Hawk AML and Fraud solution suites

Hawk is a provider of anti-money laundering (AML) and fraud SaaS solutions with offices in Europe, the US, and Asia. The company offers modular, cloud-native platform solutions for transaction monitoring, perpetual KYC/customer risk, sanctions and watchlist screening (payments and customers), and transaction fraud prevention. Hawk minimises false positives and improves true positive capture with a combined approach of rules-based and AI workflows, with typology-specific machine learning models. The company also delivers a network effect via sharing of pattern recognition and AI-based insights across its platform. Hawk primarily serves clients in the financial services industry, focused on Banks, Payment Providers, Merchant Acquirers, and FinTechs to protect their customers across 80+ countries.

The system consists of

(a) the Surveillance Engine,

(b) Case Management,

(c) Configuration Management User Interface.

a) Surveillance Engine

The real-time, rule-based detection of suspicion is integrating the four functional modules:

1. AML Transaction Monitoring

2. Transaction Fraud Prevention

3. Customer Screening

4. KYC/CDD - Customer Risk Rating

5. Payment Screening (Sanctions)

To augment rule-based functionality, we provide two modules based on comprehensive, state-of-the-art supervised and unsupervised Machine Learning Models, which also operate in Real-time:

False Positive Reduction leads to well-documented, suppressed alerts. The decisions are based on learning effects from the history of case handling by your operators as well as from ongoing operations.

Anomaly Detection allows for the detection of risks previously not detected in the pool of all monitored transactions. This is accomplished by leveraging ML models to form a view of “normal” and “anomalous” behavior within individual accounts and account segments.

(b) Case Management

Alerted cases are displayed for manual investigation in the HAWK:AI Case Manager. The Case Manager is unifying all alerts triggered by the above Surveillance Engine and allows efficient work-out and/or escalation of cases or groups of cases by providing a 360-degree view of each case within the tool.

(c) Configuration Manager

The configuration of rule parameters and Machine Leaning functionality can be performed through the web interface (drag-and-click) in a user-friendly way without the need for programming knowledge. Adding/combining rules and respective parameters is possible with the option to apply different rules depending on e.g., low/mid/high-risk customer risk, or product groups. No code configuration of the rules and patterns applied in the surveillance engine and easy-to-understand the configuration of the Case management

1. Cost reduction – with 70-90% fewer false positives AML/compliance officers waste less time on ‘busy work’ and can focus on compliance tasks that add more business value.

2. Combating crime – AI-powered anomaly detection helps financial institutions fight financial crime by identifying and flagging new threats before they become widespread

2. Explainable audit trails – Our transparent systems and explainable AI (patent pending) provides clear audit trails, ensuring all stakeholders (from frontline officers to auditors, supervising authorities, partners, and regulators)."