Alviere: Managing AML Compliance Across Diverse Embedded Finance Products
- Alviere provides Banking as a Service (BaaS) and embedded financial services to a wide range of customers in retail and finance
- Alviere needed a robust, flexible AML and screening solution to support the compliance needs of its diverse range of customers while maximizing operational efficiency
- Hawk was chosen for its multi-tenant infrastructure, no-code rule setup, next-generation rule management, and modern case management capabilities
- By using Hawk’s platform, Alviere has reduced false positives and decreased the time needed to review cases
About Alviere
Alviere provides BaaS and embedded financial services, enabling enterprises to offer these products and services to their own employees and customers.
About Hawk
Hawk is the leading provider of AI-supported Anti-Money Laundering (AML) compliance and fraud detection technology, helping financial institutions to identify more financial crime while reducing false positives.
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The Challenges
Alviere offers an extensive range of configurable, branded financial products to retailers and other firms, including accounts and wallets, card issuance, streamlined payments, and global money transfers.
Delivering such a broad spectrum of financial products to diverse clients presents unique challenges in financial crime prevention. Alviere has to accommodate and support a range of varying risk tolerances across multiple customer businesses, while also complying with regulatory requirements in every jurisdiction it operates in.
To address these challenges, Alviere needs to:
- Develop risk-adjusted AML rules tailored to each client’s specific risk appetite
- Optimize case management by minimizing false positives and ensuring efficient workflows
- Generate accurate, customized case narratives for regulatory reporting, avoiding templated responses to demonstrate due diligence
“Many of the traditional AML systems couldn’t meet the specific criteria we had prioritized when we were looking for a solution. It was key that we could have rules that met our needs, but we also wanted to have machine learning and AI working for us too,” explains Jorgen Norgaard, Chief Compliance and Risk Officer at Alviere.
Why Hawk?
Alviere selected Hawk after an extensive vendor evaluation process that considered a wide range of traditional and next-generation AML providers. Hawk stood out because its solutions met Alviere’s key criteria, including:
- Multi-tenant infrastructure, allowing Alviere to support customers with varying risk profiles
- No-code rule set-up enabling Alviere to fine-tune rules without relying on vendors—saving time and costs
- Next-generation rule management, with efficiency and effectiveness gains through AI-driven insights
- A modern, intuitive case management tool, streamlining analyst training and enhancing usability
- Fast implementation times, accelerating the deployment process
- Scalability, ensuring the platform can grow alongside Alviere’s expanding needs
“The ease of implementation stood out. Other vendors would have required far more from us during set-up. And adding further capabilities from Hawk is just like flipping a switch.” Jorgen Norgaard, Chief Compliance and Risk Officer, Alviere
Driving Compliance, Efficiency, and Risk Management
Hawk partnered with Alviere’s team to understand its operating environment. Hawk’s platform allows for a modular approach to mitigating against risk:
- Transaction Monitoring: Alviere now has greater control thanks to Hawk’s solution, with unmatched flexibility when it comes to rules and tuning. Hawk’s no-code interface allows for customized rule creation to further refine detection and minimize false positives
- Customer Screening: Hawk’s Customer Screening solution has further boosted accuracy and efficiency. Analysts can now rescreen an individual on an as-needed basis. Automating this process ended the hours wasted on frustrating manual checks and the delays caused by batch processing
- Payment Screening: To maximize the efficiency available to analysts, Alviere implemented Hawk’s Payment Screening. The solution reduces false positives, enhances scalability, and integrates seamlessly with existing systems, improving security, efficiency, and customer experience as Alviere grows
- Customer Risk Rating: Adding this module strengthened Alviere’s perpetual Know Your Customer (pKYC) capabilities. Hawk’s customizable CRR allows Alviere to retain complete control over its compliance activities, and to adjust risk levels depending on differing risk appetites
Results: Faster, More Accurate Insights
Hawk has enabled Alviere to increase efficiency by reducing case review times. The average time to review cases has dropped from two hours to around 45 minutes.
Alviere is also seeing positive results from its greater capabilities in sanctions screening and PEPs (Politically Exposed Persons) processes.
The migration to Hawk has improved efficiency, cut false alerts, and helped ensure a smoother customer experience, particularly in Transaction Monitoring.
Coming Next: Enhanced Capabilities
Alviere plans to adopt more AI solutions from Hawk that will drive even greater efficiencies while fighting fraud, enhancing AML compliance efforts, and minimizing losses from illegitimate transactions.
“We’ve been impressed with Hawk’s continuous innovations and developments in combating AML and financial crime over the years,” says Jorgen. “We’re looking at Transaction Fraud, as we can already see the huge benefits it would bring to our customers and drive forward our aims as an organization.”
Working Together
Jorgen concludes: “Too often, vendors sell you what they think you need and then you’re on your own. What’s so rewarding about working with Hawk is that they recognize we’re experts on how to best serve our customers, and they have not only listened to our feedback but acted on it. It’s that partnership approach that we’ve found most valuable.”