AiPrise Revolutionizes KYB Process with AI-Driven Solution

Chaitanya Sarda, CEO of AiPrise, has transformed the Know Your Business (KYB) process by leveraging artificial intelligence to streamline financial compliance. The AI-driven solution accesses over 800 business data points across more than 200 countries, significantly reducing the time required for businesses to undergo onboarding.

The KYB process is essential for ensuring that companies meet regulatory standards and operate legitimately. Traditionally, this process has been cumbersome, often taking weeks or even months due to manual checks and fragmented systems. Sarda recognized the inefficiencies in these methods and set out to create a more efficient system.

Background and Vision

Sarda’s journey began at IIT Kharagpur, one of India’s premier technical institutes, where he excelled among a competitive cohort. His professional path included significant roles at Oracle and Google, where he led projects focused on advanced fraud detection. At Google, he developed machine learning algorithms that successfully blocked millions of spam calls daily and contributed to the development of a global caller ID system. These experiences honed his understanding of how technology can combat fraud and facilitate automation in complex processes.

Drawing on his expertise, Sarda founded AiPrise with a mission to replace outdated and fragmented KYB systems with a unified, AI-powered platform. The innovative solution enables rapid onboarding of businesses worldwide, enhancing both speed and accuracy.

Streamlining the Onboarding Process

Traditionally, onboarding new businesses through KYB has involved extensive paperwork and manual verification, often leading to operational inefficiencies and increased costs. AiPrise addresses these challenges by automating the verification process, reducing onboarding times from weeks to mere minutes.

The platform employs intelligent auto-fill technology, allowing users to complete complex forms simply by entering a company’s name or registration number. This innovation not only accelerates the process but also minimizes human error, resulting in more accurate outcomes. Financial institutions benefit from significant cost savings and improved operational efficiencies, while businesses gain quicker access to global markets.

AiPrise’s impact is already evident, with over 120 paying customers globally, including four publicly traded companies on US stock exchanges. These clients have reported the platform’s effectiveness in facilitating secure expansion into new geographies without compromising compliance.

Furthermore, AiPrise’s credibility has been reinforced by its selection for the prestigious YCombinator accelerator program, where it secured $2 million in seed funding from prominent investors such as Okta Ventures and Liquid 2 Ventures. This backing highlights the potential of AiPrise’s technology and the vision of its team to revolutionize the KYB landscape.

Sarda remains committed to leading innovation in an industry often resistant to change. He actively promotes the integration of AI and automation in compliance, sharing insights on navigating the challenges of KYB through his published research on language-based fraud detection.

From his early days combating spam at Google to pioneering an AI-driven solution for KYB at AiPrise, Chaitanya Sarda exemplifies relentless innovation. His platform not only changes the way businesses are verified and onboarded but also sets a new global benchmark for speed, trust, and security in financial compliance.