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AML/BSA for Credit Unions Accessible innovation backed by expert integration

Hawk

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

Artificial Intelligence

DIGITAL TRANSFORMATION

Leads to changing consumer behavior and increased fraud

False positive reduction

NEOBANK COMPTITION

Automated front- and back-office processes drive competitive advantage

AI Explainability

LEGACY PLATFORMS

Expensive legacy solutions don't offer flexibility, training or support

Teamwork

LEADING-EDGE TECHNOLOGY

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

Artificial Intelligence

EFFECTIVE

AI helps your exports spot anomalies and detect unknown crime patterns

False positive reduction

EFFICIENT

70% false positive reduction, your team can focus on priority tasks

AI Explainability

EXPLAINABLE

All stakeholders can easily understand and trust out system's results

Teamwork

EASY TO DEPLOY

Built with deployment options that can be customised to your needs

THE FUTURE OF MODERN AML SURVEILLANCE BUILT BY INDUSTRY VETERANS

Customer Obsession​

Dedicated to empowering credit unions with the highest quality platform, support, training and consulting​.

Frictionless Integration​

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.

Explainability​

Get easy to understand natural language explanations that are auditable and defendable to regulators​.

Machine Learning

Reduce false positives, caseloads and related costs while creating efficiencies that improves detection.​

Anomaly Detection

Find anomalies and patterns that evade legacy systems that rely only on rules.

CASE STUDY - NORTH AMERICAN BANCARD

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

Request more information or a demo

Discover the AML Surveillance Suite for Credit Unions, powered by AI.

Hawk:AI Solutions

Further Solutions

Teaser AML Tx Monitoring

Transaction Monitoring

Monitor any transaction for red flags using a comprehensive set of rules in combination with Behavioral Analytics.

Teaser Customer Screening

Customer Screening

Screen customers against Sanctions, PEP, watchlists, and adverse media during onboarding and thereafter.

Teaser Customer Risk Rating

Customer Risk Rating

Dynamically score customer risk using internal and external data. Add behavioral analytics for richer context.

Teaser Payment Screening

Payment Screening

Screen counterparties against Sanctions and Country lists in real-time. Cleanse data and tune name-matching.