Fourthline, an AI-powered platform for detecting fraud and other abuse in finance, announced that it secured €50M ($54M) in funding.
The Amsterdam-based startup offers AI-driven solutions for identity verification and more in banking and financial services.
- Fourthline's
cloud platform aims to make it easier for banks to verify the
identities of new users and detect fraud and other issues.
- Its AI models are capable of processing 3,500 types of documents to search for evidence of fraud and other abuse.
- After the initial onboarding, it continues to monitor user accounts for malicious activity.
- Fourthline
says its proprietary tech products help banks secure KYC (Know Your
Client), AML (anti-money laundering), and GDPR compliance. Its notable
clients include NN, Wish, N26, and Western Union.
- The latest capital Finch Capital and other unidentified investors will allow Fourthline to expand its operations and speed up growth.
