- Fraud and danger platform DataVisor launched its anti-money laundering (AML) answer 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 laws.
- DataVisor made its Finovate debut at FinovateFall final September.
AI-powered fraud and danger platform DataVisor launched its end-to-end anti-money laundering (AML) answer this week. The know-how leverages refined machine studying and AI to cowl all the AML course of with out disrupting the shopper’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 pattern towards combining fraud combating and AML operations. DataVisor’s AML know-how is customizable, helps a variety of AML danger profiles and packages, and improves effectivity by decreasing the variety of false positives.
Extra particularly, DataVisor’s new AML answer supplies:
- Complete end-to-end performance: together with buyer danger 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 supply a holistic view of buyer profiles for more practical danger 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 overview groups.
- Quick and versatile integration: through a cloud-based answer that integrates with current fraud workflows for quick implementation.
“The substantial curiosity we’ve seen from monetary establishments highlights the crucial want to deal with the challenges posed by outdated, legacy AML know-how,” DataVisor co-founder and Chief Product Officer Fang Yu stated. “FIs partnering with DataVisor are already witnessing the advantages of our industry-leading FRAML answer. Our give attention to continued innovation ensures that we not solely meet the present compliance demand but in addition 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 danger platform for all the fraud workflow in a single, self-serve answer. DataVisor demonstrated the platform’s skill to combine any information supply – together with third celebration information sources – and apply its guidelines engine, system 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 answer to offer sponsor banks higher skill to watch and handle Financial institution Secrecy Act (BSA) compliance and transaction fraud patterns. The answer additionally allows establishments to conduct a complete buyer danger evaluation in partnership with fintechs.
In line with Crunchbase, DataVisor has raised greater than $94 million in funding. The corporate contains TruStage Ventures and NewView Capital amongst its buyers. Co-founder Yinglian Xie is CEO.
Photograph by Markus Spiske
