As global financial institutions grapple with a staggering $206 billion annual bill for financial crime compliance, a new firm founded by Wall Street veterans has entered the fray, hitting seven-figure revenue in its first year.
de Risk Partners, launched in March 2024 by former executives from Citigroup, Barclays, and Goldman Sachs, is capturing a critical slice of the booming Regulatory Technology (RegTech) market.
That market, valued at approximately $15.8 billion in 2024, is projected to explode to over $85 billion by 2032 as firms desperately seek technological solutions to regulatory burdens.
The firm is led by CEO Ravi de Silva, a Chartered Accountant and certified anti-money laundering specialist with senior leadership experience at Citi, JPMorgan Chase, and American Express.
He is joined by industry heavyweights including Citi’s former Chief Compliance Officer and Chief Audit Executive, Mark Carawan, and Becky Reed, the former CEO of North Star Credit Union.
The $3.1 Trillion Problem
The stakes for compliance failures have never been higher.
A 2024 Nasdaq report estimated that $3.1 trillion in illicit funds flowed through the global financial system in 2023, linked to crimes generating $346.7 billion from human trafficking and $485.6 billion in fraud losses.
In response, regulators have intensified pressure, leaving many financial institutions, particularly smaller ones, in a bind.
Industry analysis shows that compliance costs can consume as much as 19% of a smaller firm's annual revenue.
"For years, financial compliance has been fragmented—AML software here, risk management tools there, and endless integration headaches," said CEO Ravi de Silva.
"This model is no longer sustainable."
de Risk Partners aims to solve this by integrating AI-powered technology with fractional C-suite executives, targeting banks, fintechs, credit unions, and digital asset exchanges.
Slashing False Positives and Headcount Costs
A major drain on the industry's $206 billion compliance bill is the inefficiency of legacy monitoring systems.
Industry-wide, analysts are overwhelmed by alerts, with some legacy systems reporting false positive rates as high as 95%.
This forces banks to hire armies of investigators to sift through noise.
de Risk Partners claims its hybrid model delivers measurable results within 90 days.
New clients reportedly achieve operational compliance within 30 days and, crucially, see a 60-70% reduction in transaction monitoring false positives.
This efficiency gain is central to the firm's core offering: a 24/7 managed service that provides enterprise-grade compliance at a "startup-friendly" price.
"Most startups and smaller institutions can’t afford a full-time, ex-Wall Street Chief Compliance Officer," de Silva added.
"Our model gives them automated oversight plus on-demand access to seasoned executives. Their AI handles the large-scale monitoring, while our human team develops proactive relationships with regulators."
A Global Footprint
Operating from the US and Switzerland, the firm is scaling its international operations via de Risk Suisse GmbH in Lucerne.
This Swiss hub manages the firm's global initiatives, leveraging Switzerland’s stringent financial reputation to manage multinational engagements.
By merging AI efficiency with verifiable human expertise, de Risk Partners is positioning compliance not as a multi-billion dollar cost center, but as a competitive advantage.