Financial crime prevention firm Resistant AI has deployed technology into Netherlands-based B2B FinTech FINOM to bolster AML measures.
FINOM provides B2B services to companies in France, Germany and Italy. Its platform offers financial management, invoicing and payment services.
As part of the deal, Resistant AI will overlay and enhance FINOM’s transaction monitoring system to provide valuable context and uncover unusual and anomalous behaviour.
The technology will add additional context to existing alerts, the ability to detect previously unknown types of suspicious behaviour and deliver intelligent alert prioritisation allowing analysts to focus on the highest risk cases first.
FINOM co-founder and managing director Sergey Petrov said, “In a world that is seeing ever-increasing incidents of fraud and money laundering, we need to have the most effective tools and techniques to detect suspicious activities. On the other hand, they should not create any friction or obstacles for legitimate clients.
“Resistant AI’s solution perfectly complements FINOM’s AML and Anti-Fraud program with its explainable AI, ensuring transparency to AML analysts as well as the regulator “
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