AML surveillance and prevention company Hawk AI has partnered with fintech Diebold Nixdorf to assist its efforts in the fight against financial crime.
Both companies will provide an extensive fraud mitigation suite to various banks that want to abolish criminal activity against them. The partnering duo will first focus on the German, Austrian and Swiss markets, providing complex machine learning capabilities for Diebold Nixdorf clients in the DACH region.
Co-Founder and CEO of Hawk AI Tobias Schweiger commented: “It is exciting to see an increasing number of financial institutions embracing modern technology like ours.
“In addition to operational considerations, this is also because regulators globally are starting to ask for answers to fast-changing financial crime trends, which no longer can be addressed with old technology and too much labour.
“But implementing new systems is always a challenge. Therefore, we are thrilled to partner with Diebold Nixdorf, who have strong know-how and professional services capabilities to jointly deliver change while minimising risk for our customers.”
Walter Gries, Director Solutions DACH at Diebold Nixdorf, also made sure to compliment the significance of the partnership and the goals it tries to achieve. He added: “We’re thrilled to work with Hawk AI, a pioneer in explainable AI-powered AML and modern fraud prevention.
“While combating new fincrime techniques is urgently needed, financial institutions must ensure a transparent process where frontline workers, auditors, and regulators trust the results. Hawk AI’s systems provide this trust, and we look forward to bringing the tech-nology to new financial institutions together.”