Panza, an AI-powered compliance and risk management platform, today announced a partnership with Klaros Group to strengthen compliance services for the financial industry.
ATLANTA, Dec. 18, 2024 /PRNewswire-PRWeb/ -- Panza, an AI-powered compliance and risk management platform for the financial industry, today announced a partnership with Klaros Group, a boutique advisory firm with deep expertise in bank regulation, compliance and risk management, corporate governance, and business strategy.
"We've always been committed to the highest standards of professionalism and client service," said Konrad Alt, managing partner of Klaros Group. "We're excited by the potential of emerging AI technologies to enable our subject matter experts to spend less time on foundational consulting tasks and more on the problems where they can add the most value."
"When selecting a regulatory audit partner, we sought not only industry-leading expertise but also a shared commitment to advancing the responsible use of AI in the industry. With decades of experience in risk, compliance, and governance at financial institutions, Klaros's leadership brings a unique and invaluable perspective on balancing innovation with the highest standards of security, privacy, and trust," said Panza co-founder Suresh Rajan.
Panza enables continuous and on-demand reviews of policies, marketing copy, and more, for compliance with regulations and regulatory guidance. It also monitors regulatory updates, financial news and research, continuously assessing impact on financial portfolios and balance sheets to uncover emerging risks.
Proprietary technology, SME vetted data, and security are hallmarks of Panza's multitenant platform. Panza's security features include isolated data rooms, NIST best practices, and private instance LLMs through Microsoft Azure OpenAI (which does not require data to be shared with OpenAI).
"Many of the emerging AI solutions we've reviewed at Klaros simply don't work for us because they don't adequately protect the confidentiality of client information," Alt said. "Panza is different. The Panza team shares our commitment to preserving client confidentiality; they've built a solution that we're excited to work with."
Many financial services businesses spend 10% of their revenue or more managing compliance and risk, struggling in vain to manage these areas more efficiently as they grow. Panza's AI platform, alongside its expert-driven vetting process and human oversight, should help clients find economies of scale, improving their bottom line.
Panza believes that their AI agents and training methodology, combined with expert-level feedback, delivers a level of precision and reliability that chatbots and generic AI products cannot replicate.
About Panza
Panza AI is a pioneering AI platform dedicated to revolutionizing risk and compliance management for financial institutions. By leveraging custom-trained LLMs and a user-friendly interface, Panza AI empowers financial institutions to automate regulatory compliance, reduce balance sheet risks, and transform risk analysis and mitigation workflows. For more information visit panza.ai.
About Klaros Group
Klaros Group is an advisory and investment firm focused on the future of financial services. Its principal operating subsidiary, Klaros Advisors, works with innovators and incumbents to develop and implement smart strategies to scale their businesses responsibly, in full compliance with regulatory requirements and expectations. For more information visit klaros.com.
Media Contact
Panza, Panza AI Inc., 1 540-407-2692, [email protected], https://panza.ai
Klaros, [email protected], https://klaros.com/
SOURCE Panza AI Inc.
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