DataVisor launches AI-enabled solution AML solution

Wednesday 27 March 2024 15:04 CET | News

US-based fraud and risk management company DataVisor has announced the launch of its end-to-end Anti-Money Laundering (AML) solution for covering the entire workflow. 

As per the information detailed in the press release, DataVisor introduced an AML solution that includes technology and comprehensive functionalities enabled by machine learning and artificial intelligence (AI). Considering the increasing regulatory compliance requirements and the expanding complexity of financial crime tactics, the solution is set to cover the entire AML workflow, while also being compatible with customers’ current systems.

US-based fraud and risk management company DataVisor has announced the launch of its end-to-end Anti-Money Laundering (AML) solution for covering the entire workflow.

DataVisor’s AML solution capabilities

With its AML solution, DataVisor intends to remove the inefficiencies of disconnected processes of legacy systems, while also proactively enhancing the detection of new and emerging money laundering activities, mitigating the risks of regulatory fines. Some of the features underlined by DataVisor include:
  • Comprehensive end-to-end functionality that integrates customer risk rating, CDD/EDD, sanction and watchlist screening, transaction monitoring, case management, and automated SAR filing, ensuring simplified AML processes and full regulatory compliance;

  • Improved detection and minimised false positives, with the solution offering a view over customer profiles via robust data orchestration. DataVisor’s solution facilitates more effective risk assessment and decision-making, achieving reduced false positives and detection of real money laundering activities;

  • Increased operational efficiency and reduced costs with automation enabled by generative AI;

  • Centralised insights and monitoring via its dashboard and reporting which provide insights into AML alerts, case statuses, and the progress of review teams;

  • Flexible integration with existing fraud workflows, ensuring accelerated implementation and providing adaptability to meet the requirements of financial institutions.

According to Datos Insights’ officials, considering that achieving effective financial crime frameworks represents an issue as the industry has expanded and criminal attacks have become more sophisticated, DataVisor’s AML solution focuses on providing end-to-end capabilities, flexibility, and configurability. These can enable organisations to transform their AML practices and adapt to a changing landscape. Moreover, representatives from DataVisor underlined their commitment to enabling its customers with solutions and technologies that mitigate financial crimes more effectively and efficiently. The company aims to focus on continuing the advancement of the industry and meet the current compliance demands, while also anticipating and counteracting future financial crimes.

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Keywords: product launch, money laundering, AML, fraud prevention, fraud management
Categories: Fraud & Financial Crime
Companies: Datavisor
Countries: World
This article is part of category

Fraud & Financial Crime


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