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Launch YC: Greenboard — "Rippling" for financial compliance & operations

"'Rippling' for Financial Compliance and Operations"

Fintechs, private funds, and wealth managers all use Greenboard to consolidate compliance software functionality onto a single modern platform that uses AI to detect risk and reduce tedium.

Founded by Dave Feldman & Ed Schembor

About Greenboard

Greenboard allows financial firms to consolidate financial compliance software onto a single, easy-to-use platform. Cost-savings and streamlined experience are often what drive customers to sign - but the real magic of Greenboard happens when they aggregate their customers’ relevant data onto a single platform that uses AI to detect risk faster and more reliably than previously possible.

The Problem

Financial compliance software is fragmented and bad. Maintaining compliance is hard.

In addition to paying for software, financial firms currently hire expensive consultants and large compliance teams to help maintain compliance, but this isn’t really working. Some recent examples:

Greenboard's Solution

Consolidated, human-centric software to drive a culture of compliance. AI to detect risk faster and more reliably than ever before.

Financial compliance teams today often pay for 2+ different software solutions for things like communications archiving, compliance program management, screening trades for conflicts of interest, tracking and approving marketing content, etc.

Greenboard changes this by bringing all core compliance functionality onto a single platform (starting with the compliance needs of RIAs). See for more info.

Image Credits: Greenboard

The dynamics of the space are reminiscent of HR/IT software pre-Rippling in a few ways:

  • A lot of fragmented functionality is needed on top of a core system of record. A lot of the needed functionality ultimately comes down to CRUD operations + collaborative tooling.
  • Clear sets of power users exist (compliance teams for Greenboard, HR people at Rippling) but everyone in an organization needs a login
  • Spend on software matters in non-revenue generating areas, and many organizations would love to consolidate vendors.

Humans, machines, and the future of financial compliance

A super reductive checklist on how to maintain financial compliance looks something like this:

  1. Keep detailed records of dozens of things having to do with your business, employees, and customers
  2. Examine these records and look for bad (non-compliant) things that might be happening
  3. Address the bad things that you found and put processes in place to prevent these things from happening in the future

Currently, the technology adoption rate is high for 1) and low for 2) and 3)

It wasn’t always the case that financial firms could count on cheap hard drives and cloud computing to keep records. Not long ago when filing cabinets (and file rooms) were the norm, recordkeeping required substantial resources. It turns out that computers are cheaper and better than humans at storing files by such a wide margin that there are no longer roles for file clerks in the economy.

Their thesis is that GPU-powered computational statistics will similarly transform step 2) above. Ultimately machines, not humans, will prove to be meaningfully better at examining records for potential compliance issues so compliance people can make determinations on compliance risk and mitigation.

Learn more

🌐 Visit to learn more

🗓️ If you’re a fintech or compliance leader - reach out to
the founders!

👥 Follow Greenboard on LinkedIn
February 21, 2024
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