DAVIE, Fla., August 9, 2022 /PRNewswire/ — BHG VC, the corporate venture capital arm of BHG Financial, is pleased to announce its investment in Effectiv, a leading fraud prevention and financial crime management company.
BHG VC’s investment in the company comes after a successful partnership was established between Effectiv and BHG Financial. By implementing Effective’s solutions, BHG Financial experienced cost savings in excess of 2 million dollars and significant efficiency gains of 70% were observed.
BHG VC announces investment in fraud prevention and financial crime management company, Effective
Effectiv is a fraud prevention and financial crime management platform that provides financial institutions with the technology and support they need to securely onboard customers and safeguard their assets in a digital and post-pandemic era. Built by experts in the fields of compliance, fraud and technology, Effective’s solutions are uniquely designed with a deep understanding of the global financial landscape. Powered by a combination of human-centric technology and AI, Effective’s solutions quickly detect patterns and anomalies to protect account holders and facilitate a frictionless onboarding process.
Recognizing the growing importance of staying ahead of evolving financial crime, BHG VC’s investment demonstrates its commitment to supporting promising companies with more than just capital. “We are proud to partner with Effectiv and further support financial institutions across the country,” he said Mixa Polovnev, VP of Corporate Development. “Our parent company, BHG Financial, has been serving banks since 2001. We understand their needs and find that Effectiv provides a comprehensive platform for financial institutions to navigate fraud and minimize costs.”
Built by a team that helped companies like USBank, Chime, Google, PayPal and Walmart manage fraud and risk, Effectivev’s solutions leverage hundreds of industry-leading data sources and enable financial institutions of all sizes sizes establish customized solutions based on your unique needs. With built-in machine learning capabilities and ML model plug-ins, it makes it easy for financial institutions to harness the power of ML to achieve their automation goals.
“Our relationship with BHG VC has been very positive,” he said Ravi Sandepudi, CEO of Effective. “His leadership team’s guidance and financial industry experience have been invaluable in helping us scale our operations. We’re excited to continue working together to provide financial institutions with the support they need to manage fraud and risk in this constant change. environment.”
Effectiv joins BHG VC’s fintech-focused portfolio companies operating in subsectors ranging from specialty loan origination and fraud prevention to digital banking and more. Through these partnerships, BHG VC aims to strengthen financial institutions and fintechs while empowering leaders in financial services.
About cash
At Effectiv, we aim to empower the genuine needs of financial institutions for effective fraud prevention and compliance management that are future-proof and use human-centric technology with the perfect blend of AI. With the support of leading investors, advisors and industry experts, we are helping financial institutions stay ahead of fraud and comply with today’s dynamic and digital world. To learn more about Effectivev, click here.
About BHG VC
BHG VC is unleashing rapid growth in the fintech space by investing capital and providing strategic resources to exceptional entrepreneurs with revolutionary ideas. Powered by BHG Financial’s superior data and expertise, BHG VC uses a unique partnership investment methodology to elevate tomorrow’s fintech leaders today.
For more information on BHG VC, click here. Learn more about the company’s financial solutions at https://bhgfinancial.com. Follow BHG at LinkedIn, Facebook, Instagrami Twitter.
Contact with the media:
Jasmine Heard
[email protected]
SOURCE BHG Financial; BHG VC
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