NewTech Friday: Vespia – Helping businesses stay compliant with regulations

Julia Ront, Founder and CEO of Vespia, tells Qorus’ Boris Plantier about the story behind her pioneering AI business verification (KYB) startup based in Estonia and its offerings.

What led to the creation of Vespia?

My journey with Vespia started at Veriff, where I was deeply immersed in KYC processes. Vespia was born out of a clear need within the fintech and regulatory technology (regtech) sector. Before Vespia, I saw that even with technological advancements, anti-money laundering (AML) compliance and business verification (KYB) processes remained cumbersome and outdated, heavily reliant on manual effort and prone to errors, often using tools like Excel. Recognizing this gap, my co-founder Anton and I used our AI and cybersecurity background to develop a solution. Launched amid the Covid-19 pandemic in 2021, Vespia was our answer to streamline and secure these processes, setting a new standard in AML compliance and KYB, and making these critical procedures accessible and efficient.