Greenlite Inc. Company Research Report

Company Overview

Name: Greenlite Inc.

Mission of the Company: Greenlite empowers financial crime teams to combat financial crime more effectively by using AI to enhance human capabilities in investigating criminal activities, thereby making financial crime unprofitable and the world a safer place.

Founded: No information is available.

Founders: No information is available.

Key People:

• Chris Mastrangelo, Chief Compliance Officer

Headquarters: 870 Market Street, San Francisco, California 94102, United States

Number of Employees: No information is available.

Revenue of the Company: No information is available.

What is the Company Known For: Greenlite is known for automating repetitive financial compliance work with advanced AI, enabling financial institutions to handle financial crime more efficiently. The company focuses on assisting compliance teams in identifying client risks comprehensively.

Products

1. Screening Alerts

• Description: Automates the investigation of alerts from screening systems to enhance efficiency and clear backlogs.

• Key Features:

• 24/7 operation to handle alerts more efficiently.

• Increases alert handling capacity by 10-15 times.

2. Transaction Monitoring Alerts

• Description: Provides comprehensive review of transaction monitoring alerts with the expertise of senior analysts.

• Key Features:

• Integration with existing systems for rapid connection.

• Prioritization of true risks and reduction of false positives.

3. Customer Due Diligence

• Description: Evaluates customer documentation, financial statements, and web presence to assess new risks swiftly.

• Key Features:

• Speeds up account opening.

• Develops a holistic view of high-risk customers quickly.

4. Enhanced Due Diligence

• Description: Compiles detailed profiles for high-risk customers to aid in faster onboarding and monitoring.

• Key Features:

• Uncover previously unknown risks.

• Creates comprehensive, documented insights.

5. Additional Workflows

• Partner Diligence: Conduct thorough due diligence on partners and financial technology companies.

• Third-party Risk Management: Efficient TPRM reviews to mitigate vendor risks.

• Website and Fraud Analysis: Instant categorization of business websites and improved handling of fraud alerts.

• Surveillance and Monitoring: Enhanced automation for trade surveillance alerts.

Recent Developments

Recent Developments:

• SOC 2 Type 2 Certification: Achieved certification for information security, data privacy, and processing integrity as of April 2024.

• New Partnerships:

• Partnership with Sandbar: Announced in November 2024 to improve anti-money laundering (AML) efficiency through smarter compliance.

New Products Launched: No information is available regarding new products launched.

New Features Added to Existing Products:

• Improvement in AML efficiency and expanded alert handling capabilities, as evidenced by case studies with clients such as Meso, Sling, Fluz, and Grasshopper Bank.

New Partnerships:

• Sandbar Partnership: Greenlite has partnered with Sandbar, an activity monitoring platform for AML.

This report aims to provide an in-depth understanding of Greenlite Inc.'s positioning and capabilities in the financial compliance sector through its innovative use of AI technology and strategic market approaches.