Ondato partners with Hawk AI to offer an integrated AML and KYC suite

Thursday 25 August 2022 08:04 CET | News

UK-based fraud prevention company Ondato has teamed up with Hawk AI to offer integrated AML and KYC processes.


Through this partnership, Ondato and Hawk AI will jointly offer an integrated KYC validation process combined with AML Transaction monitoring and behavioural analytics suite. Both solutions are modular and can be integrated quickly.

Customers will now be able to experience a unified, fast, and transparent process from ID verification to customer and payment screening, data validation, and transaction monitoring. With this new product offering the possibilities to identify suspicious behaviour and intentions of potential criminals increases during the KYC process.

Hawk AI’s officials stated that partnering with Ondato enables customers that are evaluating advanced KYC solutions a seamless path to integrate AML and behavioural analytics at the same time. For fast-growing banks and payment firms, access to a comprehensive compliance offering has many advantages including much faster integration and go-live.

Ondato partners with Hawk AI to offer an integrated AML and KYC suite

Recent moves from Ondato

The news comes shortly after Ondato rolled out the Ondato OS platform, designed for businesses that need to augment their KYC and AML processes.

The new platform offers financial institutions understanding of their exposure, with risk-based management of new and existing customers. The platform also provides increased process automation for efficiency and lower operating costs, minimising the risk of interventions and fines from regulatory authorities.

With Ondato OS, financial institutions can tailor information gathering according to the products or services selected by individual clients. The level of scrutiny needed for an insurance customer is not the same as needed to open a new bank account, for example, the company says. The OS has the ability to recognise these differences and only ask customers for data that is necessary to onboard them for the service they want, rather than a full suite of forms in every case.

More information on Hawk AI

Hawk AI augments how financial institutions handle compliance risk with comprehensive AML surveillance. Fully modular, cloud-native, and enhanced with machine learning, Hawk AI makes customer and transaction surveillance more efficient and ensures regulatory compliance.

Using traditional rules combined with artificial intelligence to detect suspicious behaviour in real-time, Financial Crime specialists can investigate true instances of suspicious activity. The solution reduces false positive rates by over 70% compared to legacy AML/CFT solutions, according to the company.

More details about Ondato

Ondato is a tech company that streamlines KYC and AML-related processes. Ondato provides technological solutions such as digital identity verification, business customer onboarding, data validation, authentication, and more. The company is turning compliance into a business benefit for its customers, helping to create a better and safer environment for organisations and individuals.

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Keywords: KYC, AML, transaction monitoring, risk management, partnership
Categories: Fraud & Financial Crime
Companies: Hawk:AI, Ondato
Countries: World
This article is part of category

Fraud & Financial Crime




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