In the rapidly evolving world of financial technology, a standout story has emerged from Pisa, Italy. Aptus.AI, a pioneering regtech company, has successfully secured a significant €3 million in pre-Series A funding. The round, led by Programma 103 by VC P101 Sgr, also saw contributions from notable business angels and Fin+Tech, the accelerator arm of CDP Venture Capital. This investment marks a notable advancement in the realm of regulatory technology, particularly in transforming compliance from a mere obligation to a strategic business advantage.
Founded in 2018 by Andrea Tesei and Lorenzo De Mattei, Aptus.AI has distinguished itself by revolutionizing how financial institutions manage compliance. The startup’s groundbreaking Daitomic platform transforms cumbersome legal documents into interactive, machine-readable formats. This innovative approach not only simplifies compliance but also paves the way for new business opportunities, especially for banks and insurance companies grappling with vast amounts of legal documentation.
Andrea Tesei, co-founder and CEO, articulates the company’s vision and its commitment to maintaining Italy’s prestigious position in the burgeoning regtech sector. He emphasizes the transformative power of combining AI for data extraction with generative AI. This fusion leads to highly precise responses even in complex fields like legal compliance, thereby providing significant advantages for large organizations to remain competitive and benefit end consumers.
In a sector where compliance is often viewed as a burden, Aptus.AI redefines it as a strategic asset. The company’s application is not just a tool for compliance management; it’s a complete reinvention of its role in business operations. In 2022, Aptus.AI plans to expand its offerings with a comprehensive solution tailored to meet the demands of complex financial institutions. This includes everything from swift consultation of regulations to the creation of multilingual legal inventories and simulations of potential regulatory impacts.
Giuseppe Donvito, Partner at P101, expresses his enthusiasm for the collaboration with Aptus.AI. He highlights the team’s expertise and the interest their product has garnered from major financial institutions. This interest is driven by the advanced AI technologies developed by the founders, leveraging their computer science and generative AI background from the University of Pisa. Donvito is confident in Aptus.AI’s potential to lead the compliance and risk management sector.
The financial industry has witnessed considerable changes in the last decade, marked by the emergence of fintech and increasing regulatory requirements. This evolution underlines the growing significance of the RegTech market, estimated to reach $15.6 billion by 2027. Aptus.AI, with its innovative approach to transforming legal documents into machine-readable formats, is uniquely positioned to address the challenge of rapidly adapting to compliance requirements.
Lorenzo De Mattei, co-founder and CTO, elaborates on their AI’s unique capability to convert legal documents into a machine-readable standard. This advancement enables new interactions with legal texts and offers tools for efficient regulatory consultation, automatic legal inventory management, and instant impact analysis. Their approach not only enhances precision in the legal domain but also significantly reduces inaccuracies in AI responses.
Aptus.AI, with its innovative solutions and growing client base, including major players like Intesa Sanpaolo, Generali Investments, and MPS, is poised to reshape the regtech landscape. As they embark on various pilot projects and expand their reach, Aptus.AI exemplifies the transformative potential of AI in the fintech sector, making compliance not just a necessity but a strategic advantage.
