An Indian-origin technology professional, who played a critical role in safeguarding Apple Pay from terrorist misuse, has made a dramatic career shift. Kalyani Ramadurgam has left her high-stakes corporate role to co-found an artificial intelligence startup, a move that has now earned her a prestigious spot on the Forbes 30 Under 30 United States 2026 list in the finance category.
From Apple's Frontlines to Identifying a Market Gap
Based in New York, Ramadurgam holds a computer science degree with a specialisation in artificial intelligence and machine learning. At Apple, she was entrusted with a highly sensitive responsibility: preventing terrorist organisations from misusing the Apple Pay platform. Her work involved ensuring individuals on global terrorism watchlists were blocked from accessing the payment service.
However, during her tenure, Ramadurgam identified a significant disconnect. Despite Apple's cutting-edge technology, she observed that compliance processes within the company and the broader financial industry were slow, manual, and inefficient. "Organisations were just throwing bodies at the problem," she remarked to Forbes, highlighting how large teams were needed to review endless documentation.
She extended this observation to major financial institutions, noting their reliance on outdated methods for document verification, risk assessment, and meeting regulatory demands. These inefficiencies, she found, not only strained operations but also exposed companies to heightened financial and security risks.
Building Kobalt Labs: AI for Smarter Compliance
Spotting this widespread industry challenge, Ramadurgam decided to act. In 2023, she teamed up with former Affirm software engineer Ashi Agrawal to launch Kobalt Labs. The startup's mission is to transform compliance for banks and fintech companies through machine learning.
The tools developed by Kobalt Labs are designed to automate and accelerate compliance reviews. They help financial institutions evaluate potential partners, monitor financial documents, and identify risks with far greater speed and accuracy. Ramadurgam emphasises that the technology is built to support human compliance teams, not replace them, by eliminating repetitive tasks and minimising errors.
Recognition and Rapid Growth
The startup's innovative approach has already garnered significant traction and capital. To date, Kobalt Labs has raised $13 million in funding and boasts a growing clientele of over 20 customers. This includes notable names like the fintech platform Bilt and Celtic Bank.
Ramadurgam's inclusion in the Forbes 30 Under 30 list for 2026 validates her entrepreneurial vision. Her journey from protecting a global payment system at Apple to building a company that addresses the foundational compliance headaches of the financial world showcases a direct application of her expertise. The core mission of Kobalt Labs is a direct reflection of the challenges she first encountered on the job, now scaled into a commercial solution with the potential to redefine industry standards.
