How does Hawk's latest solution, Entity Risk Detection, help financial institutions identify entity risk during customer onboarding? In this risk scenario: - The bank exits a customer for having a risk score above the acceptable threshold. The customer had multiple SARs filed against them in 12 months. - The bank adds a new customer with a similar name The detection process: -During onboarding, Entity Risk Detection observes that the new customer shares phone number and address attributes with the exited customer. Entity Risk Detection alerts an investigator to the potential association - Entity Risk Detection calculates the risk rating of the new customer. The number of attributes shared by the new customer and the exited customer factor into the rating. - The investigator takes a closer look at the new customer and the exited customer’s profiles. - The investigator recommends that the bank not proceed with onboarding the new customer to prevent the risk from re-entering the organization. Read more here: https://lnkd.in/dacTq7tP Request a demo today and find out how Entity Risk Detection can help you to identify hidden financial crime with maximum efficiency: https://hawk.ai/ #aml #antimoneylaundering #fincrime #banking #payments #fraud #entityresolution #riskmanagement #onboarding #customeronboarding
Hawk
Finanzdienstleistungen
Munich, Bayern 7.821 Follower:innen
Fighting Financial Crime With Explainable AI
Info
Award-winning AML & CFT technology powered by explainable AI increases your risk coverage, helps you identify more crime, and reduces your false positives. Combine AML transaction monitoring, payment screening, and pKYC in one tool & add fraud detection for even more comprehensive coverage.
- Website
-
http://www.hawk.ai
Externer Link zu Hawk
- Branche
- Finanzdienstleistungen
- Größe
- 51–200 Beschäftigte
- Hauptsitz
- Munich, Bayern
- Art
- Privatunternehmen
- Gegründet
- 2018
- Spezialgebiete
- AML, Anti Money Laundering, RegTech, AI, FinTech, Crypto, Scalable compliance, SaaS, Self-Learning systems, Machine Learning und Compliance
Orte
-
Primär
Friedenstraße
22B / i3
Munich, Bayern 81671, DE
Beschäftigte von Hawk
Updates
-
If you're going to the Handelsblatt Banking Summit in Frankfurt next week, be sure to join our session on Sept 4. Maximilian Riege, LL.M. (NYU) will be talking about Integrating AI-Powered Solutions in Banking through Partnership Models Between Banks and Fintechs. Maximilian will be joined by Fabian Platzen and Marco Di Sazio to discuss: - What can AI help with and what use cases already exist in the fintech environment - Make or buy: which AI-supported services can create added value for banks - Innovation meets regulation: interaction between banks, fintechs and supervisory bodies Hawk will also be represented by Natalie Schleiz - get in touch if you'd like to meet for a conversation about explainable AI and how it could be helping your organization. If you can't make it to the event, contact Hawk via our website for a demo if you'd like to know more about our platform for AML and fraud prevention: https://hawk.ai/ #handelsblatt #bankingsummit #aml #fincrime #antimoneylaundering #ai #artificialintelligence #bankingtech #banking #fintechs #financialinstitutions
-
-
The demand for AI across a range of AML/CFT use cases continues to grow. It's now a given that financial institutions are using AI to reduce false positives and negatives, as this data from GSMA shows. FIs also see value for AI in transaction monitoring and behavioral analysis, while almost three quarters are looking to AI for network analysis - and we expect that to increase rapidly, as Heads of Risk and Compliance see results from solutions like Hawk's Entity Risk Detection. Hawk's explainable AI is helping banks and payment organizations to significantly increase the effectiveness of their AML detection (find more crime) while also increasing efficiency (reduce false positives). Request a demo now to see how it works: https://hawk.ai/ #aml #fincrime #artificialintelligence #ai #antifraud #frauddetection #gsma #financialinstitutions
-
-
In its recent statement, The Wolfsberg Group set out guidance for financial institutions on why monitoring for suspicious activity (MSA) should be a priority over monitoring of transactions only. Here are five takeaways: 1. MSA system effectiveness should be prioritized over direct equivalence with legacy platforms 2. Detecting crystalized financial crime risk rather than theoretical risk should be a focus 3. Sandbox development should be embraced instead of parallel processing 4. Customer and transaction risk need to be monitored, rather than just transactions 5. Banks need technology that supports an MSA approach, providing access to real-time, contextual insights using machine learning, cluster analysis, entity resolution, and graph network analysis Read the full article: https://lnkd.in/eaR-Qxx5 If you'd like to know more about how Hawk can help you to implement an MSA approach to anti-financial crime, request a demo: https://hawk.ai/ #aml #fincrime #wolfsberggroup #compliance #banking #payments #frauddetection #ai #artificialintelligence #suspiciousactivity
-
-
