PALO ALTO, Calif., Feb. 21, 2023 /PRNewswire/ — Mizuho International, the London-based securities and investment banking arm of Mizuho Financial Group, has chosen SymphonyAI Sensa, part of SymphonyAI’s finance vertical, to help improve the detection and deterrence of financial criminal activity. Mizuho selected SymphonyAI Sensa for anti-money laundering (AML) detection within its European Capital Markets Division.
“We are thrilled to be deploying industry-leading AML transaction monitoring (TM) capabilities. Our next-gen AML TM strategy sought a more refined rule detection and advanced AI solution to find real AML risk and reduce false positives and analyst review times by holistic scoring. We needed a solution that helps analysts, through user interfaces, to deliver all the information needed to expedite investigations,” said Mizuho EMEA’s Chief Compliance Officer Dinesh Joshi. “SensaAML will make a significant difference in our long-held fight against money laundering. Our financial crime team will be empowered and more effective.”
SymphonyAI Sensa’s comprehensive scenario rules, combined with advanced machine learning models, including changes in behavior, risk similarities, anomaly detection, and hotspot identification, provide unparalleled insights for more effective and increased risk detection. Existing SensaAML customer deployments today demonstrate a significant increase in the discovery of risks compared to existing methods, while reducing costly false positive alerts by more than 60 percent.
“We are honored to be selected by one of the largest financial institutions in the world to drive its European fight against money laundering. By delivering SensaAML as SaaS, we enable Mizuho to achieve dramatically better results in its efforts to combat financial crime. In addition, implementation times and costs will manifest these benefits in weeks instead of years.” said Simon Moss, CEO of SymphonyAI Sensa. “Our objective is to catch crime consistently missed, to find crime deliberately hidden, and to find the signal in the noise that has been so elusive in the past. This is next-generation AML TM today.”
About Mizuho International plc
Mizuho International plc (Mizuho International) is the London-based securities and investment banking arm of the Mizuho Financial Group, Inc., and is a wholly-owned subsidiary of Mizuho Securities Co., Ltd. With a primary focus on client-based activities, its wide range of services includes sales and trading in both debt and equity securities, the underwriting of new issues, and M&A advisory services. Mizuho International is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and is a member of the London Stock Exchange and LCH.Clearnet Limited.
Mizuho International has a Branch in Dubai, United Arab Emirates (for which the operating name is Mizuho International plc (DIFC Branch)). Mizuho International has a subsidiary, Mizuho Securities Europe GmbH, in Frankfurt, Germany. Mizuho Securities Europe GmbH has a Branch in Madrid, Spain. Learn more at www.mizuhogroup.com/emea
About SymphonyAI Sensa
SymphonyAI Sensa, part of SymphonyAI’s finance vertical, is a globally recognized leader in financial crime detection. The Sensa platform empowers financial institutions to uncover criminal activity routinely ignored by traditional detection systems. Using highly advanced AI and machine learning, Sensa builds a complete map of customer, third-party, and user behavior to generate crime and risk alerts through unparalleled, predictive insight. Sensa dramatically cuts investigatory time by significantly reducing false positives, thereby reducing operational costs. Sensa can be deployed alone or with an institution’s current system. Genuine transparency and full explainability help maintain regulatory compliance. Learn more at www.symphonysensa.com.
About SymphonyAI
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani. Learn more at www.symphonyai.com.
Media contact: Chris Gale, [email protected] or 203-570-4681
SOURCE SymphonyAI