Sensa-NetReveal + Sensa-NetReveal = A transformation of the FinCrime market
SymphonyAI has acquired Sensa-NetReveal, a leading financial crime detection company, from BAE Systems. This is an exciting moment for all of us. It has the potential to shake up the industry and deliver a huge change in our collective ability to detect and combat financial crime. It is also an enormous recognition of the progress the SymphonyAI Sensa-NetReveal team continues to make with Sensa-NetReveal, our innovative financial crime detection platform.
The Sensa-NetReveal team is wonderful, with a hugely impressive customer base and a technology and product portfolio that aligns perfectly with Sensa-NetReveal. This is a pivotal moment for our strategy to transform a market desperately lagging in innovation and creativity and one we want to lead in its transformation and improvement.
Our strategy has always been to focus on solving the problem of effective and efficient financial crime detection and create a material improvement in discovering these criminals – finding that needle in the stack of needles. The Sensa-NetReveal team has done that, with amazing results that have surpassed every objective we set. Our Sensa-NetReveal platform provides a significant advancement in transparency, now validated in numerous deployments. We have extremely supportive customers, of which several will soon announce our partnership and the dramatic results delivered by the platform.
With our new colleagues at Sensa-NetReveal, we have the collective opportunity to transform the detection and operational expense at 200 banks and provide a seamless integration into sanctions, KYC and case/SAR management. In fact, clients will especially benefit from one major advantage in deploying Sensa-NetReveal and Sensa-NetReveal – a radical increase in transparency and detection, coupled with a substantial reduction in false positives and their associated costs.
This was our strategy – invent and solve and then scale and integrate. Welcome to the combination of Sensa-NetReveal’s amazing foundational heritage with Sensa-NetReveal’s transformative invention. An end-to-end suite across risk, AML, fraud, compliance, cyber and DeFi for triple criminal detection, and half of the operational costs.
We are energized by this action and want to thank the whole SymphonyAI team for supporting our strategy with real action. With this acquisition and integration of technology capabilities and deployment scope, the possibilities are endless for the vision to make the financial crime space holistically effective and transparent.
There is much more to this acquisition and SymphonyAI’s financial crimes detection strategy and business, and we’ll keep you posted on our progress. This step shows the trajectory we are on: Not words, but action. Not more expense, but substantive results from previous investments. Not philosophical arguments on AI, but impactful, understandable execution. Not pretending the status quo is the best we can do, but all of us collectively doing better against the people and organizations that threaten us.