Merlon Intelligence offers an AI-driven platform that flags and ranks risky transactions for banks to detect and prevent money laundering. The system crawls PDFs and other unstructured text to build a graph of financial and contextual knowledge, and a natural language processing layer enriches that data for predictive models. Those predictive models output ranked suspicious-activity scores that human analysts review, and analysts' feedback is used to improve the system over time. Merlon charges banks on a per-seat basis and uses anonymized bank data to improve performance without exporting customer data. The company ran a proof-of-concept with a major bank that resulted in a seven-figure deal converted to a contract in about a year, and it is about to close its second bank. Founder Bradford Cross said scaling the sales process is a key challenge and the team aims to add one bank per quarter as it grows. Cross positions Merlon against legacy players like Oracle and LexisNexis and newer entrants such as Palantir.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

May 2017