CSI, a leading provider of end-to-end financial software and technology, announced the launch of its AI-powered AML compliance and fraud detection solutions: TruDetect and TruProtect. The solutions are powered by DATASEERS®, a data-driven B2B SaaS company specialized in harnessing data, automating manual processes and providing real-time insight for risk, fraud, compliance and operations.
According to Celent, over 95% of AML alerts are false positives, leading to wasted time and inefficiency in investigations. AML analysts can also spend between 30 and 70 minutes per alert, according to a Nasdaq report. Combined with the staggering rise in fraud-consumers reported losing more than $12.5 billion to fraud in 2024—financial institutions are prioritizing advanced fraud detection and AML compliance capabilities to protect themselves and their account holders.
TruDetect: Clarity, transparency and control to stay ahead of financial crime.
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TruDetect is designed to reduce false positives, streamline investigations and put compliance teams back in control regardless of the regulatory environment. The solution offers:
- Auto-generated, customizable templates for suspicious activity report (SAR) and currency transaction report (CTR) narratives
- Customer behavior dashboards that streamline all relevant transaction activity in one view
- Tailored user roles, workflows and alerts that align with any institution’s needs
- AI-powered risk confidence scoring, empowering analysts to quickly gauge accuracy and make informed decisions
“Unlike one-size-fits-all systems, TruDetect is built for every institution’s unique compliance needs,” said Steve Sanders, chief risk and information security officer at CSI. “TruDetect seamlessly integrates into any bank’s compliance team, instantly providing support and AML protection that causes no disruptions to the customer experience. This solution serves as a testament to why we’re excited to work with DATASEERS® on even more cutting-edge fraud solutions in the future.”
SOURCE: Businesswire