Fraud and threat platform DataVisor launched its anti-money laundering (AML) resolution this week.
The brand new providing combines fraud combating and anti-money laundering operations in a unified, method that helps establishments higher cope with rising threats and evolving rules.
DataVisor made its Finovate debut at FinovateFall final September.
AI-powered fraud and threat platform DataVisor launched its end-to-end anti-money laundering (AML) resolution this week. The expertise leverages refined machine studying and AI to cowl all the AML course of with out disrupting the client’s current workflows.
Natively integrating with DataVisor’s fraud platform, the brand new providing allows a unified fraud and anti-money laundering (FRAML) technique. This enhances protection in opposition to new monetary crime threats and helps establishments align themselves with the development towards combining fraud combating and AML operations. DataVisor’s AML expertise is customizable, helps a variety of AML threat profiles and packages, and improves effectivity by lowering the variety of false positives.
Extra particularly, DataVisor’s new AML resolution supplies:
Complete end-to-end performance: together with buyer threat ranking, CDD, EDD, sanction/watchlist screening, transaction monitoring, case administration, and automatic SAR submitting.
Enhanced detection and lowered false positives: leveraging strong information orchestration to offer a holistic view of buyer profiles for more practical threat evaluation.
Elevated operational effectivity and lowered prices: courtesy of Generative AI-powered automation which triages alerts and automates handbook processes.
Centralized insights and monitoring: utilizing enhanced job prioritization to ship insights into AML alerts, case statuses, and the progress of evaluate groups.
Quick and versatile integration: by way of a cloud-based resolution that integrates with current fraud workflows for quick implementation.
“The substantial curiosity we’ve seen from monetary establishments highlights the crucial want to handle the challenges posed by outdated, legacy AML expertise,” DataVisor co-founder and Chief Product Officer Fang Yu stated. “FIs partnering with DataVisor are already witnessing the advantages of our industry-leading FRAML resolution. Our concentrate on continued innovation ensures that we not solely meet the present compliance demand but additionally stay agile to anticipate and counteract future monetary crimes.”
Headquartered in Mountain View, California, DataVisor made its Finovate debut final September at FinovateFall. On the convention, the corporate confirmed how its platform supplies a complete, AI-powered fraud and threat platform for all the fraud workflow in a single, self-serve resolution. DataVisor demonstrated the platform’s skill to combine any information supply – together with third celebration information sources – and apply its guidelines engine, gadget intelligence, choice engine, and case administration to enhance fraud detection.
Based in 2013, DataVisor started this yr with an announcement that the corporate’s platform had secured PCI compliance. A month later, the corporate unveiled a brand new resolution to provide sponsor banks higher skill to observe and handle Financial institution Secrecy Act (BSA) compliance and transaction fraud patterns. The answer additionally allows establishments to conduct a complete buyer threat evaluation in partnership with fintechs.
In keeping with Crunchbase, DataVisor has raised greater than $94 million in funding. The corporate consists of TruStage Ventures and NewView Capital amongst its traders. Co-founder Yinglian Xie is CEO.
Picture by Markus Spiske
