The AI agent is primarily used to extract information from documents, crawl websites, and identify specific fraud signals. It can also be used to evaluate proof documents, websites, web presence, and social profiles. The system is designed to be more auditable than a human, and every decision and outcome is stored and has explainability. The company is considering self-hosting open-source models in the future.
Key takeaways:
- Arva AI is a startup that uses AI to automate the Know Your Business (KYB) process, which is a regulatory requirement for banks and fintechs to verify the legitimacy of their business customers.
- The AI agent follows the same steps a human compliance analyst would, documenting each decision and outcome for auditability. This can reduce the need for manual review and speed up the onboarding process.
- While some users expressed concerns about the potential for job loss due to automation, the founders argue that the AI frees up human analysts to focus on more complex, high-risk cases.
- Arva AI uses Gemini for its AI model due to its stronger guarantees around not training on user data, and is considering self-hosting open-source models in the future.