Castle Hall Unveils DiligenceAI, a Revolutionary Mobile App for Due Diligence
MONTREAL, May 12, 2024 (Newswire.com) - Castle Hall Diligence, a pioneer in integrating fintech within the due diligence process, has announced the formal launch of DiligenceAI. DiligenceAI begins with a groundbreaking mobile application that leverages artificial intelligence to transform how due diligence is conducted across the finance industry. The app introduces new diligence models, including Know Your General Partner ("KYGP") and Know Your Service Provider ("KYSP"), and helps Castle Hall continue to set new standards across operational, cyber, and ESG diligence.
Anne Coady, Managing Partner at Castle Hall, stated "The introduction of DiligenceAI marks a significant milestone in our commitment to enhance due diligence through technology. AI not only speeds up the due diligence process but provides depth and precision in assessing risks, ensuring our clients can achieve better investment outcomes."
DiligenceAI uses advanced AI technologies to analyze vast amounts of industry data. This enables the detection of patterns and potential risks that traditional methods may overlook. DiligenceAI is designed to enhance the due diligence process by providing immediate access to detailed, AI-generated insights across tens of thousands of asset managers and service providers.
Chris Addy, President and CEO of Castle Hall, highlighted the impact of AI on the industry: "AI opens up a new universe of tools that bring efficiency, speed, and accuracy to every element of the due diligence process. The DiligenceAI mobile app is a game-changer, placing comprehensive due diligence capabilities directly in the hands of our users at a fraction of the cost of traditional ODD."
Features of the DiligenceAI Mobile App Include:
- KYGP (Know Your General Partner): Users can access detailed information on over 20,000 asset managers and nearly 100,000 funds, including data on AUM, headcount, regulatory oversight, and executive teams. This service uses AI to generate immediate insights on each general partner and their associated strengths and risks.
- KYSP (Know Your Service Provider): As regulations tighten globally, KYSP ensures that users can perform due diligence on nearly 10,000 service providers. Subjects include custodians, prime brokers, administrators, auditors, and legal counsel, aligning due diligence capabilities with new regulatory frameworks requiring diligent third-party vendor risk management.
For more information on DiligenceAI and to download the app, please visit diligence-ai.com
About Castle Hall
Castle Hall Diligence helps investors worldwide manage the operational, ESG and cyber risks of asset managers and industry service providers.
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Source: Castle Hall Diligence