiffani Montez Lindsay Burkhalter Rick Flack Dan Cone Xavier Gomez Nick Young Rogan Vleming Julie Muhn Arcady Lapiro Khurram Khalil Cyrus Taheri Tarique Khan Thinkers360 Dmitry Norenko Andrew Davidson
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It was a pleasure speaking on a panel about AI + Risk alongside Amber Gravius, Chief Data Officer of the NCUA. At the Large CU Summit last week in DC, we answered urgent questions from Credit Union leaders about how to safely adopt AI, and shifted the discussion from "should we" to "how can we do this safely". A few key takeaways that folks resonated with: 1. Start with the back office Many leaders shared concerns about deploying new automations in customer and member-facing workflows, given the obvious risk. What resonated with the audience was the idea to begin streamlining the most urgent back-office operations first, allowing leaders to explore the incredible ROI while getting comfortable with AI-assisted workflows. (check out Kobalt Labs) 2. AI enablement vs replacement We discussed the concept of using AI to give existing teams superpowers rather than seeing it as a tool to completely replace the very important and strategic humans in the loop. Technology should enable teams to do more thorough, high-quality, and efficient work and doesn't need to be seen as a threat. 3. Harm reduction AI-powered tools can make mistakes, just as purely manual processes frequently lead to human errors. It's about which option is more accurate, more resilient WHEN errors occur, and more likely to detect and remediate gaps. This is why all of our automated outputs come with a severity score. Thank you to America's Credit Unions, aka NAFCU (National Association of Federally-Insured Credit Unions) + CUNA Mutual Group for inviting me to share my thoughts in front of your members! Amy Mertz Brown Sarah Hunt Trish Shermot, CME, CUDE Lance Davies Kendall Stensvad Jennifer Echtle CIA, CFE, CRMA Faith Anderson Andrew Morris Jim Nussle
Our CEO Kalyani Ramadurgam shares her takeaways after speaking to Credit Union Executives at the Large CU Summit hosted by America's Credit Unions.
It was a pleasure speaking on a panel about AI + Risk alongside Amber Gravius, Chief Data Officer of the NCUA. At the Large CU Summit last week in DC, we answered urgent questions from Credit Union leaders about how to safely adopt AI, and shifted the discussion from "should we" to "how can we do this safely". A few key takeaways that folks resonated with: 1. Start with the back office Many leaders shared concerns about deploying new automations in customer and member-facing workflows, given the obvious risk. What resonated with the audience was the idea to begin streamlining the most urgent back-office operations first, allowing leaders to explore the incredible ROI while getting comfortable with AI-assisted workflows. (check out Kobalt Labs) 2. AI enablement vs replacement We discussed the concept of using AI to give existing teams superpowers rather than seeing it as a tool to completely replace the very important and strategic humans in the loop. Technology should enable teams to do more thorough, high-quality, and efficient work and doesn't need to be seen as a threat. 3. Harm reduction AI-powered tools can make mistakes, just as purely manual processes frequently lead to human errors. It's about which option is more accurate, more resilient WHEN errors occur, and more likely to detect and remediate gaps. This is why all of our automated outputs come with a severity score. Thank you to America's Credit Unions, aka NAFCU (National Association of Federally-Insured Credit Unions) + CUNA Mutual Group for inviting me to share my thoughts in front of your members! Amy Mertz Brown Sarah Hunt Trish Shermot, CME, CUDE Lance Davies Kendall Stensvad Jennifer Echtle CIA, CFE, CRMA Faith Anderson Andrew Morris Jim Nussle
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AI-powered tools help banks meet financial goals with ease and boost customer satisfaction, PYMNTS reports. Partnerships between banking and AI companies, like ours with Kobalt Labs, allow banks to stay ahead of regulatory pressures and manage third-party risk and compliance. https://bit.ly/3z6RDgI
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“Compliance costs are a big consideration for banks as they weigh the investments associated with embedded banking,” Kyle Costello, head of partnerships at Treasury Prime, tells PYMNTS. Our partnerships empower banks with modern tools to streamline #compliance processes and third-party risk management. Today, Kobalt Labs joins the Treasury Prime Partner Marketplace to deliver its compliance-focused AI copilot to our bank customers. Read more: https://bit.ly/3WRN7uu
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RegTech Analyst news you can't afford to miss from yesterday ?? Exploring AI’s impact on anti-money laundering efforts globally ?? Nucleus Security bags funding to enhance federal cyber solutions ?? Treasury Prime and Kobalt Labs partner to revolutionize AI compliance in banking ?? Survey finds firms treat CSDDD as mere compliance, not sustainability driver Saifr Allison Lagosh Pui Chi Wong Veronica Leger Steve Carter Kyle Costello Sarah Mirsky-Terranova, Esq, CFE
Kobalt Labs转发了
Treasury Prime Partners with Kobalt Labs to Enhance Compliance for Banks Learn more & get our take ?? https://lnkd.in/gHGq_enS “Compliance costs are a big consideration for banks as they weigh the investments associated with embedded banking. By partnering with Kobalt Labs, we’re enabling our bank clients to access new capabilities for third-party risk management compliance as they scale their BaaS programs.” — Kyle Costello, Head of Partnerships at Treasury Prime “Initial benchmarking shows that our platform boosts internal diligence capacity by over 4 times, increases real-time regulatory coverage and aligns with evidence required during audit periods.” — Kalyani Ramadurgam, Co-founder at Kobalt Labs “Kobalt accelerates my manual workflow and reduces the time to meet ever-changing regulatory obligations.” — Sarah Mirsky-Terranova, Esq, CFE, Kobalt Labs advisor and former Chief Compliance Officer at Synctera and POSaBIT #partnerships #banks #SoFNews