24 August 2022

Ondato and Hawk AI announce partnership to offer integrated AML and KYC management suite

Written By Ondato

Ondato and Hawk AI announce partnership to offer integrated AML and KYC management suite

Hawk AI, Germany’s leading software provider of anti-money laundering surveillance technology for banks, payment firms, and fintechs, today announced a new partnership with Ondato, one of the leading tech companies in KYC and customer onboarding. 

Through this partnership, Ondato and Hawk AI will jointly offer an integrated KYC validation process combined with a state-of-the-art AML Transaction monitoring and behavioral analytics suite. Both solutions are modular and can be integrated quickly. Customers will now be able to experience a unified, fast and transparent process from ID verification to customer and payment screening, data validation and transaction monitoring. With this new product offering the possibilities to identify suspicious behavior and intentions of potential criminals increases during the KYC process.

Partnering with Ondato enables customers that are evaluating advanced KYC solutions a seamless path to integrate AML and behavioral analytics at the same time,” said Tobias Schweiger, CEO and Co-founder of Hawk AI. “For fast-growing banks and payment firms, access to a comprehensive compliance offering has many advantages including much faster integration and go-live.”  

"We are excited to start a partnership with Hawk AI, which allows us to expand client onboarding and compliance management towards behavior monitoring," said Liudas Kanapienis, CEO & Co-founder of Ondato. “Combining Ondato and Hawk AI expertise will help our clients to get multiple solutions in one place and adapt them according to their needs.”

 

About HAWK:AI

Hawk AI drastically improves how financial institutions handle compliance risk with comprehensive AML surveillance. Fully modular, cloud-native, and enhanced with machine learning, Hawk AI makes customer and transaction surveillance more efficient and ensures regulatory compliance. Using traditional rules combined with artificial intelligence to detect suspicious behavior in real-time, Financial Crime specialists can investigate true instances of suspicious activity. The solution drastically reduces false positive rates by over 70% compared to legacy AML/CFT solutions. Founded in Munich, Hawk AI works with leading financial institutions and partners such as North American Bancard, Moss, Banco do Brasil Americas, Mambu, Visa, and Lexis Nexis. 

 

About Ondato

Ondato is a tech company that streamlines KYC and AML-related processes. Ondato provides technological solutions such as digital identity verification, business customer onboarding, data validation, authentication, and more. These provide the highest standard available of KYC online or offline on-boarding for all business and customer types, orchestrated from a single interface. Ondato is turning compliance into a business benefit for its customers, helping to create a better and safer environment for organizations and individuals.

 

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