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VR Payment relies on Hawk AI to prevent financial crime using artificial intelligence


VR Payment, the payment service provider for Volksbank Raiffeisenbanken and part of the DZ BANK Group, announces its collaboration with Hawk AI, Germany's leading provider of anti-money laundering (AML) and fraud prevention software.  

With Hawk AI, VR Payment has chosen a reliable software provider that sets new standards in the fight against money laundering and fraud with artificial intelligence, machine learning, and software-as-a-service technology.  

As part of the collaboration, VR Payment uses Hawk AI's transaction monitoring software to identify financial crimes even more accurately - with the aim, among others, of reducing false positive alerts for suspicious transactions and customers, increasing efficiency in case processing.  

Due to its modular architecture and the optimized interaction of rules and artificial intelligence, Hawk AI's software is tailored to the needs of high-volume payment service providers and banks and enables complete integration on a short timeline. 

“We are very pleased about the successful implementation of the software solution from Hawk AI, one of the leading providers in the field of AI-based money laundering prevention,” said Ciro De Biase, Head of Compliance and AML at VR Payment. “As an innovative payment service provider, we need a modern and effective solution that continuously keeps pace with the latest developments in payment transactions and is transparent and secure. We evaluated different software providers on the market and found Hawk AI's technology to be the most advanced and suitable for us. The speed of software implementation and the results-oriented dynamics of project implementation were remarkable.” 

Tobias Schweiger, co-founder and CEO of Hawk AI, added, “We are thrilled to be working with VR Payment. We see that the demand for more effective and modern software solutions for anti-money laundering and fraud prevention is increasing rapidly in Germany. Hawk AI is a global leader in the real-time use of artificial intelligence to combat money laundering. By collaborating with Hawk AI, VR Payment is sending a clear message about how important innovation is in preventing financial crime.”  

About Hawk AI: 

Hawk AI helps banks, payment service providers, and fintechs stop money laundering and fraud. To do this, the company uses the latest cloud infrastructure and artificial intelligence technology, which makes the fight against financial crime more accurate and efficient. Founded in 2018 by Tobias Schweiger and Wolfgang Berner, two experienced financial technology experts, Hawk AI processes billions in transactions in over 60 countries worldwide. Hawk AI is headquartered in Munich. 

About VR Payment: 

VR Payment is one of Germany's leading payment service providers and, as a company in the DZ BANK Group, the only full-service provider owned by banks. As a cashless payment specialist for Volksbank Raiffeisenbanken, VR Payment develops innovative solutions for processing its customers' online and offline transactions. From network operation and card acceptance to innovative in-app solutions and issuing services, VR Payment is the only service provider in Germany to master the entire value chain of modern payments and is a sought-after partner of leading retail and service companies due to this expertise. VR Payment is responsible for around 240,000 terminals and 5.8 million credit cards and sees it as its responsibility to firmly integrate sustainable practices. Around 400 employees work for the e-money institution at its Frankfurt and Ettlingen locations.

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