False Positives...Will We Ever Get Rid of Them? If you ask yourself the same question, then you'll enjoy Hawk's session at the Datos Insights' Financial Crime and Cybersecurity Forum this week. Our VP of Strategy, Chris Caruana (MBA, CAMS), will be covering: - How close are we to completely eliminating false positives? - The role of AI and advanced analytics in detection accuracy and false positive reduction - The impact of false positives on regulatory reporting and audit processes The event takes place in Charlotte, NC, on Tuesday and Wednesday this week. If you'd like to meet with us, you can pre-book a meeting here: https://lnkd.in/deZ_ZkRN See you there! #aml #fincrime #datosinsights #fincrimeforum #banking #bankingtech #compliance #ai #machinelearning #cybersecurity #falsepositives
-
-
What happens at ACAMS Vegas...could change the future of financial crime detection! Join the Hawk team from September 23-25 at the ARIA and find out we're helping financial institutions to prevent and detect more crime with greater efficiency. To get the most from your time at the event, book a meeting with Hawk and hear the latest on what AI could do for your organization. https://lnkd.in/dD3d8QX3 You can find us at booth 310 where the Hawks will be on hand to answer your questions, including Michael Shearer, Steve Liu, Bryant Bland, Paola Battisti, Jeff Shikowitz and Michaela Caizzi. If you can't make it to ACAMS Vegas this year, find out how Hawk can help your anti-financial crime operation. Visit https://hawk.ai/ to request a demo. #aml #fincrime #acams #acamsvegas #banking #bankingtech #compliance #artificialintelligence #ai #machinelearning
-
-
How can banks implement AI for anti-financial crime without ripping and replacing their legacy systems? Deloitte and Hawk have teamed up to produce this insightful paper on using an AI overlay approach. In the whitepaper Martin Hirtreiter, Dr. Robert Schmuck and Moritz Schneider from Deloitte and CPO and Co-founder at Hawk, Wolfgang Berner discuss the options that financial institutions have for implementing AI. The key areas of focus: - How can financial institutions manage the transition to AI from legacy AFC systems? - What is an AI overlay and what value does it offer? - What are the different types of AI overlay? - What are the main considerations when implementing an AI overlay? Read the full white paper, AI in Anti-Financial Crime: Using an Overlay to Leverage AI Without Ripping and Replacing a Legacy Solution - https://lnkd.in/dJ6dEDwQ #fincrime #aml #afc #ai #artificialintelligence #deloitte #banks #fraud #antimoneylaundering #aioverlay #legacysystem #whitepaper
-
-
Why should financial institutions prioritize monitoring for suspicious activity (MSA) over monitoring of transactions only? The Wolfsberg Group in its recent statement advised that "customer behavior and customer attributes, when combined with the consideration of transactions, can provide a broader insight into potentially suspicious activity.” In our article, we highlight five key takeaways from the Wolfsberg statement and provide an example of how monitoring both customer risk and transaction risk is more effective for banks than focusing on transaction monitoring only. - A bank’s customer sends $1,000 to 5 separate payees. Without any additional context, it’s difficult to determine whether this behavior is truly of concern. - The additional information that all five of the payees were created simultaneously at an unusual time of day helps to identify the behavior as suspicious. - If a bank uses an MSA system that can effectively analyze both transaction and customer data, it will identify more of these connections and surface them for investigation. Read the full article: https://lnkd.in/dd7EuF_7 If you'd like to know more about how Hawk can help you to implement an MSA approach to anti-financial crime, you can request a demo here: https://lnkd.in/dcXNrk6s #aml #fincrime #wolfsberggroup #compliance #risk #banking #payments #frauddetection #ai #artificialintelligence #transaction #suspiciousactivity
-
-
How do Large Transaction Models (LTMs) identify money mule behavior using AI? Our Chief Product Officer and Co-founder, Wolfgang Berner, explained in a recent conversation with PYMNTS how Hawk's LTMs apply the same intelligence used in Large Language Models (LLMs) to recognize hidden patterns in transactions. "As an example, an LLM can connect the words 'board game' mentioned in one sentence with the word 'play' in another, even though they're separated by other words," he explains. "In a similar way, our LTM can spot relationships between transactions, like an outgoing and incoming transfer, which may indicate money mule behavior." Watch the 1-minute video, or read the full article for further insight here: https://lnkd.in/evTB4zyn #fincrime #aml #afc #ai #artificialintelligence #banks #fraud #risk #genai #traditionalmodel #largetransactionmodels #ltms
-
How can financial institutions benefit from using one integrated solution for fraud and AML? FRAML can help you to detect more crime, more quickly, while streamlining investigations. It provides a comprehensive approach that combines fraud detection with anti-money laundering (AML) measures. This unified framework allows financial institutions to enhance their risk management capabilities, uncover interconnected criminal schemes, and mitigate the potential financial, reputational, and legal risks associated with fraudulent transactions and money laundering. Find our full article on FRAML here: https://lnkd.in/dXQxbsNk If you'd like to know more about how Hawk's unified platform enables a FRAML approach within your organization, request a demo today at: https://lnkd.in/deu5jQxb #fincrime #aml #framl #fraud #ai #artificialintelligence #financialinstitutions #frauddetection
-