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Symphony Adsay for SensameML Solutions USA 2022 Wins Future Tech – Data, AI, ML and RPA at Banking Tech Awards.
Artificial Intelligence (AI) has been at the forefront of financial services over the past few years. One of AII’s greatest success stories was in the arena of danger and fraud, because AI could plow a vast array of information to identify patterns, inconsistencies, and find a needle in the grass pile that caused the alarm.
Simon Moss, Symphony IUDI does not need a needle in a pile of grass, but rather a needle in a stack of needles.
Or, as our CEO Simon Moss puts it, AI does not need a needle in a pile of grass, but rather a needle in a stack of needles.
Symphony’s ICAI product, SensaML, has boosted the power of AI. Banks and financial institutions use unparalleled, speculative insights into customer, third party and consumer behavior, allowing them to access crime, risk and competition opportunities.
The overall effect of the interface is to identify false positives and unforeseen hazards with existing TMS with multiple filter alerts.
The product works simultaneously to provide automation and intelligence in areas where it is most needed. Designed to work in parallel with existing processes and include existing rules and restrictions, it also provides better insights into better data mapping and discovery using AI and Graphics Learning (ML).
SensaAML is completely transparent, audit and explanatory for regulatory compliance. The solution is designed to have a significant impact on investment return (ROI) and efficiency by keeping a small footprint on management and implementation changes.
This next-generation platform will enable AI and ML technology to help lead financial institutions to successfully prevent crime in their organizations.
Time could not be better. Financial crimes are at an all-time high – the Covenant epidemic provides a perfect opportunity for criminal actors to exploit both the economic environment and the number of individuals affected by unemployment. The net result is an increase in disproportionate fraudulent banking activity and an increase in fraudulent financial practices.
He had a clear desire to find a strong solution!
In addition, the 2020 Anti-Money Laundering (AML) Act introduced additional regulatory and compliance initiatives for FIs, thus providing an opportunity for AICID to demonstrate the SensaAML solution and its broad benefits for meeting these obligations.
The solution is to combine complex machine learning, behavior maps, cognitive relationships, long-term behavior and risk in one orchestra to find complex financial crime DNA.
SensaAML is a comprehensive solution for cloud-native, micro-service and application programming interface (API) -based design, built-in integration for case management systems and other devices.
With full investment in existing AML and fraudulent technologies, we fully understand that “tearing and replacing” is not a viable option for most. This philosophy is at the heart of CENSML’s development to create a platform for collaboration with heritage marketing control systems.
In addition, the simple and efficient nature of our system has significantly reduced application times (especially three months) to ensure a fast and flawless ROI.
In our first application, we have created impressive statistics that confirm the effectiveness of our solution.
We found a 20% increase in L3 detection, up to 90% accuracy with new crash detection, risks can be identified a year ago, and a 60% reduction in false positive results.
SensaAML has received numerous industry accolades, and as a result, invites us to bid for many unsolicited RFPs for AML solution programs. To date, we have reached a conceptual stage with 50% of these invitations.
Our goal for the coming year is to bring comprehensive disaster coverage and efficiency into the FRAML solution. By using the third-party and third-party information of banks, we can make an informed decision for a seamless customer experience and bring key competitive advantage to our customers.
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