Shiboleth, described as an AI-powered compliance platform, has emerged from stealth mode.
A Y Combinator startup, the company has raised $1.5 million, according to a release.
Shiboleth said that it is live with customers and “experiencing high demand” for proofs displaying compliance tech from financial firms and Fintechs.
Esty Scheiner, co-founder and CEO of Shiboleth, says they are bringing automation to compliance, similar to what security teams have down. The platform “doesn’t just automate compliance but makes it transparent, explainable, and audit-ready from day one.”
Scheiner co-founded the firm with CTO Bivu Dhungana.
COO Eugene Shvartsman previously worked as Chief of Staff and Head of Government Affairs at Cross River Bank.
Shiboleth says it seeks to enable financial institutions to stay ahead of evolving regulations. Consumer lending is a highly regulated industry, and most current audit processes are manual.
Its description on Y Combinator explains that “Shiboleth automates consumer lending compliance for financial institutions using AI. Banks like Cross River Bank use us to save months of manual work by automating audits and drafting reports for the governments.”
