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Hawk AI welcomes OTTO Payments as a customer of scalable AML compliance software


Hawk AI, Germany’s leading provider of anti-money laundering surveillance technology for banks, payment firms, and fintechs, today announced OTTO Payments, the payments division serving the marketplace, as a client. 

With the partnership, OTTO Payments will make use of Hawk AI’s Transaction Monitoring and Customer Screening technology, powered by explainable AI, to ensure effective Anti-Money Laundering (AML) compliance. 

As well as meeting regulatory requirements, OTTO Payments wanted an AML solution that would offer efficiency in detecting financial crime. The scalability and accuracy of Hawk AI's technology, combined with its explainable AI and intuitive user interface, made it the ideal choice.

”We’re delighted to welcome OTTO Payments as a client of our award-winning AI-powered Transaction Monitoring and Customer Screening technology,”,” said Tobias Schweiger, CEO and Co-founder of Hawk AI. "Hawk AI’s mission is to be a formidable ally against the escalating volume and sophistication of financial crime. Our scalable technology empowers organizations to forge ahead with ambitious growth plans, all the while fortifying their defenses against the threats of money laundering and fraud.”

"Due to rapid growth, OTTO Payments was looking for a trusted provider that could rapidly implement a world-class system, and ensure leading performance well into the future," said Mirko Krauel, CEO at OTTO Payments. “The Hawk AI team demonstrated their technology leadership and willingness to work closely with our teams to hit ambitious goals. We look forward to a strong relationship that ensures the highest level of AML compliance.” 

Hawk AI is on track for another year of stellar growth, thanks to growing demand for its unique explainable AI technology. Banks and payment organizations worldwide are using Hawk AI’s platform to improve fraud detection and AML compliance. The company’s modular solution can either enhance or replace traditional rules-based systems with AI-powered customer and transaction screening, which delivers greater accuracy and reduced noise.

About Hawk AI 

Hawk AI is the award-winning provider of AI-supported anti-money laundering and fraud detection technology. Banks, payment providers, and fintechs globally are using Hawk AI’s powerful combination of traditional rules and explainable AI to improve the effectiveness of their AML compliance and fraud prevention by identifying more crime, while maximizing efficiency by reducing false positives. Hawk processes billions of transactions across 60 countries, working with leading financial partners and payment processors.

About OTTO Payments

OTTO Payments GmbH received its BAFIN license in June 2022.Today, around 200 employees work for OTTO Payments and have been handling the entire payment processing for the OTTO marketplace with over 6,000 merchants since 2023: with a volume of over six billion euros and peaks of over ten orders per second.

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