Hawk:AI, which offers anti-money laundering (AML) surveillance technology, has partnered with Estonian IT company 42flows.tech, to bring AML and fraud surveillance to more global customers.
42flows.tech’s services include middleware development and process orchestration for integration between various banking systems such as core banking, KYC, AML, card issuing and processing and payments.
The company aims to help customers automate workflows and implement new products and solutions in a fast and efficient way, unlocking numerous new business opportunities, while accelerating growth.
Hawk:AI helps financial institutions handle compliance risk with comprehensive AML surveillance. Its cloud-native and enhanced machine learning streamlines customer and transaction surveillance. Through traditional rules and AI, the platform detects suspicious behaviour in real-time.
The partnership will see customers of Hawk AI and 42flows.tech can benefit from pre-built connectors with core banking systems without the need to develop integration from scratch.
Hawk:AI said that due to 42flows.tech technology and a process orchestration engine, integration is done seamlessly without the need to write a single line of code.
Max Popov, COO of 42flows.tech, said, “We are very pleased to partner with Hawk AI as we believe we have shared vision and common goals to bring technological advancements into the financial services sector. I believe that partnerships and collaborations have synergetic effect to bring more value to our customers.”
Wolfgang Berner, CTO and co-founder of Hawk AI, added, “Smooth integration and rapid time-to-live are key for financial institutions to effectively fight financial crime. We’re excited to partner with 42flows.tech to accelerate bringing AI-powered AML and Fraud Surveillance to the market even quicker.”
Earlier this year, Hawk:AI partnered with KYC and customer onboarding company Ondato.
Through the deal, Ondato and Hawk:AI will jointly offer an integrated KYC validation process combined with a state-of-the-art AML transaction monitoring and behavioural analytics suite. Both solutions are modular and can be easily and quickly integrated.
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