Introduction
Money moves faster than ever, and so does fraud. As AI-driven scams become increasingly sophisticated, the financial industry struggles to keep up. Sardine, a fintech company specializing in fraud prevention and compliance, has announced a $70 million Series C funding round led by Activant Capital. This brings its total funding to $145 million and solidifies its mission to rebuild trust in financial transactions using AI-powered risk intelligence.
Why Is This News Relevant?
Financial fraud is evolving at an alarming rate. In 2023 alone, scammers stole over $1 trillion globally. Traditional fraud prevention systems, riddled with inefficiencies, fail to keep up with the speed of modern cybercrime. Compliance costs are skyrocketing, and fraud teams are overwhelmed with alerts that require time-consuming manual investigations.
Sardine is tackling this crisis head-on. With a unified risk platform, behavioral biometrics, and AI-driven automation, the company is reshaping fraud detection, compliance, and risk management for financial institutions, fintechs, and payment providers worldwide.
Industry Comments
“Sardine’s approach is what modern fraud prevention needs. AI-driven behavioral intelligence allows financial institutions to catch fraud in real time rather than react after the damage is done.” — Arjun Ramakrishnan, Head of Risk, GoDaddy Payments
“With real-time fraud detection and seamless compliance integrations, Sardine is giving banks and fintechs the tools they need to fight back against AI-powered financial crime.” — Steve Sarracino, Founder & Partner, Activant Capital
FAQs
1. How does Sardine’s technology work?
Sardine combines AI-driven behavioral intelligence with device profiling and real-time transaction monitoring to detect and prevent fraud before it happens. It integrates fraud prevention, compliance monitoring, and credit risk assessment into a single platform.
2. What impact has Sardine had on financial institutions?
Sardine has helped a tier-1 bank prevent 42% of wire fraud, reduced chargeback losses for a commercial neobank by 70%, and saved thousands of hours in manual fraud investigations for its clients.
3. What are Sardine’s AI agents?
Sardine has launched AI-powered agents for KYC automation, sanctions screening, merchant risk assessment, and dispute management. These agents reduce manual workloads, improve accuracy, and provide explainable AI-driven risk analysis.
4. How does Sardine’s funding impact the industry?
With $70 million in new funding, Sardine plans to expand its AI-driven risk intelligence solutions, scale its customer base, and strengthen financial crime detection across industries. The investment will also accelerate compliance automation for financial services.
Conclusion
As financial crime becomes more sophisticated, Sardine is stepping up with AI-powered solutions that not only detect fraud but also streamline compliance and risk management. This $70 million funding round marks a significant milestone in the fight against AI-driven scams, ensuring that businesses and consumers can transact with greater trust and security.
