Sydney-based artificial intelligence (AI) startup Red Marker has been acquired by Florida-based global education and corporate solutions platform Kaplan Professional.
The acquisition enables Kaplan to offer compliance solutions in the fintech sector through the use of artificial intelligence. The deal will work to create tools that will help financial advisors identify risks associated with financial products and services.
Kaplan Professional offers courses in finance, real-estate, and professional business development consultancy. The partnership with Red Marker will help expand Kaplan Professional’s AI solution, Artemis.
The Artemis solution helps financial advisors create and share compliant digital content and helps them identify potential legal issues. According to the startup, Artemis “detects risky content as it is being created, helping advisors and licensees to identify and remediate compliance risks associated with the promotion of financial products and services.”
The complete terms of the deal have not been disclosed yet, but Red Marker will work towards enabling and regulating a technology industry (regtech), as a wholly-owned subsidiary of Kaplan.
Managing director of Kaplan Australia and New Zealand, Rob Regan says:
By enabling advisers to confidently embrace compliance, it will allow them to continually increase their knowledge in a reportable manner. Adding Red Marker to the Kaplan portfolio will accelerate the development of personalized and adaptive learning engines in the financial services sector.
CEO of Kaplan Professionals, Brian Knight comments on the acquisition:
AI will revolutionize education and it will empower our clients to find ways to ensure their advisers can provide trusted and reliable advice now and into the future.
He further stated that AI is a deal changer that will facilitate industry compliance and moving beyond machine learning.
Managing director of Red Marker, Matt Symons said that the startup’s clients are really enthusiastic about Artemis, it is the future of professional education world-over, where real-time training is delivered as and when users need it the most. He believes that this acquisition marks a step towards reducing financial risk and improving educational opportunities.