08.09.2022

BHG VC Announces Investment in Fraud Prevention and Financial Crime Management Company, Effectiv

BHG VC Announces Investment in Fraud Prevention and Financial Crime Management Company, Effectiv

Davie, FL—  BHG VC, the corporate venture capital arm of BHG Financial, is pleased to announce its investment in Effectiv, an industry leading fraud prevention and financial crime management company.  

BHG VC’s investment in the company comes after a successful partnership was established between Effectiv and BHG Financial.  By implementing Effectiv’s solutions, BHG Financial experienced cost savings in excess of$2 million 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 onboard customers and safeguard their assets in a digital and post-pandemic age. Created by experts in the fields of 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-centered technology and AI, Effectiv’s solutions quickly detect patterns and anomalies to protect account holders and facilitate a frictionless onboarding process. 

Recognizing the increasing importance of staying ahead of evolving financial crime, BHG VC’s investment demonstrates its ethos of supporting promising companies with more than just capital. “We’re proud to partner with Effectiv and to further support financial institutions across the country,” said Misha Polovneff, VP of Corporate Development. “Our parent company, BHG Financial, has been serving banks since 2001. We understand their needs and find that Effectiv provides a comprehensive platform for financial institutions to navigate fraud and minimize cost.” 

Built by a team who helped enterprises like USBank, Chime, Google, PayPal, and Walmart manage fraud and risk, Effectiv’s solutions utilize hundreds of industry-leading data sources and enable financial institutions of all sizes to establish customized solutions based on their unique needs. With built-in machine learning capabilities and ML-model connectors, it makes it simple for financial institutions to leverage the power of ML in achieving their automation goals.  

“Our relationship with BHG VC has been extremely positive,” said Ravi Sandepudi, CEO of Effectiv. “The guidance of their leadership team and their 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 constantly shifting environment.” 

Effectiv joins BHG VC’s fintech-focused portfolio companies that operate in subsectors ranging from specialized loan origination and fraud prevention to digital banking and more. Through these partnerships, BHG VC aims to strengthen financial institutions and fintechs while empowering leaders across financial services. 

About Effectiv 

At Effectiv, we aim to empower financial institutions’ genuine needs for effective fraud prevention and compliance management that are adaptable for the future and use human-centered technology with the perfect combination of AI. Backed by industry-leading investors, advisors, and experts, we’re helping financial institutions stay ahead of fraud and compliant in today’s dynamic and digital-first world. For more information about Effectiv, click here.  

About BHG VC 

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

For more information about BHG VC, click here. Find out more about the company’s financial solutions on https://bhgfinancial.com. Follow BHG on LinkedIn, Facebook, Instagram, and Twitter

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Best Places to Work South Florida Business Journal
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Best Places to Work in Financial Services and Insurance
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CNY Business Journal Great Place to Work
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