German RegTech Hawk AI has partnered with IXOPAY, a payment orchestration platform, to provide the former’s clients with a better fraud prevention offering.
According to Hawk AI, this strategic partnership boosts IXOPAY’s offering by providing its white-label clients with access to fraud prevention that uses traditional rules in combination with AI to detect suspicious behaviour.
IXOPAY’s solution enables FinTechs, payment companies and acquirers scale their offerings by adding payment orchestration to their services.
Hawk AI, meanwhile, claims it drastically reduces false-positives, which is a key challenge for financial institutions. The firm also provides all-in-one list management that helps power payment and customer screening efforts.
Hawk AI said that its partnership with IXOPAY will enable FinTechs, banks and payment firms to increase their business offering and strengthen their AML capabilities.
Hawk AI CEO and co-founder Tobias Schweiger said, “The payment sector is currently experiencing significant growth and innovation, a perfect time for our partnership with IXOPAY. AI-powered AML surveillance isn’t just about ticking compliance checkboxes. It’s a powerful way to remove growth roadblocks for young companies while solving the efficiency bottlenecks holding back established market leaders. We look forward to delivering this in a flexible and scalable manner together with IXOPAY.”
IXOPAY founder and executive chairman Rene Siegl added, “The ability to scale quickly and effectively is essential in payment ecosystems, which is why IXOPAY is excited to partner with leading AML providers, Hawk AI. Together, we can offer users the connections, flexibility and protection needed in order to scale effectively.”
HAWK:AI recently teamed with amnis, a payment platform for SMEs, to strengthen the latter’s AML capabilities ahead of its imminent geographical expansion.
Copyright © 2022 RegTech Analyst
Copyright © 2018 RegTech Analyst