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Cognitive AI Financial Crime Compliance

Thrive without Limitations - transform compliance from a burden into a strategic advantage

What is Cognitive AI?

Cognitive AI (Artificial Intelligence) represents a transformative approach to computing, aiming to emulate human-like thinking processes; it can perceive, reason, learn and interact with the environment in a manner similar to humans. Unlike traditional AI, which focuses on narrow tasks, Cognitive AI seeks to emulate the depth and flexibility of human cognition, enabling machines to perform tasks with greater adaptability, and contextual awareness.

Financial Crime Compliance

Financial Crime Compliance focuses on identifying and preventing illicit activitiesā€”such as drug and human trafficking, tax evasion, bribery and corruptionā€”to protect the integrity of the financial system. These predicate crimes can lead to money laundering and/or terrorist financing under anti-money laundering (AML) regulations.

ThetaRayā€™s Cognitive AI offers an effective and accurate approach to combating these threats.

How Does Cognitive AI Help in the Context of Financial Crime Compliance?

  • Interactive

  • Decision Support

  • Adaptation

Interactive

Analyzes Relationships and Context
Provides multi-dimensional analysis by detecting events based on several risk indicators, increasing the likelihood of spotting suspicious behavior or illicit networks

Dynamic Risk Profiling
Creates ongoing, detailed risk profiles for individuals and entities, alerting on unusual activity based on historical and current behavior and transactions.

Decision Support

Alert Classification
Defines the classification of individuals' risk assessments and prioritizes the most suspicious or high-risk activities.

Audit Trails and Documentation
Provides human-readable justifications, supporting documentation, and confidence thresholds to explain cases and their severity.

Adaptation

Feedback Loop
Connects key components ā€” from human interaction to decision-making and updates from new available informationā€” to perform tasks with greater accuracy.

Dynamic Response
Adjusts its understanding to new information, responding to new threats faster than human teams or legacy systems.

Improve Alert Quality
Learns from historical data while continuously adapting to new and evolving tactics used by criminals, improving the accuracy of identifying genuine threats

The Benefits

  • Maintain trust

    with regulators, investors and customers. Confidently meet your compliance obligations

  • Reduce risk exposure

    gain early and accurate detection of customers and transaction risk

  • Increase operational efficiency

    reduce false flags and streamline workflows through the entire compliance process (from alert prioritization to reporting and audits).

  • Improve revenue opportunities

    improve overall customers experience and satisfaction. Reduce friction to ensure loyalty and retention

  • Find new customers

    acquire new customers in regions previously identified as high-risk or uncertain

Empower Your Organization

Cognitive AI bridges the gap between human expertise and machine efficiency, enabling better understanding of risk, smarter decisions and seamless growth.Ā 

Ready to transform your financial crime compliance? Contact us to learn more.

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