"Automate back office QA and Compliance for consumer lending."
Enabling lending compliance teams to audit customer service chats with AI. Lending companies use the platform to flag compliance violations for customer interactions and create the first drafts of the reports for the government.
Founded by Esty Scheiner and Bivu Dhungana
❌ The Problem:
Consumer lending is very litigious and consequently, it is heavily regulated: agencies such as CFPB, FDIC, and OCC impose a lot of intentionally ambiguous regulations. Currently, the audits are extremely manual. Even with a large team of auditors, they can only check a fraction of the calls—sometimes as low as 2% which means that violations can be missed. Often, there is “just enough ambiguity” that the calls and communication warrant manual reviews. This is problematic because an internal audit system might not suffice for compliance purposes.
🤔 How does it work?:
Shiboleth automatically flags compliance violations in customer interactions. It does this by syncing with the companies' runbooks, using advanced LLMs and NLP to parse relevant regulations. Their extensive database of public reviews, CFPB complaints, and enforcement actions helps Shiboleth identify the most enforceable regulations and recommend appropriate mitigation actions.
Check out the demo ⤵
🌤️Who Can Use Shiboleth?:
The solution is designed for financial institutions, including banks, fintech companies, and non-bank lenders, that are looking to streamline their lending compliance processes and reduce costs. Shiboleth is currently working with lending institutions but would be interested in hearing adjacent use cases.
