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Home DeFi

Hawk AI and Diebold Nixdorf Associate for New AML Surveillance and Fraud Prevention Resolution

September 9, 2022
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  • New Finovate alum Hawk AI introduced a collaboration with Diebold Nixdorf.
  • The partnership will facilitate the distribution and implementation of Hawk AI’s AML Surveillance and Fraud Prevention suite to banks.
  • Hawk AI made its Finovate debut earlier this yr at FinovateSpring in San Francisco.

Hawk AI, a fraud-fighting and AML platform primarily based in Germany, introduced a brand new partnership with fellow Finovate alum Diebold Nixdorf. Collectively, the 2 corporations will collaborate to distribute and implement Hawk AI’s AML Surveillance and Fraud Prevention suite in banks to allow them to fight monetary crime extra successfully. The preliminary concentrate on the collaboration will probably be in Germany, Austria, and Switzerland, and can make it simpler for Diebold Nixdorf clients particularly to entry Hawk AI’s monetary crime combating know-how.

Hawk AI CEO and co-founder Tobias Schweiger mentioned that the willingness of economic establishments to undertake know-how like Hawk AI’s AML Surveillance and Fraud Prevention suite is because of each “operational concerns” in addition to the calls for of regulatory authorities, that are “beginning to ask for solutions to fast-changing monetary crime traits which not may be addressed with previous know-how and an excessive amount of labor.” As a substitute, Schweiger mentioned, Hawk AI’s partnership with Diebold Nixdorf helps alleviate one of many crucial issues to answering these regulatory queries; specifically the problem of implementing newer, higher monetary crime combating know-how. Schweiger credited Diebold Nixdorf for having the “sturdy know-how, {and professional} providers capabilities” to make implementation simpler and fewer dangerous for patrons.

“We’re thrilled to work with Hawk AI, a pioneer in explainable AI-powered AML and trendy fraud prevention,” Diebold Nixdorf Director Options DACH Walter Gries mentioned. “Whereas combating new fincrime methods is urgently wanted, monetary establishments should guarantee a clear course of the place frontline staff, auditors, and regulators belief the outcomes. Hawk AI’s techniques present this belief, and we sit up for bringing the know-how to new monetary establishments collectively.”

Based in 2018 and headquartered in Munich, Germany, Hawk AI made its Finovate debut at FinovateSpring earlier this yr. On the occasion, the corporate demoed its know-how that mixes AI with conventional, rule-based methods to observe monetary transactions in real-time. When suspicious exercise is noticed, the platform sends alerts to monetary crime specialists for additional investigation. This helps restrict the quantity of false positives that may weigh-down the effectiveness of a monetary crime resolution and create undesirable friction for patrons.

Hawk AI’s partnership with Diebold Nixdorf comes only one month after the German firm reported that it was working with KYC and buyer onboarding specialist Ondato. Introduced final month, Hawk AI and Ondato have teamed as much as supply an built-in KYC validation course of that options AML transaction monitoring and behavioral evaluation. Ondato CEO and co-founder Liudas Kanapienis highlighted this facet of the partnership in his assertion, noting that the collaboration will allow Ondato to “increase consumer onboarding and compliance administration in the direction of conduct monitoring.”

Additionally in August, Hawk AI teamed up with Aux, a credit score union service group (CUSO) that serves greater than 200 credit score unions within the U.S. The partnership will make it simpler for credit score unions to entry Hawk AI’s monetary fraud and AML options. Aux VP of Compliance Companies Gaye DeCesare praised Hawk AI’s know-how as “simpler to make use of and more economical than different legacy merchandise available on the market as we speak.” DeCesare additionally underscored the truth that HAWK AI’s know-how is “enhanced with new options and performance” frequently.


Photograph by PhotoMIX Firm



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