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HAWK:AI Wins the Fintech Germany Award 2022

Hawk AI wins Fintech Germany Award 2022

Munich, 7 December 2022, – Hawk AI, Germany’s leading provider of anti-money laundering surveillance technology for banks, payment companies, and fintechs, has won the coveted Fintech Germany Award in the “Early Stage” category.

The Fintech Germany Award sees a jury of twenty experienced sector individuals evaluate and compare over 100 start-ups from fintech as well as insurtech (and adjacent) sectors according to several different criteria. Based on a scoring process, the jury determines the leading companies in the individual categories and decides the winners in a jury meeting.

"Winning this award underscores the immense work our team has put into pioneering a better way to combat financial crime,” said Tobias Schweiger, CEO, and Co-Founder of Hawk AI. “Technology combined with deep AML Compliance and Fraud knowledge always had the ability to bring Anti-Financial Crime efforts into the 21st century, and we’re exceptionally proud to lead the change in this industry. And the industry is indeed changing; our platform has scaled to more than 60 countries, processes billions of transactions annually, and supports this growth from 6 international hubs.”

Wolfgang Berner, CTO, and Co-Founder of Hawk AI added, “Technology leadership is a core part of how we bring innovation to the market, and I want to thank our product and engineering teams for constantly pushing the boundaries of what’s possible in RegTech. This includes cloud-native infrastructure enabling scalability and real-time native processing in a performant, safe and secure way; and fully explained AI used in real-time detection that augments traditional AML approaches and ensures efficient and effective financial crimefighting. This award shows that we can solve today’s AML and Fraud challenges while laying the foundation for an even more effective future.”

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. Banks, Payment Service Providers, and Fintechs 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.

The company continues with strong growth in Germany, adding clients in all sectors and building a footprint amongst banks. Successful international expansion augments this growth, with the US representing a significant portion of the company’s business, and APAC operations to service South-east Asia recently launched.

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