Hawk AI has partnered with Diebold Nixdorf, a leader in driving connected commerce for finance and retail, to expand the reach of the former’s AML solution.
Hawk AI claims that the two companies will work together in distributing and implementing the former’s AML surveillance and fraud prevention suite in banks to support them to fight financial crime more effectively.
The partnership will initially focus on Germany, Austria and Switzerland and will facilitate an even easier access to Hawk AI’s solution for all customers of Diebold Nixdorf.
Hawk AI CEO and co-founder Tobias Schweiger said, “It is exciting to see an increasing number of financial institutions embracing modern technology like ours. In addition to operational considerations, this is also because regulators globally are starting to ask for answers to fast-changing financial crime trends which no longer can be addressed with old technology and too much labour.
“But implementing new systems is always a challenge. Therefore, we are thrilled to partner with Diebold Nixdorf, who have strong know-how, and professional services capabilities to jointly deliver change while minimizing risk for our customers.”
Diebold Nixdorf director of solutions for DACH Walter Gries added, “We’re thrilled to work with Hawk AI, a pioneer in explainable AI-powered AML and modern fraud prevention. While combating new fincrime techniques is urgently needed, financial institutions must ensure a transparent process where frontline workers, auditors, and regulators trust the results. Hawk AI’s systems provide this trust, and we look forward to bringing the technology to new financial institutions together.”
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Copyright © 2018 RegTech Analyst