Skip to main content

Hawk AI recognized as Rising Star for Transaction Monitoring Solution

Regulation Asia Award

Singapore/Hong Kong, 14 November 2023 – HAWK:AI was recognized as a Rising Star in the Best Transaction Monitoring Solution category in the 6th Regulation Asia Awards for Excellence 2023 at an in-person ceremony on 14 November 2023.

This award recognizes comprehensive and innovative solutions that effectively help financial institutions detect and prevent financial crime through advanced transaction monitoring capabilities, while also leveraging data analytics and/or machine learning to minimise false positive rates.

HAWK:AI was recognized for its transaction monitoring technology, which is powered by a combination of easily configurable rules and explainable AI. The solution can significantly reduce false positive alerts while increasing true positive detection, thus helping firms to improve their SAR filings. HAWK:AI offers flexible deployment options, with the majority of its clients utilising Hawk's SaaS or their own virtual private cloud, or in some cases on premise deployment.

"The HAWK:AI Transaction Monitoring Solution focuses on typology detection, analysing dozens of factors to identify new and existing money laundering patterns, and leveraging information sharing and joint monitoring mechanisms to enable collaboration between bank subsidiaries or participating institutions without breaching data protection laws. HAWK:AI started its APAC expansion in 2022, building on its impressive growth in Europe and the US.

The Regulation Asia awards panel commended HAWK:AI for the flexibility provided in its rule-builder, which allows nearly any data field to be individually configured and for specific rules to be applied to specific customer groups, transaction types, currencies or a combination of all three. “This allows for highly optimised rule sets, lower false positive rates, and a reduced burden on compliance teams,” one judge on the awards panel said. HAWK:AI’s use of explainable AI was also commended for enabling financial organisations to reap the benefits of AI in a way that is documented and understandable to humans.

About the Regulation Asia Awards for Excellence 2023

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

About Regulation Asia

Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Share this page