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Exiger acquires Convergent Solutions; hires former FBI forensic accounting lead

Source: Exiger

Exiger, the global leader in technology-enabled regulatory, financial crime, risk and compliance solutions, announced the acquisition of Convergent Solutions Inc., a leading business specializing in the delivery of intelligence analysis, cybersecurity and national security solutions to the Federal Government.

Combined with Convergent, Exiger will expand the deployment of its proprietary AI products to more effectively solve the Federal Government's most complex, data-driven challenges.

The Federal Government is increasingly leveraging analytics and machine learning to make rapid and more informed decisions. Like the private sector, the government is burdened with complex data sets for screening, vetting and due diligence, along with mitigating fraud, waste and abuse. Programs such as the continuous vetting of cleared personnel, law enforcement and litigation investigations, vendor due diligence, and supply chain risk analysis are consistently challenged with analyzing and interpreting massive volumes of information.

Exiger's technology-based solutions augment complex mission-critical programs with purpose-built AI, enabling federal agencies to realize transformative improvements that yield actionable results and cost savings.

DDIQ, the AI-based automated vetting and continuous monitoring platform, offers federal agencies a fully auditable tool to conduct consistent due diligence, accelerate the speed of analytics in their mission and transform data into actionable intelligence. Exiger's third-party management platform Insight 3PM leverages DDIQ and will help federal agencies streamline supply chain risk management and vendor oversight. Exiger Intelligence, a data analytics and eDiscovery solution, uses cognitive computing and natural language processing to accelerate and automate decision making in document and financial records review.

"Exiger is excited to bring our leading technology solutions to the federal market," said Michael Cherkasky, co-founder and Executive Chairman of Exiger. "Our products, combined with Convergent's world class employees, industry credentials and experience, can help solve the Federal Government's biggest challenges related to information management, vendor and personnel vetting, and mission critical risk identification and mitigation."

With over 20 years of experience in the Federal Government, Convergent Solutions is a proven federal contractor with an outstanding track record of delivering technical solutions, data analysis and security support to its customers. Convergent Solutions will operate as a wholly-owned subsidiary and significantly expand Exiger's client footprint across the Federal Government, including the Department of Defense, the intelligence community, and civilian agencies.

"Pairing Exiger's AI-powered products and expertise with Convergent's capabilities, customer intimacy and subject matter experts gives us unique advantages when delivering on the Federal Government's technology objectives," said Adam Lurie, the CEO of Convergent Solutions. "This transition will allow us to better serve our customers as we continue to apply state of the art, data-driven solutions that will radically improve the speed of mission response in multiple areas of the Federal Government."

Seperately, the firm announced that Renee Michael, a senior forensic accounting and investigations expert, has joined the company to drive continued growth of its advisory and government services businesses. Renee will serve as an Associate Managing Director based in Exiger’s offices in the Washington D.C. Metro area.

“Today’s challenges to managing financial crime risk and complex investigations are onerous,” said Ms. Michael. “The sheer amount of data generated by corporations and government agencies requires combining people, process, and technology to tackle these issues. Exiger employs countless subject matter experts, who help clients knit together tech-enabled solutions to manage risk, address breaches and disrupt bad behavior. I look forward to using my investigative experience at Exiger to enable our clients, both in the public and private sectors, to more effectively fight global financial crime.”

Before joining Exiger, Renee built a distinguished career at the Federal Bureau of Investigation (FBI), where she was a Program Manager in the Forensic Accountant Unit at FBI Headquarters, managing a team of forensic accountants and providing technical guidance, training, and investigatory insight to accountants, special agents, and prosecutors. She has been involved in a wide range of high-profile matters, including Foreign Corrupt Practices Act (FCPA), money laundering, counterintelligence, health care fraud, bank fraud, mortgage fraud, and securities fraud.

Exiger Executive Chairman Michael Cherkasky said, “Renee’s diverse skill set and experience embody Exiger’s integrated approach to client services. Her investigations insight gives her a rare vantage point to understand and support our government and corporate clients’ needs.”

A CPA and Certified Fraud Examiner, Renee has testified in multiple trials, including the successful federal corruption trial of a sitting member of the U.S. Congress. She has also received the Department of Justice’s Criminal Division Assistant Attorney General Award.

George McEachern, Exiger Managing Director and former FBI International Corruption Unit Chief, recruited Renee to assist him in building a new International Corruption Squad when they both worked at the FBI.

“I am thrilled to have the opportunity to work with Renee once again,” said McEachern. “She is a recognized expert when it comes to understanding complex money flows and international banking, resulting in a unique ability to identify the critical transactions often hidden in the grey noise of immense data sets. Her expertise, paired with Exiger’s innovative solutions, will change the game in how we arm our clients to root out risk and protect our global markets from bad actors.”
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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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