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NEW YORK, NY – February 13, 2024 – Grasshopper, the client-first digital bank built for the business and innovation economy, and Greenlite, the leading generative AI platform for compliance teams, today announced their partnership to leverage Greenlite’s AI-enhanced due diligence suite to bolster Grasshopper’s risk decisioning proficiency for small and medium-sized business (SMB) and startup clients. This strategic collaboration furthers both companies’ missions of bridging connections across the financial technology (fintech) ecosystem and driving AI investments. 

Grasshopper has experienced tremendous growth over the last year, welcoming thousands of new SMB and startup clients to its digital platform, which has been in part fueled by innovative partnerships with best-in-class fintech companies. The Bank will utilize Greenlite’s platform to scale their industry-leading customer due diligence (CDD) program, supporting the compliance team’s ability to monitor and address client risk with advanced automation.

“We’re excited to partner with Greenlite as an industry-leader in generative AI to enhance our team’s ability to identify and mitigate risks that are inherent to the digital world,” said Chris Mastrangelo, Chief Compliance Officer of Grasshopper. “Greenlite’s pioneering AI-based automation will significantly bolster our capabilities in discerning client risk, offering our team accurate and comprehensive compliance insights. This will allow us to scale more efficiently and better serve our client base, all under the umbrella of top-tier compliance technology.”

Greenlite provides financial institutions around the world the ability to automate rigorous customer due diligence with generative AI. Its platform streamlines manual data aggregation, document reviews, and risk assessments, allowing financial institutions to onboard, periodically review, and investigate more business customers with ease. Greenlite recently raised $4.8M from top Silicon Valley based investors like Greylock, Y Combinator, and General Catalyst, and supports customers across three continents. 

“We’re thrilled to partner with Grasshopper Bank to bolster their customer due diligence program,” said Will Lawrence, Chief Executive Officer of Greenlite. “As one of the most innovative US banks, Grasshopper demonstrates that integrating cutting-edge compliance AI is essential to offering superior client service while maintaining an exceptional compliance posture.”

To learn more about Greenlite, visit For more on Grasshopper, visit

About Grasshopper Bank

With total assets of approximately $733 million, Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries, and a passionate team of experts with deep expertise in their fields. Grasshopper’s banking solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Headquartered in New York City, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit the bank’s website at or follow on LinkedIn and Twitter.

About Greenlite

Greenlite is the leading generative AI platform for financial services companies. Its platform augments risk and compliance teams with intelligent AI workflows across account opening, customer due diligence and anti-money laundering operations. Greenlite’s enterprise-grade AI is trusted by financial institutions across three continents, enabling them to increase workforce capacity, ensure ongoing compliance and enhance business growth. Greenlite is based in San Francisco and is backed by Silicon Valley’s top investors, including Y Combinator, Greylock and General Catalyst. For more information, visit Greenlite’s website at or follow on LinkedIn.

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