Sardine raised $70 million in a Series C funding round.
The mentioned company intends to spend the money received on expanding its artificial intelligence risk platform for fraud, compliance, and credit underwriting. The funding round was led by Activant Capital.
Sardine chief executive officer Soups Ranjan said on Tuesday, February 11, that the mentioned funding will accelerate the mission of the firm aimed at rebuilding trust in financial services. According to him, the company is expanding its enterprise capabilities, growing globally, and advancing its artificial intelligence agent platform.
The press release, which was published on Tuesday, contains information that Sardine uses device intelligence, behavior biometrics, and machine learning to stop fraud in real time, streamline compliance, and unify data across risk teams. The company has profiled 2.2 billion devices.
It was also noted in the press release that artificial intelligence agents use resources to automate highly repetitive but mission-critical tasks such as clearing transaction alerts, verifying onboarding cases, and investigating fraud rings.
By deploying the mentioned agents, financial institutions can scale their compliance efforts efficiently, reduce onboarding delays that can lead to lost customers, resolve alerts faster, and mitigate the risk of lawsuits from customers who think they’ve been unfairly denied financial access. The relevant information is contained in the press release.
Sardine also announced that it has added four new AI agents, including a know-your-customer (KYC) onboarding agent that streamlines onboarding. A sanctions screening agent will help teams review sanctions. A merchant risk agent automates risk scoring and credit decisioning for merchants. A disputes agent handles the entire chargeback and dispute process.
It’s worth noting that against the background of the active development of artificial intelligence, the issue of cybersecurity has become more urgent. Scammers also have access to AI tools. The use of artificial intelligence has made their activities more sophisticated. To counteract the corresponding threat in the cyber environment, personal awareness of users is important. For example, an Internet search query such as how to know if my camera is hacked will allow anyone to get information about signs of unauthorized access to the device. Digital literacy is an effective tool for countering cybercrime.
