DataVisor’s AML solution sets a new benchmark for innovation and compliance MOUNTAIN VIEW, CA — March 26, 2024 — DataVisor, the world’s leading AI-powered fraud and risk platform, announced today the launch of its latest offering: a modern end-to-end anti-money laundering (AML) solution boasting cutting-edge technology and comprehensive functionalities powered by sophisticated machine learning and AI. Amidst increasing regulatory compliance requirements and the growing complexity of financial crime tactics, this essential solution stands out for its ability to cover the entire AML workflow, while fitting seamlessly into customers’ current workflows. The solution integrates with DataVisor’s AI-powered fraud platform natively, offering a unified fraud and anti-money laundering (FRAML) approach. This helps combat increasingly sophisticated financial crimes and align with the industry trend of merging these operations. In contrast to legacy solutions that were plagued by outdated rules, siloed data, and high false positive rates, DataVisor’s AML solution is fully customizable, supports a wide range of AML risk profiles and programs, and enhances efficiency by reducing false positives dramatically. DataVisor’s modern AML solution also eliminates the inefficiencies of disconnected processes of legacy systems. It proactively improves the detection of new and emerging money laundering activities, mitigating the risks of regulatory fines. Recognized in Chartis’ latest Financial Crime and Compliance 50 report, this solution wins in categories of Risk Appetite Tuning and Low-/No-Code Customization, underscoring its effectiveness and versatility. DataVisor’s AML solution features the following benefits: Comprehensive End-to-End Solution: End-to-end functionality includes customer risk rating, CDD/EDD, sanction/watchlist screening, transaction monitoring, case management, and automated SAR filing, ensuring streamlined AML processes and full regulatory compliance. Enhanced Detection and Reduced False Positives: By providing a holistic view of customer profiles through robust data orchestration, this solution facilitates more effective risk assessment and decision-making, achieving reduced false positives and enhanced detection of real money laundering activities. Increased Operational Efficiency and Reduced Costs: With extensive automation powered by Generative AI, this solution significantly boosts operational efficiency by triaging alerts, automating manual tasks, and streamlining the filing process. Centralized insights and Monitoring: The solution’s dashboard and reportings offer in-depth insights into AML alerts, case statuses, and the progress of review teams. This enables enhanced task prioritization and resolution, with customizable views tailored to different roles. Fast and Flexible Integration: This solution is cloud-based, seamlessly integrating with existing fraud workflows, ensuring fast implementation and offering adaptability to meet the evolving needs of modern financial institutions. “Achieving effective and efficient financial crime frameworks is a major challenge as the world has gotten faster, more digital, and more interconnected and criminal attacks have become more sophisticated. As the demands of AML functions have amplified, deploying the right technology is more critical than ever,” remarked Chuck Subrt, Fraud & AML Research Director from Datos Insights. “With its integration of advanced AI, DataVisor’s modern AML solution offers robust end-to-end capabilities, flexibility, and configurability that can empower organizations to transform their AML practices and adapt to an ever-changing landscape.” “At DataVisor, we are committed to empowering our customers with award-winning solutions and future proof technology to combat financial crimes more effectively and efficiently,” said Fang Yu, DataVisor co-founder and chief product officer. “The substantial interest we’ve seen from financial institutions highlights the imperative need to address the challenges posed by outdated, legacy AML technology. FIs partnering with DataVisor are already witnessing the benefits of our industry-leading FRAML solution. Our focus on continued innovation ensures that we not only meet the current compliance demand but also remain agile to anticipate and counteract future financial crimes. About DataVisor DataVisor is the most comprehensive fraud and financial crime prevention platform powered by sophisticated AI and modern machine learning capabilities. DataVisor empowers customers to protect against future attacks before they happen by detecting and acting on rapidly evolving fraud patterns in real time. DataVisor’s adaptable solution and data-driven approach provides businesses with unparalleled protection in an ever-evolving digital landscape. DataVisor’s award-winning solutions and continuous innovation make them the trusted partner of choice for Fortune 500 companies and leading organizations worldwide, specializing in financial services, banking, credit unions, fintech, and payments. Media Contact Tara Strazdas, The Fletcher Group datavisor@fletchergroupllc.com