Symphony AyasdiAI unveils Sensa for AML and financial crime detection

By Pavithra R

Symphony AyasdiAI has announced the launch of Sensa, a new enterprise AI application to discover complex, hidden money laundering and financial crime activity at fewer cost and operational burdens as previously required.

The launch is a result of a year-long partnership with FIs to discover new indicators of complex, hidden attacks and malignancies that common ML and traditional deterministic rules fail to detect. By capturing the weak and hidden indicators and behaviors with powerful analytical models and business and regulatory reporting interfaces, banks can more effectively detect financial crimes. In beta testing, the capability identified a new batch of alerts, of which over 90% were deemed to be L3, and the methodology was proven effective in accelerating detection time by up to 12 months.

“Sensa is the culmination of a multi-institutional and multi-disciplinary program all focused on discovering what is deliberately being hidden – laundering, evasion, trafficking, corruption, fraud, and digital blackmail. The result is undisputed accuracy, a drastic reduction in cost, and frictionless deployment using topological data analysis. Our goal with Sensa™ is to drive wide-ranging risk coverage and minimal false positives. This transforms risk transparency and attack discovery and drastically reduces the associated costs currently undermining effective anti-crime units,” said Symphony AyasdiAI CEO Simon Moss.

Sensa operates either as a cloud-native or on-prem and requires no additional data streams. The platform orchestrates all current useful analytical innovations within a single framework to maximize the number of angles being used to find hidden criminal malignancies.

“Fighting financial crime is complex, and the analytics required need to be tailored to specific challenges, contexts and problems. As Ayasdi pivots from being a generalized mathematical framework to a focused anti-fincrime platform, it will add to the options and possibilities financial institutions will be looking to evaluate and could make it easier for them to incorporate some of those mathematical capabilities into their fincrime platforms,” said Sidhartha Dash, Research Director at Chartis Research.

Founded in 2008, Symphony AyasdiAI is a SymphonyAI portfolio company. The firm empowers banks and FIs with a complete picture of the customer, third party and user behavior to discover the crime, risk and competitive opportunity through unparalleled, predictive insight.