Computer Services and Featurespace partner to launch anti-money laundering solution

To empower its customers in the fight against financial crime, Computer Services has partnered with Featurespace to launch a holistic anti-money laundering (AML) solution: WatchDOG AML.

WatchDOG AML protects against financial crime by identifying suspicious activity in real-time with an enterprise transaction monitoring system.

Using customizable machine learning models that utilize Featurespace’s award-winning Adaptive Behavioral Analytics, WatchDOG AML reduces false positives while predicting and adapting to new threats through anomaly detection. This allows banks and payments providers to detect more suspicious activity as it happens, while also reducing the number of genuine transactions declined.

“As criminals relentlessly target financial systems, organizations require cutting-edge technology for fraud detection and risk management,” said Kurt Guenther, CSI’s group president of Business Solutions.

“By partnering with Featurespace, we’re providing our customers with a powerful AML solution that leverages the latest in machine learning to fight illicit activity and ensure compliance.”

WatchDOG AML supplies a comprehensive view of risk by analyzing human behavior to detect suspicious activity while maximizing efficiency with automatically prioritized alerts.

“The ability to understand genuine customer behavior allows banks and credit unions to more accurately detect anomalies and additional suspicious activity so that only the most worthwhile alerts are passed along for review, while also reducing false positives and bringing more financial crime to light,” said Dave Excell, founder and president of Featurespace.

“By using our Adaptive Behavioral Analytics, CSI’s WatchDOG AML helps financial institutions drive down risk by monitoring transactions, and also helps the industry take another step forward in the fight against this global problem.”

from Help Net Security https://ift.tt/2VkIZUj

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