Greenlite, a startup using generative AI to vet bank and fintech customers for compliance with anti-money laundering safeguards, has secured $4.8 million in seed funding led by Greylock and Y Combinator. The platform acts as a co-pilot for compliance analysts, recommending whether a customer can be banked based on public databases and information collected by financial services firms. The AI-generated reports are charged per API call, focusing on cases where human involvement is traditionally high, with a robust audit log addressing concerns around transparency and regulatory compliance.
Anti-money Laundering Startup Greenlite gets $4.8 million
