Gogolook (Gogolook Co., Ltd.), a TrustTech company, announced today (20) that it has acquired a domestic AI startup, Crowdinsight (Crowdinsight). Digital identity verification needs, and at the same time combine with existing communication fraud prevention data to strengthen enterprise risk management solutions.
Gogolook said that according to the Global Money Laundering Prevention Report, the scale of the global anti-money laundering (AML) industry will grow from US$2.8 billion to US$5.8 billion in five years, with a compound annual growth rate of 15.9%. The name-based AI Due Diligence (AIDD) service targets financial institutions. After entering the Fintech Innovation Park this year, it has also been successfully verified by two major local banks’ POC models.
In addition, Gogolook believes that through mergers and acquisitions, it is also expected to integrate its own phone number database, name AI due diligence technology, continue to strengthen data competitiveness, and deploy the field of digital identity verification.
Guo Jianfu, CEO of Gogolook, said that with the acquisition of Crowdinsight, it is expected to help drive operational applicability, complementarity, and internationalization. Among them, applicability means that the service has been verified and effective, has a clear business model, and is compatible with existing phone number data. The libraries complement each other and strengthen the data foundation for authentication. Internationalization means that services can be quickly replicated and implemented in Gogolook’s multinational market.
Gogolook said that the Crowdinsight AI customer due diligence service has four major advantages, including compliance data sources, AI automatic interpretation, legal compliance consulting, and case closing reports. A 2021 study by the Association of Money Launderers (ACAMS) shows that 1/3 of the world’s financial institutions are accelerating the application of AI and ML technologies to their internal anti-money laundering mechanisms, highlighting the trend of regulatory technology (RegTech).
Gogolook was established in 2012. Its main business is Whoscall, an unfamiliar call identification software. Its services cover Taiwan, South Korea, Japan, Hong Kong, Thailand, Brazil, Malaysia, etc. The main investors include NAVER Group, the parent company of communication software LINE, and Cathay Pacific Private Equity. , Wenmao (3105-TW), Digital Economy Fund, Ziding Small and Medium Enterprises, etc.