CSI taps Hawk AI to boost fraud and AML product offering


CSI, a provider of end-to-end FinTech and RegTech solutions, has partnered with Hawk AI to deliver its latest WatchDOG Fraud and WatchDOG AML products.

According to Hawk AI, the products’ AI and ML models create multi-layered, automated oversight that monitors, detects and reports fraudulent or suspicious activity in real time.

WatchDOG Fraud monitors transaction behavior to detect fraudulent patterns across all channels and payment methods. Using transaction data augmented by non-financial data such as IP addresses and device IDs, it protects businesses by detecting and preventing fraud in real time.

WatchDOG AML leverages the same AI and ML capabilities to analyze customer behavior, generate alerts and file reports in real time. It identifies suspicious activity and automatically creates suspicious activity reports (SAR) to reduce manual reporting and maintain compliance with Financial Crimes Enforcement Network (FinCEN) regulations. The product strengthens anti-money laundering programs for banks and non-bank financial institutions that are required to develop AML programs under FinCEN regulations.

Hawk AI CEO and co-founder Tobias Schweiger said, “believe that cutting-edge, real-time financial monitoring technology can deliver the change needed to fight today’s sophisticated fraud and money laundering. Operating a safe financial ecosystem requires fintechs, banks and other organizations to deploy technology-backed tools and infrastructure that accurately inform and alert institutions to impending concerns.

“We are excited to aid CSI’s empowerment of its customers against the constantly evolving threats of fraud and money laundering with explainable AI.”

Hawk AI recently teamed with payment specialist VR Payment. As part of the deal, VR Payment will use Hawk AI’s software for transaction monitoring to identify financial crime  more accurately.

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