Back in 2023, Kalyani Ramadurgam teamed up with Ashi Agrawal, an ex-software engineer from Affirm, to launch Kobalt Labs. Their mission? Revolutionizing how banks handle compliance through artificial intelligence.

Here's the thing—financial institutions are drowning in paperwork. Kobalt's AI engine cuts through the noise by automating document review and partner vetting. Instead of compliance teams manually combing through stacks of files, the models instantly flag risks and verify that counterparties meet regulatory standards.

It's a smart move for an industry where compliance costs keep climbing and regulators keep tightening scrutiny. The startup represents the growing wave of machine-learning solutions transforming how finance tackles due diligence and regulatory requirements.