INFORM, BigML partner to fight financial crime with AI technology

Tuesday 1 October 2019 10:12 CET | News

INFORM and BigML have agreed to terms on a preferred partner program to fight against financial crime with RiskShield.

Under the agreement, INFORM will be developing and offering access to RiskShield ML, powered by BigML. RiskShield ML serves as an add-on to the current RiskShield machine learning offering, making model creation accessible to all organizational functions of its customer base. Customers can develop and train their own models, which can be validated and applied in real time for detecting new modus operandi of financial criminals. INFORM’s proprietary interface to BigML allows for the seamless integration of data regarding, among other things, transaction decisions, which will be used to train and update the financial crime fighting models.

BigML’s promise to bring machine learning to everyone combined with RiskShield’s decision engine further enables financial institutions to take a hybrid Artificial Intelligence (AI) approach to their fraud and money laundering prevention efforts. On the one hand, users benefit from knowledge-based methods such as mixed logic rule sets, fuzzy logic scorecards, dynamic profiling and blacklists. Moreover, RiskShield ML, powered by BigML, offers users the ability to take historical transactional data and learn from the decisions using both supervised and unsupervised learning methods.

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Keywords: Inform, BigML, financial crime, RiskShield ML, fraud prevention
Countries: World