Steele Announces Acquisition of TransparINT
June 25th, 2018
Steele Enhances Artificial Intelligence Capability with Acquisition of TransparINT
SAN FRANCISCO–(BUSINESS WIRE)— Steele Compliance Solutions, Inc. (“Steele”) today announced its acquisition of TransparINT, a leading technology company harnessing artificial intelligence (“AI”) technology to provide the next generation of compliance tools.TransparINT’s negative news monitoring application uses machine learning and natural language processing (“NLP”) to filter vast quantities of unstructured data from millions of sources to identify risk potential efficiently. This acquisition creates a unprecedented combination of software technology and human + artificial intelligence, all designed to deliver an industry-leading set of compliance and risk mitigation tools.
TransparINT’s proprietary AI engine harnesses over 5 million sources to compile risk records on over 43 million entities and individuals across 120 countries. As the most comprehensive risk profile database in the industry, TransparINT enables compliance officers to far more accurately and efficiently make risk decisions than those relying on conventional data searches or databases.
“As the role of compliance officers continues to expand, they are increasingly looking to technology as a means of effectively managing the expanding regulatory requirements they face globally,” said Eric Lochner, CEO of Steele. “Steele sees the combined role of technology, human intelligence and employee training as the future of enhanced compliance. The addition of TransparINT’s market-leading artificial intelligence coupled with Steele’s software and investigation expertise will give our clients the resources they need to proactively address changing regulatory and reputational risks”.
“We are thrilled to broaden the reach of our capabilities and to be joining the Steele family,” said Keith Graham, CEO of TransparINT. “With TransparINT’s deep experience with Financial Institutions coupled with Steele’s breadth of experience with large global corporations, we can continue to innovate best-in-class products for the broader compliance community.”
TransparINT (https://www.transparint.com) is a full-service technology company focused on providing the next generation of financial crime compliance tools. TransparINT’s innovative search and monitoring platform leverages machine learning and natural language processing to provide financial institutions with a unified tool to protect their organizations from regulatory and reputational risks. The TransparINT platform is currently used in 4 of the top 10 US banks and globally by thousands of AML and Financial Crime professionals.
About Steele Compliance Solutions
Steele is your best source for smarter business decisions, offering configurable compliance solutions that will help you to thoroughly evaluate and mitigate potential risks. With products and services that incorporate industry leading artificial intelligence, automation, and human diligence, we partner with our clients to help them to not only understand the world of the people they do business with but to arm employees with the right tools and information to continue to make ethical decisions. At Steele we believe we are smarter together – with the right combination of data, technology and people, we can change the world for the better. For additional information regarding Steele’s suite of risk management tools, call +1.415.692.5000, email email@example.com, or visit us at www.steeleglobal.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $1.7 billion in committed capital. Founded in 2012, the firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $30 million to $150 million per transaction into both control and non-control positions and will make equity and/or debt investments. Targeted sectors include software, digital infrastructure, healthcare IT services, business and consumer services, and financial technology/specialty finance. For more information, please visit www.sagemount.com.