Mizuho International, the London-based securities and investment banking arm of Mizuho Financial Group, has chosen SymphonyAI Sensa, part of SymphonyAI’s finance vertical, to help improve the detection and deterrence of financial criminal activity. Mizuho selected SymphonyAI Sensa for anti-money laundering (AML) detection within its European Capital Markets Division.
“We are thrilled to be deploying industry-leading AML transaction monitoring (TM) capabilities. Our next-gen AML TM strategy sought a more refined rule detection and advanced AI solution to find real AML risk and reduce false positives and analyst review times by holistic scoring. We needed a solution that helps analysts, through user interfaces, to deliver all the information needed to expedite investigations,” said Mizuho EMEA’s Chief Compliance Officer Dinesh Joshi. “SensaAML will make a significant difference in our long-held fight against money laundering. Our financial crime team will be empowered and more effective.”
SymphonyAI Sensa’s comprehensive scenario rules, combined with advanced machine learning models, including changes in behavior, risk similarities, anomaly detection, and hotspot identification, provide unparalleled insights for more effective and increased risk detection. Existing SensaAML customer deployments today demonstrate a significant increase in the discovery of risks compared to existing methods, while reducing costly false positive alerts by more than 60 percent.
“We are honored to be selected by one of the largest financial institutions in the world to drive its European fight against money laundering. By delivering SensaAML as SaaS, we enable Mizuho to achieve dramatically better results in its efforts to combat financial crime. In addition, implementation times and costs will manifest these benefits in weeks instead of years.” said Simon Moss, CEO of SymphonyAI Sensa. “Our objective is to catch crime consistently missed, to find crime deliberately hidden, and to find the signal in the noise that has been so elusive in the past. This is next-generation AML TM today.”
SOURCE: PR Newswire