How does Hawk:AI Customer Screening compare to KYC and KYB?

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.

Sardine's KYC (Know Your Customer) and KYB (Know Your Business) module streamlines the verification processes for individuals and businesses, ensuring compliance with regulatory requirements and mitigating risks associated with financial crimes. The module automates the collection and analysis of customer data, including identity documents, business registrations, and other pertinent information. Advanced analytics and machine learning algorithms assess the authenticity of the data and identify potential red flags. The system also facilitates ongoing monitoring to detect changes in customer profiles that may indicate emerging risks. By automating these processes, the KYC and KYB module reduces the burden of manual compliance tasks, accelerates customer onboarding, and enhances the accuracy of risk assessments. This leads to improved operational efficiency and a stronger defense against financial crimes.

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

Sardine offers a platform to automate risk decisioning, catch more fraud, detect money laundering, and protect customers from scams.

Sardine's platform integrates several key functionalities aimed at combating fraud and ensuring compliance:

- Fraud Detection: Utilizing behavioral analysis and machine learning, Sardine detects scams before they occur by monitoring subtle changes in user behavior across the customer lifecycle—from onboarding to transaction monitoring.
- Risk Scoring: The platform employs advanced risk-scoring models to evaluate potential threats in real-time.
- Compliance Solutions: Sardine provides services such as Know Your Customer (KYC), Know Your Business (KYB), transaction monitoring, and anti-money laundering (AML) compliance.
- Device Intelligence & Behavioral Biometrics: By incorporating device intelligence and behavioral biometrics, Sardine enhances its fraud detection capabilities beyond traditional methods.

The inception of Sardine was driven by the founders' experiences in the fintech space, particularly their recognition of the fragmented nature of fraud prevention services available to cryptocurrency and neobanking sectors. Ranjan's background in cybersecurity and machine learning, alongside the team's collective expertise, led to the development of a unified API platform designed to tackle various fraud risks comprehensively. The name "Sardine" is a nod to Suspicious Activity Reports (SARs), which are critical in reporting financial crimes.