How does PassFort Lifecycle compare to Hawk:AI Customer Screening?

PassFort Lifecycle by Moody's is a compliance automation platform that manages the entire customer lifecycle, from onboarding to ongoing monitoring. It facilitates Know Your Customer (KYC) and Anti-Money Laundering (AML) processes by automating data collection, risk assessment, and due diligence. The platform integrates with various data providers and offers customizable workflows, enabling organizations to maintain compliance efficiently while enhancing customer experience.

Hawk:AI Customer Screening solution ensures compliance with regulatory requirements by screening customer data against global sanctions lists, politically exposed persons (PEP) records, and adverse media sources. The platform leverages advanced machine learning algorithms to perform real-time risk assessments, reducing false positives while ensuring comprehensive coverage.

The solution integrates seamlessly into existing customer onboarding and monitoring workflows, allowing organizations to maintain compliance without disrupting operations. Hawk:AI Customer Screening enhances risk management by providing actionable insights, robust reporting, and audit trails to demonstrate regulatory adherence.

• 🏆 Best Decision Management Company by AI Breakthrough Awards (2024)
• 🏆 Named on RegTech100 by FinTechGlobal (2024)
• 🏆 Category Winner - AI-driven Credit Data Enrichment by Chartis (2024)
• 🏆 Category Winner - AI-driven credit analytics by Chartis (2024)
• 🏆 Category Winner - AI-driven insurance risk analytics by Chartis (2024)
• 🏆 Category Winner - Strategy by Chartis (2024)
• 🏆 RiskTech AI 50 2024 - Ranked 3 by Chartis (2024)

• 🏆 Category Winner - Innovative use of AI for anomaly detection by Chartis (2024)
• 🏆 RiskTech AI 50 2024 - Ranked 17 by Chartis (2024)

Moody’s is a globally recognized integrated risk assessment firm best known for its credit ratings, research, and analytical tools in the financial sector. Founded in 1909 by John Moody, the company has grown over the past century to become one of the “Big Three” credit rating agencies, alongside Standard & Poor’s and Fitch Ratings. Moody’s provides ratings, insights, and risk analysis that inform and guide investors, financial market participants, and policymakers around the world.

At the core of Moody’s offerings are its credit ratings—an evaluation of creditworthiness that measures the likelihood that a borrower (such as a corporation, government, or structured finance entity) will be able to meet its debt obligations. These ratings, expressed through a standardized alphanumeric scale (ranging from Aaa for the highest-quality obligations to C for those in default), help inform lending decisions, influence interest rates, and shape investor perceptions. They are often required by regulatory bodies and are considered an essential component in global capital markets.

Moody’s also provides a wide array of research, data, and analytic tools to support risk management, portfolio analysis, and strategic decision-making. Through its subsidiary Moody’s Analytics, the firm delivers software solutions, economic data sets, quantitative models, and advisory services. These offerings support customers in areas ranging from credit risk measurement, stress testing, and regulatory compliance to supply chain management and environmental, social, and governance (ESG) assessments.

Another critical function of Moody’s is its role as a thought leader. Its analysts regularly publish sector research, market outlooks, and special commentary on emerging economic and financial trends. These insights help shape market discourse and policy debates on issues ranging from global debt sustainability to climate risk and systemic financial vulnerabilities.

Hawk AI, founded in 2018 by fintech entrepreneurs Tobias Schweiger and Wolfgang Berner, is a Munich-based company specializing in anti-money laundering (AML) and fraud prevention solutions for financial institutions. Their platform leverages explainable artificial intelligence (AI) to enhance the detection of suspicious activities while minimizing false positives.

The company's suite of products includes modules for payment screening, transaction monitoring, customer screening, customer risk rating, transaction fraud monitoring, and entity risk detection. These tools are designed to work in unison, providing comprehensive coverage across various financial crime risks.

Hawk AI has experienced significant growth since its inception. In January 2023, the company raised $17 million in a Series B funding round led by Sands Capital, with participation from DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital. This investment aims to accelerate product development and expand Hawk AI's presence in the United States and Europe.

The leadership team at Hawk AI comprises professionals with extensive experience in data, technology, banking, and compliance. Co-founder and CEO Tobias Schweiger and Co-founder and CTO/CPO Wolfgang Berner both previously held senior leadership roles at PAY.ON and ACI Worldwide.

Hawk AI's technology is utilized by banks and payment companies worldwide, aiming to increase risk coverage and improve efficiency in combating financial crime. By combining advanced AI with a deep understanding of financial systems, Hawk AI continues to innovate in the field of financial crime detection and prevention.