Surge Ventures, the Menlo Park, California-based regtech venture studio, announced the expansion of its Avery platform with Fusion1, a suite of AI-enabled compliance and surveillance tools designed to streamline audit, advertisement review, attestation and code of ethics functions.
Avery is a generative AI-based regulatory management platform provided by RegVerse, Surge Venture’s first company, which aims to bring AI-driven solutions to wealth management firms.
Sid Yenamandra, Co-Founder of Surge Ventures and CEO of RegVerse, said “Automation is the new standard for compliance excellence, but the technology behind it must be a combination of AI and hands-on expert guidance. That’s what we offer, along with streamlined operations, unparalleled accuracy and unmatched efficiency.”
“Precision matters in compliance,” he stated. “We designed Fusion1 as an integral extension to the innovative and award-winning Avery platform. Fusion1 simplifies the compliance journeys of heavily regulated companies by offering them a comprehensive solution that provides the perfect blend of technology and human insight. Just like Avery, Fusion1 provides a worry-free experience for compliance professionals.”
Fusion1 is designed to streamline data and file management on one platform and create a single hub for all of a firm’s compliance-related materials. It incorporates AI-based suggestions, real-time compliance progress tracking, alerts, notifications and reporting.
Surge Ventures co-founds and invests in technology start-ups that address data and privacy needs in wealth management and other financial services areas. In April, the firm acquired data integration platform Kovair Software.
James Miller, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
