When she worked for Apple, Kalyani Ramadurgam’s job was to block anyone on terrorism watch lists from using Apple Pay. Even at one of the most sophisticated technology companies on the planet, she was shocked that the compliance process—making sure that the company was obeying financial laws and regulations—was still analog and tedious. “It meant reading through not just hundreds, but thousands of pages of documentation,” she says. “Organizations were just throwing bodies at the problem.” In 2023, Ramadurgam founded Kobalt Labs to bring compliance into the machine-learning age. Kobalt’s AI models sort through mountains of documents to help banks vet their business partners, ensuring they’re following the rules, like halting money transfers from sanctioned countries and promptly disclosing security breaches. Her startup has raised $13 million and has more than 20 customers, including fast-growing fintech company Bilt and Celtic Bank.<br /><br />Read the full story on Forbes: <br /><br />Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br /><br />Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br /><br />https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br /><br />Stay Connected<br />Forbes newsletters: https://newsletters.editorial.forbes.com<br />Forbes on Facebook: http://fb.com/forbes<br />Forbes Video on Twitter: http://www.twitter.com/forbes<br />Forbes Video on Instagram: http://instagram.com/forbes<br />More From Forbes: http://forbes.com<br /><br />Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
