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Allegacy Financial Selects Kobalt Labs to Replace Legacy Systems and Unify TPRM, ERM, and Compliance on an AI-Native Platform

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Allegacy Financial Selects Kobalt Labs to Replace Legacy Systems and Unify TPRM, ERM, and Compliance on an AI-Native Platform

Allegacy Financial, one of North Carolina’s largest credit unions with approximately $2.6 billion in assets and more than 188,000 members, has selected Kobalt Labs to replace its legacy risk and compliance system. Allegacy is migrating third-party risk management (TPRM), enterprise risk management (ERM), compliance management, business continuity, contract management, and related functions to Kobalt’s AI-native platform.

The full migration brings Allegacy’s risk and compliance program into a single platform, with AI agents driving work across those functions. After evaluating several solutions, the credit union selected Kobalt to reduce manual reviews, coordination between subject matter experts, and the administrative burden of maintaining separate modules.

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“We needed a platform that could do more with the team we have, not one that created more work managing it,” said Timothy Moore, Chief Legal Officer at Allegacy Financial. “Kobalt stood out because it replaced the patchwork of modules we were managing and gave us a single place to handle vendor risk, regulatory tracking, and policy oversight.”

Kobalt’s AI agents perform document reviews, assess controls, identify policy gaps, track regulatory changes, and generate risk assessments and issues. Teams review findings, make decisions, and manage remediation in the same platform, with source citations and audit trails supporting the work.

“Risk and compliance teams have spent years working across disconnected systems that create more administrative work than they eliminate,” said Kalyani Ramadurgam, CEO of Kobalt Labs .



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