AML/BSA for Credit Unions Accessible innovation backed by expert integration
Why Credit Unions are considering new AML systems
Increased BSA/AML scrutiny of large global banks in recent years has redirected criminal activity to community banks and credit unions.
Perceptions of less sophisticated internal controls, inferior technology, and more lax compliance supervision put your teams under pressure. Consequently, credit unions need a heightened awareness of their AML risk to ensure that effective policies, procedures, and internal controls are in place to identify and mitigate illicit financial activity and maintain regulatory compliance.
THE CHALLENGES CREDIT UNIONS FACE
Leads to changing consumer behavior and increased fraud
Automated front- and back-office processes drive competitive advantage
Expensive legacy solutions don't offer flexibility, training or support
AI has been unavailable due to cost and lack of internal skilled teams
CREDIT UNIONS AND AML/BSA – A CHECKLIST FOR SUCCESS
Partner with a proactive technology provider that adapts to changing regulatory environments
Invest in a vendor relationship that combines AML & fraud technology (FRAML) experience
Leverage real-time fraud detection to quickly alert and block suspicious activity
Balance advanced AI and machine learning technologies with a traditional rule-based approach to increase efficiencies, reduce efforts, and uncover new FinCrime patterns quicker.
BUILT IN GERMANY WITH DEEP INDUSTRY KNOWLEDGE
AI helps your exports spot anomalies and detect unknown crime patterns
70% false positive reduction, your team can focus on priority tasks
All stakeholders can easily understand and trust out system's results
EASY TO DEPLOY
Built with deployment options that can be customised to your needs
THE FUTURE OF MODERN AML SURVEILLANCE BUILT BY INDUSTRY VETERANS
Dedicated to empowering credit unions with the highest quality platform, support, training and consulting.
Reduce time-to-benefit at lower cost a with highly-scalable solution that easily integrates with existing infrastructure.
Fraud & AML (FRAML)
Manage your risk and get control of your processes without scaling your team.
Agile & Adaptable
Respond to shifts in criminal patterns and regulatory requirements with Artificial intelligence.
Get easy to understand natural language explanations that are auditable and defendable to regulators.
Reduce false positives, caseloads and related costs while creating efficiencies that improves detection.
Find anomalies and patterns that evade legacy systems that rely only on rules.
PREPARING FOR GROWTH - NAB ADDRESSES AML REGULATIONS WITH HAWK:AI’S SPEED AND SCALABILITY
“We tested and benchmarked many different systems in the marketplace and found Hawk AI to be a clear technology leader. In the payment processing business, you need flexibility, speed, and the ability to scale. The Hawk AI system delivers all those things. Their team has built leading-edge technology and applies a balanced approach between rules and AI.”
– Jim Parkinson, Chief Experience Officer North American Bancard
Monitor any transaction for red flags using a comprehensive set of rules in combination with Behavioral Analytics.
Screen customers against Sanctions, PEP, watchlists, and adverse media during onboarding and thereafter.
Customer Risk Rating
Dynamically score customer risk using internal and external data. Add behavioral analytics for richer context.