Latest news with #frauddetection
Yahoo
2 days ago
- Business
- Yahoo
Peraton Honored with ACCELERATE 2025 Award for Innovation in AI and Data
RESTON, Va., August 06, 2025--(BUSINESS WIRE)--Peraton has been recognized in the prestigious ACCELERATE 2025 Awards for advancing federal innovation through its Center for Forecasting and Outbreak Analytics program and Rapid Fraud Intelligence (Rapid FI) solution. Hosted by GovTech Connects, the ACCELERATE Awards celebrate exceptional achievements in deploying AI, data, and digital solutions across federal, DoD, and industry sectors to drive mission success. "Our team is deeply honored to be among the 2025 awardees," said Tarik Reyes, president, Defense Mission & Health Solutions Sector, Peraton. "Our solutions that are being recognized as best-in-class awards reflect our commitment to innovation and mission alignment—empowering agencies with the tools they need to act faster, smarter, and with greater confidence. We're proud to support our federal partners with adaptive technologies that scale with their needs." Peraton's Rapid FI platform stood out for its impact in transforming fraud detection and response within government programs. Designed with a modular architecture, Rapid FI is highly scalable and easily configurable, enabling federal agencies to tailor it uniquely to their mission requirements—whether combating benefit fraud, streamlining audit processes, or enhancing real-time risk analysis. To view the full list of ACCELERATE 2025 Award winners, visit: View source version on Contacts Lynelle Haugabrook575-323-1415lhaugab@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Tavily raises $25M to connect AI agents to the web
Companies across many industries are implementing AI agents for internal use, automating a wide range of tasks. In the financial sector, AI agents are critical for fraud detection. They can analyze vast amounts of transaction data in real time. Meanwhile, sales organizations are using AI agents to gather data on potential customers. These AI sales agents can scour the web and social media for information. To be effective, these agents need to access the internet and find information from relevant sources, all while following company policies and mirroring how a human researcher would work. Connecting an agent directly to a large language model like ChatGPT without company-specific safeguards can lead to highly inappropriate results. 'Governance, risk and compliance at the enterprise is so important now, and if you just let that happen, it's just going to be the wild, wild west,' George Mathew, managing director at Insight Partners, told TechCrunch. That's why Insight Partners led a $20 million Series A in Tavily, a startup that connects AI agents to the web in a way that's compliant with company-specific policies. The investment brings the one-year-old Tavily's total funding to $25 million. Founded last year by data scientist Rotem Weiss, Tavily began as an open-source project he created in 2023 called GPT Researcher. The consumer-focused project fetched real-time web data before ChatGPT was hooked up to the internet, Weiss told TechCrunch. 'It went extremely viral, so pretty fast we gained almost 20,000 GitHub stars.' Weiss launched Tavily after ChatGPT and other LLMs introduced web search. Unlike GPT Researcher, Tavily focuses on enterprise clients. It provides a suite of tools to companies like Groq, Cohere, MongoDB, and Writer, allowing their agents to search, crawl, and extract structured insights from both public and private sources. While most AI agents aren't yet connected to the internet, Weiss says Tavily's goal is to onboard the next billion agents to the web. Tavily is not the only startup providing search tools for AI agents. It competes with Exa, which raised a $17 million Series A from Lightspeed, Nvidia, and YC last year. Another smaller startup that offers a web search connectivity layer is Firecrawl. OpenAI and Perplexity are also offering search solutions that are geared towards independent developers. Sign in to access your portfolio
TechCrunch
2 days ago
- Business
- TechCrunch
Tavily raises $25M to connect AI agents to the web
Companies across many industries are implementing AI agents for internal use, automating a wide range of tasks. In the financial sector, AI agents are critical for fraud detection. They can analyze vast amounts of transaction data in real time. Meanwhile, sales organizations are using AI agents to gather data on potential customers. These AI sales agents can scour the web and social media for information. To be effective, these agents need to access the internet and find information from relevant sources, all while following company policies and mirroring how a human researcher would work. Connecting an agent directly to a large language model like ChatGPT without company-specific safeguards can lead to highly inappropriate results. 'Governance, risk and compliance at the enterprise is so important now, and if you just let that happen, it's just going to be the wild, wild west,' George Mathew, managing director at Insight Partners, told TechCrunch. That's why Insight Partners led a $20 million Series A in Tavily, a startup that connects AI agents to the web in a way that's compliant with company-specific policies. The investment brings the one-year-old Tavily's total funding to $25 million. Founded last year by data scientist Rotem Weiss, Tavily began as an open-source project he created in 2023 called GPT Researcher. The consumer-focused project fetched real-time web data before ChatGPT was hooked up to the internet, Weiss told TechCrunch. 'It went extremely viral, so pretty fast we gained almost 20,000 GitHub stars.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise on August 7. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Weiss launched Tavily after ChatGPT and other LLMs introduced web search. Unlike GPT Researcher, Tavily focuses on enterprise clients. It provides a suite of tools to companies like Groq, Cohere, MongoDB, and Writer, allowing their agents to search, crawl, and extract structured insights from both public and private sources. While most AI agents aren't yet connected to the internet, Weiss says Tavily's goal is to onboard the next billion agents to the web. Tavily is not the only startup providing search tools for AI agents. It competes with Exa, which raised a $17 million Series A from Lightspeed, Nvidia, and YC last year. Another smaller startup that offers a web search connectivity layer is Firecrawl. OpenAI and Perplexity are also offering search solutions that are geared towards independent developers.
