Munich startup HAWK:AI is continuously expanding business
Munich, Feb 12, 2020 – HAWK:AI is continuously expanding the customer base for its cloud-based solution for the detection and processing of suspected money laundering cases. With Ratepay, the Munich-based software specialist has acquired one of the fastest growing payment service providers as a new customer. HAWK:AI supports and optimizes the processes required for payment service providers according to the “Law on the Detection of Profits from Serious Crimes – Money Laundering Act (AMLA)”, which also applies to other institutions such as banks and insurers.
“We chose the HAWK:AI solution because a flexible, expandable solution that could be seamlessly integrated into our IT landscape was particularly important to us,” said Charlotte Ruffin, Ratepay Compliance Officer, explaining why Ratepay chose HAWK:AI and further specifies: “The team at HAWK:AI was able to implement our requirements to establish operations in a few weeks. That helped us to optimize our internal processes in compliance with regulations and to make them significantly more efficient. ”
Money laundering is a hot topic: between two and five percent of the world’s gross national product is laundered every year. According to a study by the Ministry of Finance, the figure in Germany is around 100 billion euros.
Tobias Schweiger, CEO of HAWK:AI explains: “Working with Ratepay, we were able to show that our modular solution can be used very quickly for a fast growing payment service provider with special requirements from the online payment area. This was supported by the delivery of the solution as Software-as-a-Service (SaaS) and our standardized and flexible IT interfaces. Working with Ratepay, we were able to quickly adapt workflows, system intelligence and documentation to implement the compliance requirements. ”
With Ratepay’s customer gain, HAWK:AI continues to write its success story. The Munich-based fintech was recently able to win the auditing and consulting firm PwC as a strategic partner. The cooperation with Ratepay has sent another important signal for the corporate development of the startup founded in 2018.
Ratepay is the leading provider of payment solutions with a 100% payment guarantee in Europe. The products include purchase on account, payment in installments with immediate online acceptance, direct debit and payment in advance. Ratepay GmbH, based in Berlin, was founded in December 2009, has more than 250 employees and is part of the Nets Group.
For more information, please visit www.ratepay.com
February 17, 2020