Resistant AI and Instabase have unveiled a strategic partnership, offering an amalgamation of expertise in the realms of financial crime prevention and unstructured data automation, respectively.
Resistant AI brings to the table its deft proficiency in AI- and machine learning-powered financial crime prevention, whereas Instabase, known for its prowess in handling unstructured data, provides a comprehensive platform designed to automate extensive workflows.
The partnership emerges amidst an escalating demand for robust safety protocols in the face of rising document fraud, particularly within document processing workflows. Given the amplified usage and sophistication of artificial intelligence amongst online criminals, this alliance seeks to navigate through the technological arms race in fraud detection, focusing especially on safeguarding digital Know Your Customer (KYC) documents and fortifying risk-management while also enhancing customer experiences.
Resistant AI operates within the technological sphere as specialists in AI- and machine learning-powered financial crime prevention. With a keen focus on identifying and mitigating financial fraud, the company utilises advanced algorithms and machine learning techniques to scrutinise digital documents, such as pay stubs and bank statements, ensuring their legitimacy and detecting any indications of manipulation or forgery.
Instabase, on the other hand, is recognised for its unstructured data automation platform, known as AI Hub. The platform is specifically crafted to manage and process a voluminous array of unstructured data, thereby enabling organisations to automate their end-to-end workflows comprehensively and efficiently. Their platform facilitates the automation of processes, particularly in dealing with extensive, unstructured data sets, and seamlessly integrates this data into workable workflows.
Together, the entities are poised to deliver Resistant AI’s Document Forensics via Instabase’s AI Hub platform, to validate and authenticate digital KYC documents. The alignment will meticulously scrutinise over 25m digital documents and aims to identify and impede money mule account creations related to peer-to-peer (P2P) fraud, thereby underpinning both risk management and customer interaction with bolstered security.
In a riveting analysis, Resistant AI disclosed that an alarming 8% of pay stubs, 10% of bank statements, and 7% of utility bills showed signs of fraudulent manipulation in the past six months, underscoring the critical necessity for such a collaboration that promises to provide a more fortified defence against such financial crimes.
Resistant AI ceo Martin Rehak said, “We are proud to work with Instabase to offer a solution that enables customers to automate workflows while safeguarding against fraud. Customers can feel secure knowing that they are using best-in-class technologies, from two companies that are committed to working together and integrating their product to address document fraud from end-to-end.”
Instabase vp of GTM Joe Ramieri said, “Given the ethos of innovation that both Resistant AI and Instabase have built on, our customers can now leverage an additional layer of protection by validating document authenticity, and be armed with the right integrated toolkit to stay ahead of the rapidly evolving financial crime landscape.”
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