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Discai and Harmoney join forces to fight financial crime

By Gloria Methri

June 21, 2024

  • AML Compliance
  • Anti-Money Laundering (AML)
  • Belgium

FinTech, DISCAI, KBC Group, Harmoney, Money Laundering, KYC, AML, Compliance, Regulatory, Financial Crime, Belgium, EuropeDiscai and Harmoney, two Belgian companies specializing in fighting financial crime, have partnered to offer an integrated anti-money laundering (AML) solution for financial institutions.

Together, Discai’s AI-based alert system and Harmoney’s end-to-end case and process management platform deliver a customizable solution for generating and managing AML alerts.

Discai’s KYT (Know Your Transaction) AML solution utilizes AI models alongside an integrated rule-and-simulation engine, identifying potential money launderers through alert creation. Complementing this, Harmoney’s end-to-end case and process management platform guarantees efficiency in the investigation, leveraging AI and robotic automation.

Discai and Harmoney’s joint offering brings significant advantages to financial institutions. Discai’s solution reduces false-positive alerts and uncovers suspicious activities that traditional systems may miss. Meanwhile, Harmoney’s expertise streamlines the investigation process, ensuring alerts are handled expertly and efficiently.

Additionally, the collaboration is built on the principles of open architecture and full flexibility. Discai and Harmoney’s solutions are available both independently and in combination. Financial institutions can adopt the full spectrum solution or create a customized solution from the available elements of each.

Discai, a FinTech subsidiary of KBC Group, operates on data science, combining financial expertise with a strong understanding of compliance in the banking sector to deliver innovative solutions for combatting financial crime. Harmoney delivers expert compliance solutions in six countries—Belgium, Luxembourg, France, Germany, The Netherlands and Singapore—and boasts success with market leaders in banking, insurance and leasing.

Fabrice Deprez, CEO of Discai, said, “Our collaboration with Harmoney underscores our commitment to delivering innovative solutions that enable efficient and effective financial crime management. By combining our strengths, we can provide an end-to-end approach to combatting money laundering.”

Thomas Van Maele, CEO of Harmoney, added, “We are excited to partner with Discai to offer a comprehensive solution that streamlines the end-to-end KYC and KYT management processes. Together, we can empower financial institutions to stay ahead of sophisticated money laundering schemes.”

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