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NewProducts
NewProducts

Real-time, compliant transaction surveillance

ily fitting into existing compliance infrastructures, and its
software-as-a-service subscription model makes it easy to
maintain, update and deploy, Doron stated. When changes
and new rules become available, Hawk AI swiftly imple-
ments and updates systems to stop perpetrators and keep
participating members compliant.

The "explainability" factor builds trust and helps bring
transparency by making AI decisions understandable to
awk AI, a global provider of advanced anti- humans, Doron noted, adding that the system documents
fraud solutions, enhanced its AML (anti-money interactions and case reports for auditors and regulators.
laundering) Transaction Monitoring. Designed These improved efficiencies, combined with machine learn-
H to reduce false positives and detect outlier ing that reduces false positives and detects anomalies can
behavior, the solution combines a rules-based approach further reduce caseloads and related costs while improving
with machine learning and explainable AI, according to detection, he added.
Michael Doron, managing director at Hawk AI.
Hawk AI's expanding database, ready-to-apply models
"FinCEN advocates the use of technology to fight money from a shared pattern repository, and anomaly detec-
laundering but requires 'explainability' in the decisioning tion provide insights that companies would never have
process," Doron said. "If you're sitting across the table from identified without the assistance of advanced technologies,
an auditor, you need to be able to explain how and why Doron stated. Hawk AI's unsupervised methodology can
an operator decided on an alert. We provide easy to un- reduce false positives by up to 70 percent, he added, noting
derstand, natural language that explains AI decisioning." that a growing digital economy requires robust digital pay-
Doron additionally noted that Hawk AI's fraud suite com- ments infrastructure.
plements the company's technology stack, and clients can
selectively implement modules, including comprehensive Future proof
data screening, customizable rule sets, machine learning
and contextual replays to detect anomalies. Rules by themselves cannot detect outliers. As individuals
and organizations acclimate to digital-first environments,
Partner proven Hawk AI's fraud suite and AML transaction monitoring
will easily scale and adapt to ever-changing needs and
Experienced Hawk AI leaders previously built PAY.ON, an regulatory requirements, Doron stated. "As more FIs and
SaaS-based international gateway acquired by ACI World- countries adopt local and cross-border real-time payment
wide in 2015. Today, the company provides network analy- systems, we will see payments continue to clear and settle
sis and federated pattern sharing to acquirers, processors, faster," Doron said. "We'll also see payments become more
ISOs, ISVs, payment facilitators, technology platform en- embedded in the business processes they serve, making the
ablers, money service businesses and financial institutions, process of initiating payments faster and easier for end cus-
Doron noted. "FinCEN advocates making it easier for fi- tomers."
nancial institutions to share information to identify bad ac-
tors and let them use technology to help detect suspicious As he reflected on payments industry trends, Doron noted
activity more efficiently without breaching privacy laws," that mergers and acquisitions have left payment providers
Doron said. "We strongly believe good actors need to band with multiple platforms, sponsoring banks and legacy solu-
together to fight financial and organized crime and get it tions, many of which cannot evolve and adapt to new, com-
out of our payment institutions." plex scenarios and ever-changing AML regulations. As bad
actors continue to challenge traditional rule-based systems
Doron went on to say that Hawk AI solutions are intuitive, and exploit new entry points, Hawk AI has the know-how
flexible and easy to implement, and the company's develop- and experience to develop, scale and continuously adapt,
er portal, sandbox environment and RESTful API facilitate he said.
fast integrations. In a matter of months, partners can be up
and running, monitoring the entire transaction lifecycle,
from onboarding and KYC, through transaction monitor-
ing, to automated SAR filings using a built-in SAR e-filing Company: Hawk AI
tool, he added Product: AML Transaction Monitoring

Enhanced capabilities Website: https://hawk.ai/en/
Contact: michael.doron@hawk.ai
Created by knowledgeable industry leaders, the platform
can significantly reduce costs and time to market while eas-
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