Effective, a San Francisco, CA-based fraud prevention and financial crime management platform provider, received an investment from BHG VC, the corporate venture capital arm of BHG Financial.
The amount of the deal was not disclosed. BHG VC’s investment in the company comes after a partnership was established between Effectiv and BHG Financial. By implementing Effectiv’s solutions, BHG Financial experienced cost savings in excess of $2 million and saw significant efficiency gains of 70%.
Led by Ravi Sandepudi, CEO, Effective provides a fraud prevention and financial crime management platform for financial institutions to securely onboard customers and safeguard their assets in the digital age. The company’s solutions, powered by a combination of human-centered technology and AI, quickly detect patterns and anomalies to protect account holders and facilitate a frictionless onboarding process.
With built-in machine learning capabilities and ML-model connectors, Effective makes it simple for financial institutions to leverage ML to achieve their automation goals.
FinSMEs
13/08/2022