Alviere, a leading provider of embedded finance and Banking-as-a-Service (BaaS) solutions, has strengthened its anti-money laundering (AML) and screening capabilities by partnering with RegTech firm Hawk.
According to Hawk, serving a diverse client base across the retail and finance sectors, Alviere required a compliance solution capable of supporting different risk appetites while maintaining operational efficiency.
Hawk was chosen following a competitive vendor evaluation process. Its offering stood out for its multi-tenant infrastructure, no-code rule configuration, AI-powered rule management, and intuitive case management features. These tools have enabled Alviere to tailor AML programmes to individual client needs, reduce false positives, and significantly speed up case reviews.
Alviere delivers a broad range of branded financial products including accounts, wallets, payments, card issuance, and international transfers. Managing AML across this varied portfolio involves meeting diverse regulatory requirements and supporting clients with different risk profiles. This demanded a scalable, flexible compliance solution.
To address these challenges, Alviere set out to create risk-adjusted rules tailored to each client, optimise workflows to reduce manual case handling, and generate custom narratives for regulators. Hawk’s advanced technology met these needs, allowing compliance teams to build and manage rules in-house and deploy changes quickly.
Alviere chief compliance and risk officer Jorgen Norgaard said, “Many of the traditional AML systems couldn’t meet the specific criteria we had prioritised when we were looking for a solution. It was key that we could have rules that met our needs, but we also wanted to have machine learning and AI working for us too.”
The company has since integrated multiple Hawk modules, including transaction monitoring, payment and customer screening, and customer risk rating. These tools allow for real-time detection, enhanced risk segmentation, and the automation of labour-intensive processes, such as screening politically exposed persons (PEPs) and sanctions monitoring.
Implementation has already produced tangible results. The average case review time has dropped from two hours to around 45 minutes. Automation and customisation have led to a noticeable drop in false alerts, streamlining operations and improving the customer experience.
Looking ahead, Alviere plans to expand its use of Hawk’s AI solutions, particularly in areas such as transaction fraud detection. Norgaard added, “We’ve been impressed with Hawk’s continuous innovations and developments in combating AML and financial crime over the years.”
He also praised Hawk’s collaborative approach: “Too often, vendors sell you what they think you need and then you’re on your own. What’s so rewarding about working with Hawk is that they recognise we’re experts on how to best serve our customers, and they have not only listened to our feedback but acted on it. It’s that partnership approach that we’ve found most valuable.”
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