HAWK:AI partners with IXOPAY to boost payment orchestration with AI-powered AML surveillance
Munich/Vienna, 16 March 2022 – The industry leading payment orchestration platform and white label solution, IXOPAY, has partnered with Hawk AI, Germany’s leading provider of anti-money laundering (AML) surveillance technology for banks, payment companies and fintechs. This strategic partnership boosts IXOPAY’s offering by giving its white-label clients access to state-of-the-art fraud prevention that uses traditional rules in combination with artificial intelligence to detect suspicious behavior.
IXOPAY’s white label solution lets fintechs, acquirers, and other payment companies scale their services by adding payment orchestration to their offering. One connection gives access to market leading software that is fully customizable, has a twenty-four-hour service line offering both customer and technical support, and is connected to over 140 acquirers and 3rd party providers. Ensuring flexibility for individual business needs.
Its new partner, Hawk AI, drastically reduces false-positives – a challenge for financial institutions – and provides all-in-one list management that powers payment and customer screening efforts. The Customer Risk Rating solution gives users the ability to understand their customers in depth. Managing AML processes and ensuring that businesses are protected is complicated and can be confusing. Hawk AI aims to make it as transparent as possible. Every decision that is made is explained in natural language that provides the transparency to ensure all stakeholders understand and trust the performance of AI-powered AML.
“The ability to scale quickly and effectively is essential in payment ecosystems, which is why IXOPAY is excited to partner with leading AML providers, Hawk AI. Together, we can offer users the connections, flexibility and protection needed in order to scale effectively”. Said Rene Siegl, Founder and Executive Chairman of IXOPAY.
“The payment sector is currently experiencing significant growth and innovation, a perfect time for our partnership with IXOPAY," said Tobias Schweiger, CEO and CO-Founder of Hawk AI. "AI-powered AML surveillance isn't just about ticking compliance checkboxes. It's a powerful way to remove growth roadblocks for young companies while solving the efficiency bottlenecks holding back established market leaders. We look forward to delivering this in a flexible and scalable manner together with IXOPAY.”
Together, IXOPAY and Hawk AI will allow fintechs, banks, and payment companies to increase their businesses offering and strengthen their AML capabilities.
About Hawk AI
Hawk AI develops and operates a cloud-based software solution for the automated detection of suspected cases of financial crime and money laundering. With Hawk AI, financial institutions can make their transaction surveillance more efficient and ensure regulatory compliance. Hawk AI's software uses a combination of traditional rules and artificial intelligence to detect suspicious behavior in real-time and presents such alerts to Financial Crime specialists for investigation. The solution drastically reduces false alarm rates, e.g., compared to legacy AML/CFT solutions. Hawk AI was founded in Munich in 2018 by experienced fintech entrepreneurs Tobias Schweiger and Wolfgang Berner and works with financial institutions and partners such as North American Bancard, Ratepay, Moss and Tuum. In June 2021, Hawk AI secured a Series A funding of $10M USD from BlackFin Capital Partners and Picus Capital. Visit www.hawk.ai for more information.
IXOPAY is a payments orchestration platform enabling independent, flexible and global payment processing. As a highly scalable and PCI-DSS certified “fintech enabler”, IXOPAY fulfills the needs of large merchants as well as those of “white label” clients: payment service providers (PSPs), acquirers and independent sales organizations (ISOs). The modern, easily extendable architecture offers smart transaction routing & cascading, state-of-the-art risk & fraud management, fully automated reconciliation and settlements processing, comprehensive reporting as well as plugin-based integration of acquirers, payment service providers and alternative payment methods (APMs). IXOPAY is part of the IXOLIT Group, founded in Vienna, Austria in 2001. With local entities in Austria and the USA, IXOLIT supports national and international customers across various industry verticals. The owner-led and -financed company has grown from 2 to more than 80 employees and is focused on building innovative solutions for eCommerce. Please find more information about IXOPAY here: https://www.ixopay.com