Forbes
3 days ago
- Business
- Forbes
Compliance Paradox: Why Risk Management Is A Strong Growth Strategy
Leo Patching is CEO of Kompliant, helping financial firms streamline compliance and fraud detection with AI-powered workflows. In today's financial landscape, compliance is a double-edged sword. On one side, it represents an escalating cost center, an obligation to meet increasingly complex regulations under growing operational pressure. A 2023 study by LexisNexis showed that 98% of financial institutions now report rising financial crime compliance costs, creating economic and operational pressures. On the other hand, compliance holds the untapped potential to become one of the most powerful strategic assets in an organization's tool kit. Yet, despite recognition of its importance, many financial leaders still treat compliance as an afterthought, rather than the performance engine it can be. How Companies Are Approaching Compliance This contradiction came into sharp focus in a recent national survey of 500 senior financial industry executives conducted by Equifax in partnership with my organization, Kompliant. The data revealed a near-universal adoption of compliance software, particularly in areas like data privacy and risk assessment. This aligns with broader industry findings: According to the 2023 Thomson Reuters Risk & Compliance Survey, 70% of corporate risk and compliance professionals said there has been a shift away from check-the-box compliance toward more strategic, integrated approaches over the previous two to three years. But despite this widespread usage, we found organizations typically allocate less than one-third (30%) of their technology budgets to compliance and risk management. It's a classic example of underinvestment in a critical capability. The real issue isn't the lack of technology—it's how organizations think about it. Often compliance systems are bolted on to existing processes, addressed sporadically and evaluated primarily in terms of their ability to prevent penalties. What this misses is the transformative potential of compliance when integrated holistically and leveraged intelligently. Compliance can serve as more than a shield. It's a lens through which companies can build customer trust and streamline operations. In a digital economy where trust is the new currency, companies that demonstrate transparent, secure and continuous risk oversight can differentiate themselves. The Importance Of Continuous Compliance Consider the way many financial institutions still operate: Risk assessments and monitoring are performed periodically, monthly or quarterly at best. Our survey found that only 40% of firms conduct daily compliance checks, and fewer still assess risk on a continuous basis. In a world where threats emerge by the minute and regulations evolve constantly, this cadence is inadequate. Meanwhile, leaders who have embraced continuous compliance are reaping tangible benefits. They reduce fraud, accelerate onboarding, lower operational costs and increase customer satisfaction. They build resilience into the very fabric of their businesses. Other research reinforces this gap, and the upside of addressing it. According to PwC's Global Risk Survey 2023, 40% of business and risk leaders said their organization had improved its approach to risk to achieve more robust compliance with regulatory standards over the past 12 months. Among the top-performing 5% of companies, that number surged to 81%. The takeaway: Leaders aren't just reacting to compliance pressures, they're turning risk management into a source of strategic advantage. Leading From The Top Strategic adoption of compliance technology is increasingly being led from the top. More than half of the surveyed organizations said their CEO is directly involved in compliance tech decisions, signaling a shift in how these investments are viewed. No longer siloed within legal or risk departments, compliance is moving into the boardroom, and with good reason. The business case is compelling. Advanced technologies are transforming what's possible. Tools that offer real-time risk monitoring, dynamic regulatory reporting and automated decisioning allow organizations to scale efficiently without compromising security. In fact, firms that have deployed these technologies often experience gains in underwriting efficiency and customer onboarding speed, key drivers of revenue growth in today's environment. The Challenges However, one of the most significant barriers remains perception. We found 68% of survey respondents expressed concern about the security of emerging compliance technologies. This hesitation, while understandable, highlights a broader risk-averse mindset that can hinder innovation. It's essential for leadership teams to engage in due diligence, but equally important to adopt a long-term vision: Security and innovation are not mutually exclusive. With the right governance, they are mutually reinforcing. For organizations new to compliance platforms, early-stage challenges typically