By PAUL O’DONOGHUE, Senior Correspondent
UIPATH, a global leader in agentic automation, has acquired WorkFusion, a pioneer in AI agents for financial crime compliance.
UiPath said the move will strengthen its portfolio of “agentic AI-powered industry solutions for the financial services and banking industries”.
Adam Famularo, CEO of WorkFusion, said: “Joining UiPath is a moment of validation for the years our team has poured into creating something bold, different, and deeply needed in financial crime compliance – AI agents that automate work and mitigate risk.
“UiPath gives us the scale to grow faster than we ever could alone, without losing the heart of who we are. Together, we’re creating something bigger than any one company. We are modernizing financial crime compliance.”
Daniel Dines, CEO of UiPath, said: “Financial institutions need intelligent solutions to combat sophisticated financial crimes. They also need help navigating evolving compliance requirements.
“Incorporating WorkFusion’s AI agents expands our portfolio. It allows us to deliver broader automation and orchestration solutions. We’re providing AI tools that automate critical compliance processes while working alongside people to deliver impact.”
The companies did not reveal financial terms of the deal.
The transaction comes shortly after WorkFusion raised $45 million to expand its use of AI (artificial intelligence) in financial crime compliance
WorkFusion offers a pre-built library of AI agents that automate labor-intensive compliance tasks, such as customer screening and investigations.
UiPath added: “Coupled with UiPath’s agentic automation and orchestration platform, banks and financial institutions can automate intricate workflows.
“[They can also] analyze complex patterns, and help prioritize cases requiring human expertise.
“[All] while maintaining the security, governance, and regulatory controls they require to reduce operational costs and improve compliance effectiveness.”
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