Franklin

<p>Singapore-based Transparently.AI has successfully secured an investment from Franklin Templeton as part of its entry into the asset manager’s esteemed FinTech Incubator program. The company, specializing in artificial intelligence <a href="https://www.cryptopolitan.com/openais-development-of-agent-software-marks/">software</a> designed to detect accounting fraud, aims to bolster its market presence and accelerate its growth trajectory, particularly in North America.</p> 
<h2 class="wp-block-heading" id="empowering-financial-vigilance-through-ai">Empowering financial vigilance through AI</h2> 
<p>Transparently.AI’s flagship software leverages machine learning algorithms to identify accounting irregularities within corporate balance sheets. By generating a comprehensive risk score ranging from 0 to 100, the platform provides insights into the likelihood and magnitude of financial manipulation within a company’s accounts.&nbsp;</p> 
<p>Targeting a diverse clientele, including asset managers, banks, auditors, and exchanges, Transparently.AI’s solution serves as a potent due diligence tool, facilitating the detection of suspicious accounting practices and bolstering corporate governance frameworks.</p> 
<p>In addition to the financial investment, Transparently.AI benefits from mentorship and guidance offered through Franklin Templeton’s extensive network of industry professionals and experts as part of the FinTech Incubator program.&nbsp;</p> 
<p>This collaborative initiative provides Transparently.AI access to invaluable resources, including workspace facilities in Singapore and San Mateo, California. Hamish Macalister, CEO and co-founder of Transparently.AI expressed gratitude for the partnership, citing Franklin Templeton’s established reputation and influence in the U.S. financial landscape as pivotal for the company’s expansion endeavors.</p> 
<h2 class="wp-block-heading" id="validation-and-growth-prospects">Validation and growth prospects</h2> 
<p>The investment from Franklin Templeton represents a significant milestone for Transparently.AI, marking its entry into a US$3 million pre-series A funding round and valuing the startup at US$20 million. Margaret King, Vice President of FinTech Partnership &amp; Corporate Strategic Investments at Franklin Templeton, highlighted the pressing need for advanced technologies in combating fraud risks amidst evolving digital ecosystems.&nbsp;</p> 
<p>She expressed optimism regarding Transparently.AI’s capacity to bridge existing financial crime risk management gaps through innovative <a href="https://www.cryptopolitan.com/ai-driven-automation-business-in-2024/">AI-driven</a> solutions.</p> 
<h2 class="wp-block-heading" id="about-transparently-ai">About Transparently.AI</h2> 
<p>Established in 2021, Transparently.AI has emerged as a pioneering force in AI-powered accounting fraud detection. Recognized for its cutting-edge technology, the company earned a coveted spot on the prestigious RegTech100 list for 2023, underscoring its commitment to innovation and excellence in regulatory technology solutions.</p>

AI Accounting Fraud Detection Software

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