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Sentinels unveils new AML platform for improved fraud detection

By Gloria Methri

January 20, 2023

  • AML
  • Anti-Fraud Solutions
  • Europe
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Sentinels, Fraud Detection, RiskTech, Europe, AML, Artificial Intelligence, SaaS, Machine LearningEuropean client risk management firm Sentinels has launched its new platform solution for transaction monitoring. The SaaS platform is designed to help financial institutions detect and eliminate financial crime with greater speed and accuracy.

In a market characterized by rising transaction volumes, spiralling compliance costs, and ever-tightening regulations, Sentinels helps banks, wallets, payment service providers and other financial institutions get ahead of the AML curve.

The company has transitioned to a scalable, high-performance AWS cloud-based delivery model, where customers connect to the SaaS platform via secure, standardized APIs. This enables Sentinels to maintain product innovation and rollout enhancements without disrupting client operations.

The scalable computing capacity enabled by AWS also allows Sentinels users to create and run powerful, data-heavy business rules in real-time, with accuracy, allowing them to detect and react to potential suspicious and criminal activity.

Christian Roberts, Chief Product Officer, Sentinels said “One of the key challenges facing today’s compliance teams lies in their limited capacity to identify, monitor, and manage key sources of risk. The Sentinels SaaS platform extends this capacity, by enabling them to create and test tailor-made business rules without interrupting the platform’s real-time detection engine. It also opens the door to the introduction of AI and machine learning algorithms which can further reduce risk by, for example, analyzing patterns and suggesting enhancements.”

Ibrahim En-nali, Chief Technical Officer, Sentinels added, “Our real-time detection capability helps our customers tackle more areas of financial risk by providing immediate analysis of transaction processing flows. This enables our customers to proactively block suspicious transactions before they create further risks. The scalability of our SaaS architecture enables Sentinels clients to grow their transaction volumes unimpeded by the technologies they use to monitor, manage and mitigate risk.”

In just three years Sentinels has grown from serving one customer – Dutch PSP Mollie – to 25+ financial institutions across Europe, including Brand New Day, Paystrax, kevin, Ping Payments, B4B Payments, and Rebellion Pay.

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