fall into a few categories: integration complexity, unclear ownership and resistance from internal teams. Many firms underestimate the effort required to unify fragmented data sources or legacy systems into a centralized compliance workflow. Others begin implementation without fully defining who owns the process—legal, compliance, IT or operations—leading to unclear accountability and delayed outcomes. Another common misstep is treating compliance as a static IT deployment rather than a dynamic, cross-functional capability. Platforms need to evolve alongside regulatory change, business growth and emerging risks. This requires collaboration across teams, investment in training and a willingness to revisit assumptions regularly. To overcome these challenges, companies should start by creating a clear map of their current-state compliance processes, including any gaps and redundancies. Align stakeholders early, assign executive sponsorship and choose platforms that are configurable—not just customizable—so they can scale with evolving needs. Importantly, prioritize vendors who emphasize transparency, auditability and robust security controls, helping shift the conversation from fear to confidence. A New Approach A new framework for thinking about compliance is needed, one that views it not as an annual box to check but as a continuous, value-generating capability. Financial institutions must shift from a reactive to a proactive approach, from a fragmented to an integrated one, and from compliance as an obligation to compliance as an advantage. The payoff can be significant. Organizations that make this shift could find themselves better prepared for regulatory scrutiny, more agile in adapting to market changes and more competitive in attracting and retaining customers. In this environment, compliance excellence becomes a signal to the market: This is a business you can trust. As technology reshapes finance, the complexity of managing compliance will continue to grow. But so, too, will the opportunity. Risk management doesn't have to be a tax on innovation, it can be the very foundation of it. The key lies in reimagining compliance not as a constraint, but as a tool for growth. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Finextra
31-07-2025
- Business
- Finextra
Risk management firm EverC and AWS collaborate to fight fraud
Since Q4 2024, EverC, a leading provider of AI-driven risk management solutions for digital commerce, has been working with Amazon Web Services (AWS) to support innovation. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. EverC began to integrate GenAI into their core solutions, with an eye to streamlining and scaling risk management for acquiring banks, payment processors, and online marketplaces. Leveraging AWS GenAI solutions has allowed EverC to set new industry standards in the use of AI to identify and root out online fraud. Through a multi-model approach, EverC deploys AI to: • Fully automate processes, enhancing efficiency and reducing the need for manual intervention • Classify merchants, MCCs, content, categories, and products quickly and accurately. • Add new features and functionality, for a solution that evolves dynamically. • Achieve precision comparable to human analysts, in a way that is more efficient with time, cost, and resources. • Identify novel patterns and anomalies, for a more comprehensive picture of risk. • Rapidly adjust to customers' risk tolerance and business goals, as well as changes in regulations and industry trends EverC leverages sophisticated artificial intelligence to address the intricate challenges within a complex industry. Recognizing that risk management requires tailored solutions, the company develops AI-driven technologies that are not one-size-fits-all. EverC emphasizes the crucial role of its data and domain experts, who continuously train, refine, and verify these models to ensure their ongoing effectiveness in a constantly evolving landscape. AI is considered a fundamental driver of EverC's growth and scalability. Through the implementation of automated processes, the company experiences accelerated development, reduced latency in production, and significant operational and cost efficiencies. EverC believes that AI enables exponential growth, overcoming the limitations associated with linear growth models that are dependent on the number of analysts. Going forward, EverC will continue to develop AI-driven technology to solve the increasingly complex challenges of payments and ecommerce, shifting more classification tasks into Gen-AI based on AWS Bedrock, testing and evaluating various models, and building agentic systems for proactive, complex, and autonomous systems. Working together with AWS will allow EverC to remain in the forefront of AI-driven technological advancements but also aligns with AWS's mission to promote the use of Generative AI to support innovation worldwide. EverC is proud to promote its utilization of GenAI, which has significantly transformed its processes – and its products.
