Workfusion with Adam Famularo | E388
AI-enabled KYC + AI Delivery
In this episode of FinTech Impact, host Jason Pereira interviews Adam Famularo, CEO of Workfusion. They discuss Workfusion's innovative use of artificial intelligence to combat financial crimes, specifically anti-money laundering, and the development of AI agents for compliance in banks. Adam explains how machine learning models, developed in collaboration with multiple banks, are packaged into digital workers, now called AI agents, which significantly expedite processes such as transaction screening and KYC (Know Your Customer). They also dive into the concept of human-in-the-loop, the importance of purpose-built AI, and the transformation of traditional financial compliance roles through AI integration. This interview offers a deep dive into the future of fraud detection and compliance in the financial sector.
Episode Highlights:
00:00 Introduction to FinTech Impact
00:06 Meet Adam Famularo, CEO of Workfusion
00:36 The Origins and Mission of Workfusion
01:33 Tackling Money Laundering with AI
03:35 AI Agents: Revolutionizing Compliance
05:28 Purpose-Built AI vs. General AI
08:00 Human in the Loop: Enhancing AI Effectiveness
13:41 Expanding AI Applications in Banking
19:20 Challenges and Future of AI in Compliance
25:20 Conclusion and Final Thoughts
Resources:
Facebook – Jason Pereira's Facebook
LinkedIn – Jason Pereira's LinkedIn
Woodgate.com – Sponsor
LinkedIn - Adam Famularo’s LinkedIn