Hawk AI, Germany-based software provider of anti-money laundering surveillance technology for banks, payment firms and FinTechs, has partnered with Weavr to deliver contextual risk management for embedded finance.
Weavr is a technology company that strives to make it simple for any business to embed financial services into their digital applications. The company recently raised $40m in Series A funding in a round led by Tiger Global to fuel its international expansion plans.
Hawk AI develops and operates a cloud-based software solution for the automated detection of suspected cases of financial crime and money laundering.
The partnership will see Hawk AI’s suite of transaction monitoring, payment screening, and customer screening support Weavr’s growth plans as they expand from Europe to the US. In addition, Hawk AI’s customer risk rating will allow Weavr to understand and dynamically score the risk of organisations using internal and external data alongside behavioural analytics.
Alex Mifsud, co-founder and CEO, said, “In our search for an AML surveillance suite we wanted a long-term partner that we could innovate alongside, rather than a simple service provider.
“Hawk AI’s modular approach, flexibility and focus on innovation for global growth together aligns perfectly with our design for a risk management solution that responds and adapts to the rich context and data that our embedded finance solutions can access when integrated into digital applications of all stripes.”
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