Surge Ventures, the Menlo Park-based FinTech venture studio, recently announced that its inaugural venture, RegVerse, has expanded its Avery platform by launching the Fusion1 product suite. This new add-on to Avery was created to provide wealth management firms with a suite of AI-enabled compliance and surveillance tools, including audits, advertisement reviews, attestations and code of ethics.
According to Sid Yenamandra, Co-Founder of Surge Ventures and CEO of RegVerse. “Fusion1 simplifies the compliance journeys of heavily regulated companies by offering them a comprehensive solution that provides the perfect blend of technology and human insight.”
Yenamandra added, “Automation is the new standard for compliance excellence, but the technology behind it must be combined with the power of AI and hands-on expert guidance. That’s what we offer, along with streamlined operations, unparalleled accuracy and unmatched efficiency.”
Fusion1 streamlines data and file management on one platform through a single hub for all compliance-related materials. AI-powered suggestions help ensure adaptability and precision in meeting specific compliance needs. Real-time progress tracking capabilities allow firms to monitor compliance progress, set up alerts and tailored notifications and efficiently manage reporting. By fostering collaboration within the compliance team, Fusion1 is intended to enhance communication, streamline approvals and ensure a cohesive approach to compliance tasks, while at the same time reducing bottlenecks.
Surge Ventures launched RegVerse in November 2023, to empower financial firms with cutting-edge AI solutions. Its first offering was Avery, a Generative AI-powered Regulatory Management Platform. Fusion1 is the latest addition to that platform.
