SensaAML Solution Proves a Worthy Ally for Financial Crime Detection
PALO ALTO, Calif. — June 15, 2022 — Symphony AyasdiAI announced today that its SensaAML™ solution continues to be validated and is leading the redefinition of financial crime discovery and operational effectiveness with the receipt of multiple new awards. These accolades, which come as the company continues a global growth trajectory, are a testament to the powerful results Symphony AyasdiAI Sensa is delivering for customers in fraud, AML and compliance malfeasance.
Adding to its recent Edison award for the most innovative company in security, during the past month, Symphony AyasdiAI won the Tech of the Future Award from Banking Tech Awards USA, a program of FinTech Futures that recognizes excellence and innovation in the use of information technology in financial services. The company also took the winner’s spot in Central Banking’s Fintech & RegTech awards for the machine learning and AI category. The award underscores how regulators are beginning to recognize the impressive value that higher-order technologies such as Sensa can achieve when designed and deployed with innovation and focus.
Symphony AyasdiAI’s SensaAML is a leading, next-generation platform with robust capabilities to help financial institutions detect, mitigate and uncover money laundering, fraud, and other criminal financing activities. Using a powerful combination of groundbreaking AI and machine learning technologies, the solution provides unparalleled, predictive insights to deliver heightened effectiveness and increased risk coverage for today’s leading banking organizations. Whether SensaAML is used as an augmentation or stand-alone solution, clients have experienced an order of magnitude improvement in detection (in one case, close to 100X improvement in criminal transparency) and, as a result, improved operational costs by close to 50%.
Simon Moss, CEO, Symphony AyasdiAI, said: “These wins are a further endorsement that we’re definitely on the right track to help our customers truly execute the mission of fighting financial crime. We built the SensaAML platform to both fill the void and inefficiencies caused by the myriad of legacy systems that continue to be foiled by today’s sophisticated financial criminals and to truly deliver a transformation of the financial crimes industry. Such recognition by these global influencers is a huge boost and confirmation of the sterling work delivered by the Symphony AyasdiAI team and its growing group of customers.”
Chuck Subrt, Fraud and AML practice director, Aite-Novarica Group, said: “Leveraging cutting-edge artificial intelligence, Symphony AyasdiAI focuses on more accurate detection of financial crime rather than trying to reduce false positive volumes or manage investigation workloads. By putting detection first, it spots obscure risks and threats while addressing these other challenges at the root source. Its current momentum illustrates that increased adoption in advanced analytics and machine learning-based platforms are enabling Financial Crimes compliance and detection, and as a result cultivating sharper risk intelligence and elevating resource productivity.”
About Symphony AyasdiAI
Symphony AyasdiAI, a SymphonyAI business, empowers banks and financial institutions with a complete picture of customer, third party and user behavior to discover crime, risk and competitive opportunity through unparalleled, predictive insight. Using a uniquely powerful combination of artificial intelligence and machine learning, Symphony AyasdiAI customers dramatically reduce the time to achieve genuine transparency, with full explainability. The Sensa platform leverages unique combinations of time series and leading analytical innovations to give organizations absolute fidelity for competitive discovery, risk detection and efficiency optimization. Learn more at www.ayasdi.com, LinkedIn, or Twitter.
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth industries, including retail, consumer packaged goods, financial services, manufacturing, media and IT service management. SymphonyAI businesses have many leading enterprises as clients in each of these industries. Since its founding in 2017, SymphonyAI has grown rapidly, approaching 2,000 talented leaders, data scientists, and other professionals. SymphonyAI is an SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani.