Refine Intelligence introduces a new paradigm for fighting financial crime by ‘catching the good guys.’ We enable banks to regain their ‘superpower’ of understanding customers’ life events that create changes in their financial activity. Our AML technology uses AI to automatically identify the life story behind each transaction monitoring alert.
2022
Website
www.refineintelligence.com
Target group
Banks/FS
Supported regions
Global
Contact
oren@refineintel.com
Company's motto
Catching the Good Guys
Member of industry associations and/or initiatives
ACFCS, ACAMS
Financial crime data provider and intelligence
Core solution/problems the company solves
Almost every alert an AML team investigates ends up being a totally legit customer activity. Refine spots the real-life story behind those alerts, cutting 90% of investigation time.
Cloud enabled
The Refine intelligence platform allows financial institutions to quickly clear away AML or Scam alerts that were actually triggered by legitimate customer activity. There are two methods to achieve that:
Digital Outreach allows a bank to reach out to customers automatically and collect their explanation to flagged anomalies in their account. The response is received within minutes. It is used to replace branch or call center work around AML or CDD/EDD.
Life Story Analytic is an AI model trained to automatically detect the legit life story behind an anomaly. It trains on a unique, proprietary dataset of validated customer explanations for anomalies in their account. It provides clear evidence for the detected life story and is used to significantly cut AML or Scam Investigation time.
Machine learning Supervised ML
Decision orchestration
Pricing model
Annual fee based on customer base tier
Fraud prevention partners
Information available upon request.
Investors
Glilot Ventures, SYN Ventures, GroundUp, Ori Eisen
Year-over-year growth rate
Confidential
Number of employees
10
Future developments
Auto-hibernation using Life Story Analytics
Customers reference
Top 50 US Bank + POCs implemented with additional Top 10 Banks