• Anti-money laundering surveillance technology specialist Hawk AI has entered into a strategic partnership with digital onboarding and KYC business solutions provider Know Your Customer.
  • The partnership will provide businesses with an integrated anti-fraud solution that will help them avoid the challenge of siled compliance technologies.
  • Hawk AI, based in Munich, Germany, made its Finovate debut in May, demonstrating its technology at FinovateSpring in San Francisco, California.

Yastrab A.Ian anti-money laundering technology company for banks and fintech, announced a strategic partnership with Know Your Customer this week. The alliance will combine Know Your Customer’s digital onboarding and business KYC solutions with Hawk AI’s transaction monitoring technology. The new offering will provide businesses with an integrated anti-fraud solution to enhance their protection against financial crime.

“There is a wave of technological innovation happening in RegTech,” said Hawk AI CTO and co-founder Wolfgang Berner, “from a cloud-native infrastructure that delivers scalable, real-time native processing in an efficient, secure and reliable way, to fully explaining AI and machine learning, which complement traditional anti-money laundering approaches and ensure an effective and efficient fight against crime.’

Berner also highlighted the problem of fraud prevention solutions that are not sufficiently integrated. “Advanced technology is not enough if information remains closed,” he said. Berner noted that Know Your Customer shares Hawk AI’s “vision of modular solutions that facilitate a more holistic approach to combating financial crime.”

Hawk AI’s Steve Liu, CEO, North America

Processing billions of transactions annually in more than 60 countries, Hawk AI technology uses intelligent artificial intelligence and cloud-based technology to detect financial crimes while maintaining a low false positive rate. The company reported that reducing false positives can help anti-money laundering officers save up to 70% of their workday, allowing them to focus on more complex compliance issues.

Hawk AI has done its thing Finovate debuted earlier this year at FinovateSpring 2022 in San Francisco. Founded in 2018 and headquartered in Germany, the company showcased its AML Surveillance Suite. This technology combines artificial intelligence with traditional rules-based strategies to monitor financial transactions in real time and help financial institutions and fintechs better detect suspected cases of fraud, financial crimes and money laundering. This technique helps identify subtle, easy-to-miss anomalies that can only be missed by traditional rule-based approaches.

Hawk AI includes financial services consulting Kapkoas well as KYC and customer onboarding specialist Muskrat – as well as fellow Finovate alums like Visa, Mamboand Diebold Nixdorf – among its partners. Member of Art RegTech 100, Hawk AI raised $10 million from investors including BlackFin Capital Partners and Picus Capital. Co-founder Tobias Schweiger is CEO.


Photo by Frans van Heerden

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