Deep Labs uses AI to build “persona-based” risk systems, has secured $16 million in commitments from a group of fintech investors. Gunnar Overstrom, partner at Corsair Capital, Serendipity Capital and Gramercy Ventures, led the investment.

Deep Labs dynamic adaptive risk and propensity profiles for users of products and services – analysing whether behaviour is typical or unusual and how that behaviour changes as it “moves through space and time”.

For example, Deep Labs can pick up on how people use their devices differently during the morning and at night or even depending on the weather.

The technology is used by Deep Lab clients to tackle things such as account takeover, anti-money laundering, false declines, marketing decisioning, identity, and friendly fraud.

Visa and American Express are among its early customers and Mastercard is a partner.

Scott Edington: “We built Deep Labs with the objective of moving the world of decisioning from a static, one dimensional process to a multi-dimensional one that uses the most modern computing and mathematical methods available.”

Separately, Deep Labs has been picked to participate in Goldman Sachs’ first Launch With GS Black and Latinx Entrepreneur Cohort. As one of 14 members of the cohort, Edington will get an eight-week virtual experience with access to the bank’s resources and contacts.

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