By PAUL O’DONOGHUE, Senior Correspondent
HAWK has launched a new Analytics Studio aimed at giving banks and payment firms more control over AI financial crime compliance systems.
The Munich-based company said the Analytics Studio is designed to manage the full AI lifecycle. It allows firms to create, maintain and govern AML and fraud models in line with regulatory expectations.
Hawk said the launch reflects growing AI adoption across the financial sector.
“With 91% of banks now encouraging the use of AI, the challenge of developing and maintaining AI models has moved to center stage for financial crime and compliance teams,” it said.
“Analytics Studio streamlines AI model development and retraining, giving anti-financial crime teams flexibility on how they manage models.”
Those interested can request a demo of Analytics Studio [HERE].
The platform lets compliance teams use financial crime model templates and guided model creation tools. It also includes performance dashboards and automated documentation.
Hawk said these features aim to make models easier to approve, audit and defend with regulators.
Financial institutions can also use Hawk’s data science services. These services cover both initial model development and ongoing maintenance.
Hawk said the platform reduces reliance on internal data science and IT teams. It also allows firms to embed financial crime expertise directly into models. The company said this improves performance and reduces risk exposure.
Wolfgang Berner, Hawk’s chief product officer, said customers already use AI models that “have been outperforming the market for years”. He added: “With Analytics Studio, we are now giving financial institutions the flexibility to manage the entire model lifecycle themselves, so they can take their AI capabilities to the next level.”
We hope you enjoyed reading this article
If you would like unlimited access to AML Intelligence premium articles, newsletter delivered twice a week, access to our Global Bank Fines and Penalties database, free access to Boardroom Series events and much more, select one of our subscription options and become a subscriber!
