BHG VC makes investment in fraud prevention and financial crime prevention companies, Effectiveiv

DAVIE, FL., August 9, 2022 /PRNewswire/ — BHG VC, the corporate venture capital arm of BHG Financial, is pleased to announce its investment in Effectiv, an industry leader in fraud prevention and financial crime.

BHG VC’s investment in the company follows the establishment of a successful partnership between Effectiv and BHG Financial. By implementing Effectiv’s solutions, BHG Financial has seen cost savings of over 2 million dollars and saw significant efficiency gains of 70%.

Effectiv is a fraud prevention and financial crime management platform that provides financial institutions with the technology and support they need to securely engage customers and protect their assets in a digital and post-pandemic era. Developed by experts in compliance, fraud and technology, Effectiv’s solutions are uniquely designed with a deep understanding of the global financial landscape. Powered by a combination of human-centric technology and AI, Effectiv’s solutions quickly identify patterns and anomalies to protect account holders and enable a smooth onboarding process.

Recognizing the increasing importance of staying ahead of evolving financial crime, BHG VC’s investment demonstrates its ethos of backing promising companies with more than just capital. “We are proud to partner with Effectiv and continue to support financial institutions across the country,” he said Misha Polovnev, Vice President of Corporate Development. “Our parent company, BHG Financial, has been serving banks since 2001. We understand their needs and find Effectiv to provide a comprehensive platform for financial institutions to avoid fraud and minimize costs.”

Effectiv’s solutions were developed by a team that has helped companies such as USBank, Chime, Google, PayPal and Walmart with fraud and risk management. Leveraging hundreds of industry-leading data sources, they enable financial institutions of all sizes to tailor solutions based on their unique needs. With built-in machine learning capabilities and ML model connectors, it makes it easy for financial institutions to harness the power of ML to achieve their automation goals.

“Our relationship with BHG VC has been extremely positive,” he said Ravi Sandepudi, Managing Director of Effectiv. “The guidance of her leadership team and her expertise in the financial sector have been invaluable in helping us scale our operations. We’re excited to continue working together to provide financial institutions with the support they need to manage fraud and risk in this ever-changing environment.”

Effectiv joins BHG VC’s fintech-focused portfolio companies operating in sub-sectors ranging from specialized lending and fraud prevention to digital banking and more. Through these partnerships, BHG VC aims to empower financial institutions and fintechs while empowering leaders in the financial services space.

About effective

At Effectiv, we aim to empower financial institutions’ real needs for effective fraud prevention and compliance management, adaptable for the future, using human-centric technology with the perfect combination of AI. Backed by industry-leading investors, advisors and experts, we help financial institutions stay ahead of fraud and remain compliant in today’s dynamic and digitally-influenced world. More information about Effectiveiv can be found here.

About BHG VC

BHG VC is unleashing rapid growth in the fintech space by investing capital and injecting strategic resources into exceptional entrepreneurs with disruptive ideas. Powered by BHG Financial’s superior data and experience, BHG VC uses a unique partnership investment methodology to nurture tomorrow’s fintech leaders, today.

More information about BHG VC can be found here. Learn more about the company’s financial solutions at https://bhgfinancial.com. Follow BHG on LinkedIn, Facebook, and Instagram Twitter.

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SOURCE BHG Financial; BHG VC

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