MUNICH, Germany, and TROY, Michigan, USA, April 07, 2021 (GLOBE NEWSWIRE) — North American Bancard Holdings, LLC (NAB), a payments technology company with an advanced product platform, and HAWK:AI (HAWK AI GmbH), a global leader in real-time transaction screening and monitoring solutions for financial institutions, today announced a partnership that will strengthen NAB’s Anti-Money-Laundering (AML) compliance through real-time transaction monitoring, applying machine learning in combination with classic rule-based approaches.
By integrating HAWK:AI’s solution, NAB seeks to improve compliance with regulatory requirements, scheme and bank sponsor rules, and to significantly increase process efficiencies by the reduction of manual investigation workload.
Remaining vigilant to the changing demands in anti-money-laundering is paramount to NAB’s continued growth, and a key factor in their decision. To meet the complex demands of their business, NAB turned to HAWK:AI for its ability to tailor the solution to existing payment systems and data sources, as well as its capacity to rapidly deploy the solution based on its cloud-first software stack.
“We believe HAWK:AI is unique in its ability to combine the right mix of methodologies to detect suspected money-laundering,” said Jim Parkinson, Chief Experience Officer at North American Bancard. “HAWK:AI was also able to work most efficiently with our Data Science, Software and Cloud infrastructure teams,…