[AI Series] Revolutionizing Compliance With AI With Larry Shumbres

Larry Shumbres is the Founder and CEO of Archive Intel, an AI-powered compliance solution designed to streamline the archiving of electronic communications for financial institutions. Under his leadership, Archive Intel secured $1.5 million in seed funding to enhance its AI-driven compliance solutions. ​Larry is a seasoned fintech entrepreneur with over 20 years of experience in the financial technology sector, having held positions at leading firms such as Charles Schwab, Morningstar, and New York Life Investments. He founded and successfully exited Totum Risk, a pioneering risk tolerance platform acquired by TIFIN Wealth in 2020.

In this episode…

Legacy compliance software in the financial industry is outdated, expensive, and inefficient. Firms often struggle with manual processes, high rates of false positives, and a lack of visibility into their data — sometimes even being charged to retrieve it. Why are so many companies still stuck with tools that fail to meet the demands of today’s fast-paced, data-driven world?

Larry Shumbres, a fintech entrepreneur and expert in compliance and AI, offers a fresh take on modernizing the regulatory space. Drawing on decades of experience, he outlines how to replace tedious manual reviews with AI-powered agents that automate flagging, auditing, and proactive messaging. By focusing on intuitive design, customer feedback, and realistic AI implementation, Larry shares how firms can reduce false positives by up to 98% while cutting manual tasks by 85%. He also emphasizes the importance of staying personally involved with customers and regularly listening to their pain points to keep innovation alive.

In this episode of The Customer Wins, Richard Walker interviews Larry Shumbres, CEO of Archive Intel, about transforming compliance with AI in the fintech industry. Larry discusses building customer-first technology, challenges with legacy vendors, and why staying connected to users matters. He also covers the role of AI agents, proactive compliance, and the cost of outdated workflows.