How does Hawk:AI Customer Screening compare to Bankers Almanac?

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.

Bankers Almanac, offered by LexisNexis Risk Solutions, provides critical insights into financial institutions and global banking networks. The platform offers comprehensive data on correspondent banking relationships, regulatory risk assessments, and institution-level compliance requirements.

Designed to support due diligence and compliance efforts, Bankers Almanac integrates seamlessly with risk management workflows, providing detailed reporting and actionable intelligence. This solution helps organizations mitigate risks, ensure compliance, and enhance their understanding of global financial ecosystems.

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

• 🏆 Ranked - Strong Performer by Forrester (2024)
• 🏆 Best Overall AI Company by AI Breakthrough Awards (2024)
• 🏆 Named on RegTech100 by FinTechGlobal (2024)
• 🏆 Financial Crime and Compliance50 2024 - Ranked 4 by Chartis (2024)
• 🏆 RiskTech100 2024 - Ranked 13 by Chartis (2024)

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.

LexisNexis Risk Solutions is a global data and analytics company that provides information-based analytics, decision tools, and data management services to help organizations make informed decisions, stay compliant, reduce risk, and improve operations