OnFinance AI, a distinct generative AI platform tailored for the Banking, Financial Services, and Insurance (BFSI) industry, has successfully raised 4.2 million in a Pre-Series A funding round. This round was spearheaded by Peak XV’s Surge, with contributions from Shyamal Hitesh Anadkat, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, and current investors Indian Angel Network (IAN) and Silverneedle Ventures (SNV). The Bengaluru-based startup had earlier secured 1.05 million during its seed funding from Haystack and other investors. The newly acquired funds will facilitate the enhancement of its proprietary BFSI-centric AI models, boost research and development along with hiring in engineering and AI disciplines, and broaden its outreach to international territories.
Overview of OnFinance AI
Co-founded in 2023 by Anuj and Priyesh Srivastava, OnFinance AI creates generative AI-driven systems intended for regulatory compliance, risk management, and audit automation within the BFSI sector. Its main platform, ComplianceOS, is powered by the unique NeoGPT LLM, which hosts over 70 intelligent agents that assist banks, insurance providers, and asset managers in interpreting regulations, overseeing compliance, and streamlining internal operations.
Features of NeoGPT
NeoGPT, recognised as India’s first BFSI-specific large language model, is meticulously fine-tuned using more than 300 million tokens of regulatory information sourced from SEBI, RBI, IRDAI, and AMFI publications. In conjunction with ComplianceOS, the company also presents InvestigativeOS, which delivers specialised compliance and risk functionalities, including KYC compliance, cyber security and resilience framework (CSCRF) compliance, SEBI accessibility compliance for PwD regulations, vendor risk assessments, and AI-enhanced surveillance for market misconduct, insider trading, and front-running.
Benefits of OnFinance AI Solutions
OnFinance AI utilises advanced AI models and comprehensive financial domain data to convert traditional compliance workflows into automated, streamlined processes. This transformation enables financial institutions to uphold clarity and confidence in their compliance efforts while concentrating on innovation and growth.
