San Francisco, CA / Los Angeles, CA – Arva AI, a leader in financial crime prevention technology, today announced a partnership with FairPlay, the AI Enablement Company for the Financial Services industry, advancing the responsible adoption of agentic AI in financial services.
FairPlay will validate Arva’s AI AML Agents - covering Screening, KYB, and transaction monitoring - via its new Agentic Assurance Platform, which stress-tests performance, maps controls, and produces regulator-ready documentation aligned with SR 11-7 and the NIST AI Risk Management Framework.
“At Arva, our mission is to transform financial crime prevention with compliant AI,” said Rhim Shah, Arva’s Founder & CEO. “FairPlay’s Agentic Assurance Platform provides the rigorous testing and evidence generation our customers need to trust and scale these technologies with confidence.”
“Financial institutions need assurance that their AI systems are not only powerful, but also safe, reliable, and regulator-ready,” said Kareem Saleh, Founder and CEO of FairPlay. “By partnering with Arva, we’re helping the industry deploy tested and trusted agents that can stand up to both business demands and compliance scrutiny.”
This collaboration underscores both companies’ commitment to advancing the responsible adoption of agentic AI in financial services. For Arva’s customers, the validation adds an independent layer of assurance that its AI AML Agents perform effectively and meet the highest standards of AI governance.
About Arva AI
Arva AI is redefining financial crime compliance by replacing over 90% of manual Screening, AML, and KYC/KYB reviews with regulator-ready AI agents - making large-scale AI deployment finally possible for banks and fintechs.
Founded by experts in financial crime compliance, Anti-Money Laundering (AML) and machine learning, Arva delivers agentic AI that reimagines traditional Know Your Business (KYB), transaction monitoring, and adverse media screening workflows. Its platform automates up to 80% of manual compliance reviews – shortening review times drastically while bolstering compliance controls. Leading the company is Rhim Shah, who formerly led anti-financial crime teams at Revolut, and brings deep domain experience in building global-scale compliance functions.
Backed by Google’s AI fund and Y Combinator, Arva AI serves leading financial institutions across the US, UK and Canada. The company’s AI agents autonomously handle millions of reviews each month, resolving nearly 91% of screening alerts, 87% of KYC/KYB processes, and 86% of transaction monitoring alerts, delivering significant boosts to straight-through processing and operational efficiency.
Arva’s platform is built on a foundation of AI Risk Governance, designed for highly regulated environments. Its rigorous, certified frameworks (ranging from SOC 2 Type II and ISO 42001 certifications to transparent audit trails and continuous monitoring) ensure decisions are auditable, explainable, and trusted by regulators.
In a striking validation of its momentum and ambition, Arva AI was recently showcased on a digital billboard in New York’s iconic Times Square – marking a symbolic milestone in global recognition of its AI-powered risk intelligence offerings.
About FairPlay
FairPlay is the AI enablement company for financial services and insurance industries. FairPlay specializes in testing, tuning, and validating AI systems and agents - helping institutions deploy AI faster, more profitably, and in full compliance. FairPlay products address the toughest challenges in AI deployment, including Bias Testing, Model Optimization, Model and Agentic Validation, Second Look and Safe AI Sourcing.
Founded by data scientists and software engineers from Google, Microsoft, Hulu, Elementary Robotics, ZestAI, and the U.S. Government, FairPlay brings deep expertise in applying AI to underwriting, pricing, marketing, fraud detection, and other high-stakes decisions.
FairPlay’s founders have testified before Congress on the use of AI in lending and were commissioned by the Brookings Institution to author an AI Policy Agenda for federal financial regulators. Its advisory board includes David Silberman, former Deputy Director of the CFPB; Manny Alvarez, former Commissioner of California’s Department of Financial Institutions; and Kevin Moss, former Chief Risk Officer of Wells Fargo and SoFi.
FairPlay’s work has been featured in The Wall Street Journal, USA Today, Politico, American Banker and Forbes. In 2023, Fast Company recognized FairPlay as a “World Changing Idea.”
