Norm Ai

What better than fintech & AI to bring old friends and new friends together! Such a fun conversation with John Nay of Norm Ai (who recently announced a fundraise!) and Stevi Petrelli from Blackstone to discuss how traditional FIs are thinking about AI alongside my cohost Julie VerHage-Greenberg We dove into: ➡️ Where AI will be most impactful for large FIs ➡️ How to manage the regulatory and compliance sensitivities around AI ➡️ And how to navigate those or so fun sales cycles Listen here! https://lnkd.in/eWzebX3b

The intersection of AI and traditional finance (TradFi) is an angle we haven't explored yet in our AI series for This Week in Fintech. Today, we change that by taking a deep dive into how AI is transforming large financial institutions. Jillian Williams and I are joined by two experts shaping the future of AI in finance: Stevi Petrelli – Head of Blackstone Innovations Investments, where she leads early-stage strategic investments in cutting-edge financial technology. John Nay – Founder & CEO of Norm Ai, a company pioneering the use of AI in regulatory compliance and policy automation. Together, they discuss: ➡️ Real-world applications of AI in financial services ➡️ What it takes to successfully sell AI solutions to financial institutions ➡️ Why workflow integration, compliance, and data infrastructure are critical to adoption. They also tackle common misconceptions, explore overhyped vs. underhyped AI trends, and share their insights on where the fintech and AI landscape is headed in 2025. Give it a listen! https://lnkd.in/gkz2Ff24

The Norm Ai team had a productive week at the Investment Company Institute Conference in San Diego, connecting with clients and industry leaders. The Investment Company Institute is the leading association representing the global asset management industry, with members overseeing over $45 trillion in regulated funds that serve more than 100 million investors worldwide.

Really enjoyed this conversation on a podcast with Stevi Petrelli, Julie VerHage-Greenberg, and Jillian Williams where we discuss AI agents in highly regulated large enterprises like Blackstone, trends in fintech and large language models, legal engineers at Norm Ai, personal use cases of AI we value most, and much more!

Norm Ai, a compliance AI platform, has secured US$48 million in a recent funding round, signaling strong investor confidence in its technology designed to streamline regulatory adherence within the insurance industry and beyond. John Nay, Founder and CEO of Norm Ai, said:  “This strategic investment accelerates our research and development across legal and regulatory frameworks to meet demand for AI compliance solutions.” Read the full report here: https://lnkd.in/eGqgx-ab #insurtechinsights #insurance #regulatory #compliance #ai #funding

We are excited to announce our latest investment in Norm Ai, a leading Regulatory AI agent company, marking our third investment in the company. Our continued partnership will support Norm AI as they transform how enterprises handle legal, regulatory and industry requirements. Learn more here:

We first met John Nay before Norm Ai was launched, when he shared a vision of building AI agents to revolutionize compliance processes. Since then, we're proud to have been a close partner as he and his team amassed broad industry adoption and, as of today, raised $87M to accelerate the development of these new AI systems. Read more below about why we believe Norm is setting the new “norm” for AI in the financial services industry. Read Norm Ai's Press Release here: https://nyl.co/41EKBdi

We are excited to announce $48 million in additional funding today from Coatue, Craft Ventures, Vanguard, Blackstone Innovations Investments, Bain Capital Ventures, New York Life Ventures, Citi Ventures, TIAA Ventures, and Marc Benioff, bringing the total funds raised to $87 million over the past 18 months. Investors in this round collectively represent more than $15 trillion in assets. Norm Ai is the leading legal & compliance automation platform that transforms how enterprises handle legal, regulatory and industry requirements. Rather than treating compliance separate from the business, Norm implements compliance checks proactively and delivers end-to-end enterprise-wide solutions.    The Norm Ai solution is built with the Legal Engineering Automation Platform (LEAP), our proprietary system for creating AI Agents with legal and regulatory domain expertise. LEAP empowers lawyers and ex-regulators at Norm Ai to convert complex policies into operational AI systems powered by Large Language Models. We are also excited to announce today that Troy Paredes has joined as Senior Policy Advisor and Head of Capital Markets Strategy at Norm Ai to accelerate the company in setting the norms for regulatory and compliance AI.  From 2008-2013, Mr. Paredes was a Commissioner of the U.S. Securities and Exchange Commission, having been appointed by President George W. Bush.  At the SEC, Mr. Paredes was actively involved across the SEC’s regulation and oversight of capital markets, and has been a strong proponent of leveraging technology in regulatory and compliance environments. 

Norm Ai enjoyed spending time with our clients at the Investment Adviser Association's Compliance Conference. A highlight included Norm Ai COO Patrick Vergara's remarks regarding Regulatory AI at the "Conversation with SEC Divisions of Examinations and Enforcement" lunch, which Norm Ai was proud to sponsor.

In their latest piece for Fortune, Norm Ai CEO John Nay and Former SEC Commissioner Troy A. Paredes explore encoding regulations into AI systems to better serve the public interest. They discuss how these capabilities can be leveraged for the benefit of regulators, those they regulate, and society more broadly. Access the full article in the comments below.