Compliance in financial services has long been a costly and complex challenge, especially the Know Your Business (KYB) process. Traditionally, KYB procedures to verify the legitimacy of business clients take weeks and involve heavy manual work, leading to high expenses and slow market expansion. Under the leadership of Chaitanya Sarda, CEO and co-founder of AiPrise, this status quo is changing radically. AiPrise's innovative compliance platform harnesses automation and artificial intelligence (AI) to halve compliance costs and reduce onboarding time from weeks to mere minutes. This transformation not only saves financial institutions millions but also enables faster, more secure global business growth.
The Heavy Burden of Traditional Compliance
For financial institutions such as banks and payments companies, KYB is a mandatory regulatory process designed to prevent financial crimes like money laundering and fraud. However, the existing KYB systems are notoriously fragmented and labor-intensive, with specialists manually sifting through extensive documentation and data points to verify client legitimacy. This manual approach results in compliance timelines stretching to several weeks and operational costs climbing due to inefficiencies and errors. Additionally, these delays compromise customer experience, sometimes causing potential clients to abandon the onboarding process entirely.
Revolutionizing Compliance with AI and Automation
Recognizing these critical pain points, Chaitanya Sarda leveraged his deep technical expertise gained from leading fraud prevention projects at Google to spearhead a technology-driven overhaul of compliance. AiPrise's platform utilizes cutting-edge AI algorithms and automation to streamline every step of KYB verification. Instead of relying on slow manual review, AiPrise can instantly collect and verify over 800 business data points across more than 200 countries.
One of the platform's key innovations is its intelligent auto-fill technology, which populates complex compliance forms using only a company's name or registration number. This capability accelerates onboarding to less than three minutes—a tenfold improvement in speed compared to traditional methods. Automation also substantially reduces human error, enhancing the overall accuracy and reliability of compliance decisions.
Cutting Costs and Opening New Markets
The financial impact of AiPrise's solution is significant. By automating time-consuming compliance checks, AiPrise halves operational costs related to KYB. These savings free financial institutions to focus resources on core activities and innovation. Moreover, the rapid onboarding capability empowers businesses to expand into new geographic markets with confidence and speed, meeting increasing demand for global financial services access.
Since its founding in 2022, AiPrise has already attracted 120 paying customers, including four publicly traded companies in the U.S. market. Recent funding rounds have raised $2 million from top-tier investors such as Okta Ventures and Liquid 2 Ventures, validating the company's disruptive approach and growth potential.
A Unique Blend of Tech Vision and Operational Expertise
Chaitanya's leadership in building AiPrise is rooted in a rare mix of rigorous academic excellence and hands-on tech innovation. A graduate of India's prestigious IIT Kharagpur, where he ranked among the top 0.2% in a nationwide exam, Chaitanya honed his software expertise at Oracle before advancing to Google. At Google, he led the creation of the machine learning algorithms behind the global spam detection system for Android calls and messaging, protecting millions of users daily from fraud and scams.
This background uniquely positioned him to address compliance in a traditionally operational-heavy space—with fresh, tech-driven perspectives. His ability to translate complex AI innovation into practical, scalable business solutions drives AiPrise's mission to redefine compliance.
Shaping the Future of Compliance
As regulatory frameworks evolve and markets become increasingly interconnected, the need for efficient, reliable compliance tools grows more pressing. Under Chaitanya's vision, AiPrise is not only improving KYB but also setting new industry standards for automation, data-driven decision making, and customer experience.
By slashing compliance costs and onboarding times through intelligent automation, AiPrise is empowering financial institutions worldwide to operate more securely and competitively. Chaitanya Sarda's pioneering work at AiPrise illustrates how technological innovation can transform entrenched processes, delivering measurable business value while strengthening global financial integrity.
