WorkFusion, a fintech specializing in AI agents for financial crime compliance, has successfully raised $45 million in a funding round led by Georgian.
In 2022, WorkFusion shifted its focus from automation and intelligent document processing to developing AI agents designed to automate the manual, error-prone, and document-heavy tasks associated with financial crime compliance operations.
Currently, its technology is utilized by various banks worldwide, including 10 of the top 20 banks, automating over one million alert hits and saving the equivalent of 5,000 full-time employees each day.
The company asserts that its AI agents significantly reduce manual labor and enable financial crime compliance (FCC) teams to increase their capacity by three to five times in various tasks, including sanctions screening, adverse media monitoring, transaction monitoring investigations, onboarding, Know Your Customer refresh, enhanced due diligence/high-risk reviews, and fraud alert assessments.
Adam Famularo, CEO of WorkFusion, states: “We were one of the first technology companies to focus on creating AI Agents tailored to specific job roles within particular industries. Our pre-built AI Agents are currently saving customers approximately 40,000 hours of manual work each day—tasks that humans struggle to perform tirelessly, at scale, and with exceptional quality.
“This is just the beginning. We are well-positioned for substantial growth as the market moves towards widespread adoption.”