Viewing profile — rhimshah

Decision making is also more accurate, human analysts often deviate from procedure. Also why banks/fintechs often spend so much on QA teams just to observe how the human analysts h…

You know this space very well whiplash451! Thank you for the contributions. (nothing more for me to add here :) )

Yup very true! Traditional banks are far more risk averse and generally have larger budgets for compliance. Whereas fintechs/neobanks have smaller budgets for these things as most …

That's shocking! I guess regulators haven't loosened up in Sweden. Curious how a business plan is relevant for opening a bank? (loans make sense ie feasibility/risk to repay etc.).…

Yup exactly that! One of the benefits of what we're building is that fintechs/banks can now approve good customers quicker. So the innocent ones benefit greatly from Arva.

It's a great point, but I'm afraid this is what the regulators enforce onto the banks/fintechs, out of our hands!

Thanks for the comment! Each review doesn't count as a single business entity, there are several checks within a business case which each require manual review. Plus often there is…

It would hold up with the regulator as each decision and outcome is stored and has explainability, so it is in fact even more auditable than a human!

Depends on the fintech! 99% don't have 100% automation for all low/medium risk.

Not quite! Fintechs often still have humans review docs, websites, perform web due diligence etc. Efficacy has vastly improved at these validation steps with the assistance of LLMs…

Yes rightly pointed out, the regulators are the ones that crack down/fine/impose restrictions. I'd say there are varying levels of automation, where even to this day within low/med…

Thanks for the insights! It is certainly a tough balance for banks/fintechs -- fear of accountability vs. a clear value add. From our interactions, using AI to automate low/medium …

Yup! Arva can be integrated into current compliance stacks!

Thanks! aha almost is!

Yes exactly! It still astounds me how much human manual work is required in the space, and it really impacts customer experience from the longer onboarding times! Thanks!!

Hi HN! We’re Rhim and Oli, and we’re building Arva AI ( https://arva-ai.com ). Arva uses an AI agent to automate the manual verification that every banking/fintech does when they g…