- Slice of Finance
- Posts
- Treasury Prime Partners with Kobalt Labs to Enhance Compliance for Banks
Treasury Prime Partners with Kobalt Labs to Enhance Compliance for Banks
Slice of Finance Team
22 Aug
Key Highlights:
Treasury Prime partners with Kobalt Labs to boost compliance capabilities for banks.
Kobalt Labs offers AI-driven tools for efficient third-party diligence.
Streamlines legal, compliance, and infosec diligence on a single platform.
Improves internal diligence capacity by 4x and enhances regulatory coverage.
Source (Business Wire)
Notable Quotes:
“Compliance costs are a big consideration for banks as they weigh the investments associated with embedded banking. By partnering with Kobalt Labs, we’re enabling our bank clients to access new capabilities for third-party risk management compliance as they scale their BaaS programs.”
“Initial benchmarking shows that our platform boosts internal diligence capacity by over 4 times, increases real-time regulatory coverage and aligns with evidence required during audit periods.”
“Kobalt accelerates my manual workflow and reduces the time to meet ever-changing regulatory obligations.”
Our Take:
The partnership between Treasury Prime and Kobalt Labs marks a significant step forward in the financial sector's approach to compliance and risk management. By integrating AI-driven tools that streamline and automate third-party diligence, banks can significantly reduce their compliance costs and improve operational efficiency. This collaboration not only addresses the increasing regulatory demands but also equips banks with the ability to scale their operations without the need for proportional increases in compliance resources. As the financial landscape continues to evolve, partnerships like this will be crucial for institutions aiming to maintain agility while adhering to strict regulatory standards.