SymphonyAI Sensa and financial crime detection firm NetReveal have launched the Sensa-NetReveal Suite.
According to SymphonyAI, the Sensa-NetReveal Suite integrates AI technologies into the quality and depth of an established financial crime solution.
The company remarked that the Sensa-NetReveal Suite delivers ‘comprehensive, financial crime-fighting capabilities, initially addressing transaction, customer and organisational behaviour monitoring.
The Sensa-NetReveal Suite also reduces the complexities and costs that financial institutions face in financial crime detection by optimising the use of AI in risk detection and alert management without complex integrations, delayed results or mounting overheads.
Sensa-NetReveal Suite transaction monitoring involves advanced AML and fraud detection, efficient visual investigation, intelligent alert scoring, automated regulatory reporting and behavioural graph network analysis in one investigator journey.
SymphonyAI said this approach provides increased risk detection accuracy by 70%, due to advanced detection of hidden risk with both Sensa AI-led detection models and traditional rules.
It also offers optimised alerting with up to 70% less manual review. Intelligent event triage, driven by model ops, is automated triage that scores alerts using an organisation’s specific risk appetite, providing optimised alert decisions while minimising time wasted on false positives.
SymphonyAI added, “The Sensa-NetReveal Suite automatically and continuously surfaces suggested alert scoring, allowing for a detailed and transparent assessment of AI results. Machine learning predictions are viewed in the NetReveal case management interface, providing transparent, ongoing model validation and assessment to support model governance.”
The Suite also provides operational efficiencies such as reduced false positives and time spent on investigation combined with a streamlined infrastructure optimising overall footprint.
Streamlined UI workflows in the Sensa-NetReveal Suite also make investigations more effective and efficient, using explainable machine learning insights, AML-tailored network analysis, and graphical behavioural summaries.
The Sensa-NetReveal Suite is available as part of the latest NetReveal version, which also includes Sanctions PEP & Negative News, Transaction Filtering, Customer Due Diligence, and end-to-end Case Management.
SymphonyAI Sensa CEO Simon Moss said, “The Sensa-NetReveal Suite is changing the face of fighting financial crime. It uses the best of Sensa and NetReveal so organizations can discover more crime, tackle costs that burden focus and effectiveness, and transform operational performance in one interface.
“This not only meets banks, FinTechs, insurance, treasury, and other regulated organizations’ needs today, but it is also the foundation for growth and the future, as a platform as nimble as our adversaries. As interest in and appetite for more AI and data-backed reporting grows, the suite scales as the bank does, providing an end-to-end experience.”
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