Canarie uses AI to automate legal compliance, reducing risks, costs, and reliance on external counsel.
Canarie uses natural language processing to help banks stay compliant with evolving regulations. It provides real-time regulatory updates and predictive analytics to identify and reduce compliance risks. By automating legal document reviews, it lowers reliance on external counsel and streamlines compliance processes.
Founded in 2022, Composure initially focused on enhancing legal department efficiency through automation and AI. The platform automated tasks like document handling and legal approvals while providing advanced tools for compliance and litigation management.
Since January 2024, under our RippleX Founder Fellowship program, we've supported Composure’s founders, Anmol and Ilia, through their customer validation and product pivot. We're particularly excited about their research into a new customer segment in the regulatory compliance space.
Canarie starting with the banking industry's need to continuously adapt to regulatory updates, which can drain resources, increase operational costs, and lead to substantial penalties if not managed properly. Composure's solution offers a reduction in compliance risks by over 30% by utilizing AI-driven insights to facilitate a smarter, more cost-effective approach to compliance management, thus minimizing banks' dependency on external legal counsel and other compliance resources.