AQM Technologies in Chicago has acquired TRaiCE, which offers AI-based business risk monitoring solutions.
AQM, which handles quality assurance, cybersecurity audits, and software testing for banks, did not disclose how much it paid.
TRaiCE, backed by fintech accelerator RevTech Labs, pioneered using large language models for risk monitoring.
“The integration of TRaiCE’s advanced risk monitoring technology into our portfolio allows us to offer proactive business assurance solutions,” Madhav Bhadra, AQM’s CEO, said in a press release. “With TRaiCE, we are embedding business assurance directly into the financial services lifecycle. From software integrity to real-time business risk insights, we now provide a 360-degree view of risk that financial institutions can act on.”