Year partnered with Savant: 2023
Sector: AI/ML
Industry: Financial Services
Product: Locstat LightWeaver® provides: a high-performance graph intelligence platform for graph querying, mining, analytics, AI / machine learning (ML) and complex event processing.
Market Size: (Local) ZAR 3.6 billion (Global) USD 4.1 billion
Differentiation: Lightning-fast customer integration, Technology stack and proprietary LightWeaver software.
Investment Stage: Seed
Stage: Venture & Grow Internationally
Founding Team: Sanjay Daya, Ryno Goosen, Hallam Ford, Waldick Herbst
Locstat
About Locstat
Founded in 2004, Locstat is a distinguished deep-tech graph technology company, established by Ryno and Sanjay. Committed to pioneering innovative data processing solutions, Locstat has undergone strategic pivots and cultivated substantial industry experience, particularly in the realm of graph technologies. The Locstat graph intelligence platform, a testament to this dedication, offers a suite of customer-driven solutions spanning fraud detection, AML/CFT compliance monitoring, customer retention management, geospatial analysis, and behavior modeling. This comprehensive suite caters to diverse sectors, including financial services, retail, supply chain, manufacturing, and security.
Central to Locstat’s capabilities is its flagship Light WeaverTM software—a proprietary asset facilitating seamless integration and ingestion of extensive datasets from disparate systems and infrastructure devices. Leveraging years of industry expertise, Locstat’s emphasis on graph technologies enables timely decision-making support across operational departments, mitigating risks, optimizing efficiency, enhancing customer satisfaction, and ultimately bolstering profits. Rooted in its origins of information management for Eskom and pioneering shipping geospatial solutions, Locstat has evolved into a leader, providing businesses with sophisticated actionable intelligence through state-of-the-art graph technology.
Value Proposition
Locstat shields customers from the complexity of next-gen advanced analytics technology, with a quick time to value and rapid ROI. The platform was built to incorporate a customer’s contextual elements when ingesting data and enabling continuous innovation against evolving threats and business challenges through unlimited rules and ML models. The platform was deliberately designed to enable customers to be self-sufficient to build and operationalise these rules and ML models without a dependency on Locstat. Using Locstat, customers reduce fraud by up to 35% and at the same time reduce false positives by 90% which in turn reduces operational overheads associated with risk management by 50%. The platform produces both negative (risk) and positive (cross & upsell) insights from the same data sets, negating the need for multiple vendors to improve operations across multiple departments.
