This week FinTech Magazine takes a closer look at a company that is revolutionising financial crime detection in the industry: C3.ai.
Through its financial crime prevention technology, C3.ai is transforming the cybersecurity landscape. It’s Suite, C3 Anti-Money Laundering™, improves the efficiency and accuracy of Suspicious Activity Report (SAR) identification through the use of comprehensive machine learning techniques. The suite also provides a comprehensive understanding of a customer by integrating data from internal KYC systems, as well as external sources such as PEP lists, and media search results.
Features of C3 Anti-Money Laundering:
Access internal and external data
Create evidence packages
View granular detail
Perform ad hoc analysis
Review risk factors
Expand and modify risk analytics
Configure sophisticated UI
Identify associated parties
The suite enables the reduction of false positive alerts by as much as 85%, while increasing SAR identification by up to 200%. C3 Anti-Money Laundering combines data from banking systems, transaction monitoring systems, KYC systems, and external sources, allowing processes to function from one centralised platform. The testimonials for C3.ai as a company are impressive, with Lt. Col. Dave Harden of the US Airforce, an institution we reported on in 2019, commending the software company: “working with c3 has been the talent” with “great programmers who are willing to figure out new ways to do business."
Founded in 2009 by Chairman and CEO, Thomas M. Siebel, C3.ai is a software company that has assisted in optimising cybersecurity through the leverage of AI, Big Data and IoT for a number of big names, including Baker Hughes and Royal Dutch Shell. Dan Jeavons, General Manager for Data Science, Royal Dutch Shell, said of the company: "The combination of our data science expertise and the software development expertise that C3.ai brings is really powerful."
Applications built by C3.ai:
C3 predictive maintenance
C3 inventory organization
C3 energy management
C3 anti-money laundering
C3 sensor health
C3 fraud detection
C3 supply network
Headquartered in Redwood City, California, United States, C3.ai has ranked in the world’s best cloud companies for three consecutive years (2017-2019).
For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.