Eventus Unveils Frank AI for Financial Compliance

Eventus has launched Frank AI, an artificial intelligence solution for compliance and surveillance operations across financial institutions.

The Texas-based trade surveillance and financial risk management firm said in its announcement that Frank AI is built on deterministic AI principles, to ensure “secure, transparent, and repeatable results — a critical requirement for regulatory inquiries and audits”.

Frank AI is fully integrated into Eventus’ Validus platform, and uses natural language processing and large language models to automate workflows, improve accuracy, and identify sophisticated patterns of misconduct.

Travis Schwab, CEO of Eventus, said, “Clients in beta testing have been enthusiastic about its effectiveness and potential.”

Frank-ly speaking

AI is being embraced everywhere, as we know. and Eventus is keen to show off its Frank AI. The company reckons it enables compliance professionals to ask free-form questions in conversational English, such as: “Show me all cross-market wash trading patterns involving equity and futures for Client XYZ in the past 30 days.”

Frank AI then analyzes the relevant data across multiple asset classes, producing  regulator-ready reports complete with audit trails — reducing manual investigation time.

It is compatible with public LLMs from OpenAI, Anthropic, and Google, allowing the platform to benefit from advances in global AI research.

Eventus has a history of applying machine learning in alert remediation, but Frank AI marks a significant leap forward.

A competitive sector

Eventus will naturally have rivals in this fintech sector.

Solidus Labs recently introduced agentic-based compliance, a model that uses a network of AI agents to drive trade surveillance and transaction monitoring across both digital and traditional asset classes.

ThetaRay is a well-known name in the anti-money laundering and transaction monitoring space. Its platform uses AI (and advanced mathematical and data analytics) for transaction monitoring, sanctions screening, and anomaly detection in financial flows.

HCLTech has been working with financial services firms to modernize trade surveillance using AI and generative AI capabilities.

Snowflake has rolled out Cortex AI for Financial Services, a toolkit designed to help financial institutions deploy AI models and agents within regulated environments,

Finally, in the crypto and blockchain compliance domain, Elliptic provides analytics, risk scoring, and investigation support for cryptoasset transactions — applying AI and data analysis to detect illicit activity, compliance breaches, or suspicious flows