- April 6, 2019
- Posted by:
- Category: venture capital funding
International Screening Solutions
"This investment will fund our current initiatives that will double our 2019 revenue from 2018, and position us for similar growth in 2020," said Founder and CEO Chuck Papageorgiou.
"We are very excited to partner up with ISS and adding them to our portfolio. The regulatory and compliance arena is a fast-growing market and ISS with its experienced management team is one of the strongest players in this market," said Mike Abbaei, Managing Partner at Naples Technology Ventures.
After significant development, ISS is adding a cognitive AI agent into its Risk screening platform to further eliminate the hassle of false positives – the number one complaint of risk screening professionals in the financial services industry. The AI virtual adjudication agent, "Aivaa" for short, is based on advanced military AI technology recently made available for commercial use and is several years ahead of announced plans by other screening firms, earning ISS a Gold Level Certification by the Cognitive Software Alliance .
Investment in sales and marketing will allow further expansion in the US, Europe and Asia, where WorldWatch Plus enjoys strong partnerships and customer relationships. Market applications include gaming, crypto-currency exchanges, and various customer onboarding scenarios, where WorldWatch Plus removes the friction often associated with mobile digital customer experiences.
WorldWatch Plus will be featured at the FinTech South exposition at Mercedes Benz Stadium in Atlanta later this month, at several anti-money laundering conferences, and at the #Pay symposium this summer.
Founded in 2007, International Screening Solutions serves background screening and due diligence firms, financial institutions, FinTech companies, insurance, and other corporate clients requiring global sanctions, PEP, adverse media and ID verifications services. Its flagship product, WorldWatch Plus, is a proprietary screening tool that searches data from thousands of sources in fractions of a second for anti-money laundering (AML) and know your customer (KYC) programs. The solution eliminates false positives to accelerate customer due diligence (CDD) processes. The company was named twice to the Inc. 5000, twice named a Top 10 KYC Solution Provider by Banking CIO Outlook, and honored as a Top 10 Innovative Company by the Technology Association of Georgia.
Naples Technology Ventures is a Venture Capital Firm dedicated to investing in and helping early stage technology and services companies with already proven transformative products and/or services that will enable market share and revenue growth while reducing the cost of doing business in the volatile global financial markets.
|05/04/2019||$1,500,000||Naples Technology Ventures, Tom Cardy||Tom Cardy|