Computer Services signs partnership with Featurespace to fight money laundering

FinTech Computer Services has partnered with financial crime-fighting company Featurespace to launch a holistic anti-money laundering solution WatchDOG AML.

WatchDOG AML is powered by machine learning and is designed to protect against financial crime by identifying suspicious activity in real-time with an enterprise transaction monitoring system.

“As criminals relentlessly target financial systems, organizations require cutting-edge technology for fraud detection and risk management,” said Kurt Guenther, CSI’s group president of Business Solutions. “By partnering with Featurespace, we’re providing our customers with a powerful AML solution that leverages the latest in machine learning to fight illicit activity and ensure compliance.”

WatchDOG AML supplies a comprehensive view of risk by analysing human behaviour to detect suspicious activity while maximizing efficiency with automatically prioritized alerts.

“The ability to understand genuine customer behavior allows banks and credit unions to more accurately detect anomalies and additional suspicious activity so that only the most worthwhile alerts are passed along for review, while also reducing false positives and bringing more financial crime to light,” said Dave Excell, founder and president of Featurespace.

“By using our Adaptive Behavioral Analytics, CSI’s WatchDOG AML helps financial institutions drive down risk by monitoring transactions, and also helps the industry take another step forward in the fight against this global problem.”

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