Truera Appoints Senior Banking Data Leader to Executive Team, Opens Offices in Singapore and London to Accommodate Growing Demand for Responsible AI Solutions
Former customer joins Truera to help expand its market presence globally
Truera, which provides the industry’s first Model Intelligence platform, announced today that it has appointed Shameek Kundu as Head of Financial Services and Chief Strategy Officer. Kundu was previously with Standard Chartered Bank, where he was Group Chief Data Officer.
Kundu has been an early proponent of Responsible Adoption of AI in financial services, having helped draft the Monetary Authority of Singapore’s AI guidelines back in 2018. Kundu is a member of the Bank of England’s AI Public-Private Forum and the OECD Global Partnership on AI. At Standard Chartered Bank, Kundu’s role involved exploring and adopting AI in multiple areas (such as credit, financial crime compliance and customer analytics) and shaping the bank’s approach to data and AI governance across geographies. Previously, Kundu was an Associate Partner at McKinsey in London.
Kundu also heads up Truera’s newly opened office in Singapore, which serves Truera’s growing base of clients throughout Asia-Pacific – a region that is rapidly adopting AI.
“We are very pleased to have Shameek join our team. He brings a proven track-record in data management and AI governance, and a rich understanding of the regulatory and business priorities in the financial services industry,” said Will Uppington, CEO and co-founder of Truera. “We’re already seeing great traction in financial services, and Shameek’s direct experience will help accelerate that.”
“I am delighted to be part of the Truera journey,” said Kundu, “and to be working with such a talented team that shares my long-standing interest in the responsible use of data and AI. Truera is solving important problems for the financial services industry, ones that are recognized by firms and regulators alike, and the Truera team has developed unique technology and expertise to address these challenges. The opportunity to help grow this company and shape its path was extremely attractive to me.”
Truera also announced that it has opened an office in London designed to serve as a home base for the company’s European sales and support. “London is a worldwide financial services hub and the European Commission is at the forefront in exploring enhanced regulation of AI. We’ll be working on several pilots in the UK and Europe in early 2021,” said Uppington.
Truera came out of stealth in August 2020, and in December 2020 announced a $12M funding round to help accelerate go-to-market of its AI Model Intelligence Platform.
Truera’s model intelligence software removes the “black box” surrounding Machine Learning (ML) and provides intelligence and actionable insights throughout the ML model lifecycle – enabling companies to improve the quality and accuracy of their models, boost stakeholder collaboration, address responsible AI concerns including explainability and bias, and monitor ML models. Truera’s technology builds on six years of AI Explainability research performed at Carnegie Mellon University (CMU), which pioneered many of the methods that are becoming the standard for explaining popular ML models such as Tree models and Neural Networks. Building on this research, Truera’s AI explainability technology devised by Co-founders Anupam Datta, President & Chief Scientist, Truera and Professor, CMU and Shayak Sen, CTO, addresses deficiencies in the industry’s first-generation Open Source software, enabling faster and more accurate AI explanations and analytics.
The Truera platform is already deployed at and delivering value to a number of early Fortune 100 customers. Including Standard Chartered.