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Hawk AI receives Celent's Xcelent Advanced Technology 2023 Award for AML Transaction Monitoring


Munich, 21. August 2023 – Hawk AI, Germany’s leading provider of anti-money laundering and fraud surveillance technology for banks, payment companies, and fintechs, has been awarded the Xcelent Advanced Technology 2023 award, highlighting Hawk AI as the most advanced AML Transaction Monitoring system on the market.

The Xcelent award was part of a deep dive by Celent into Financial Crime Compliance technology, where 17 vendors were profiled by Celent analysts across three dimensions: Advanced Technology, Breadth of Functionality, and Customer Base and Support.

"Achieving this award highlights that the clear vision we have for being the leading fincrime surveillance platform has become a reality for those using our solution", said Tobias Schweiger, CEO and Co-Founder of Hawk AI. "Our technology is designed based on a deep understanding of international AML compliance and dedication to continuously develop our product further. This is how we lead the change in this industry."

Money laundering is an economic and societal problem, with up to $2 trillion being laundered annually, equivalent to 2-5% of the global GDP according to the UN. Financial institutions are constantly searching for platforms that can improve their AML/Fraud transaction monitoring, screening, and customer risk initiatives to remain compliant and avoid financial losses. Augmenting traditional rule-based systems with explainable AI allows these financial institutions to find more instances of financial crime while reducing the burden of 90%+ false-positive rates that overwhelm AML compliance and Fraud prevention teams.

Hawk AI is led by industry experts that have successfully built payment firms and digital banks. The company experienced 298% year-over-year revenue growth in 2022 and won the Fraud & Financial Crime Category at Regulation Asia's Pitch Regtech 2023 competition. Furthermore, Hawk AI added Riyadh to its global presence spanning Munich, London, New York and San Francisco and Singapore. Hawk AI operates in more than 60 countries across Europe, North America, Asia, and Latin America, processing billions of customer transactions, including large financial institutions and listed entities.

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