Hawk, a provider of AI-powered anti-money laundering, screening and fraud prevention solutions, this week announced the launch of Analytics Studio, its AI lifecycle management solution giving banks and payment companies more control over the creation, maintenance, and governance of their AI models.
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. Banks and payment firms must ensure that AI can be swiftly developed and updated in line with regulatory expectations and changing financial crime typologies. This empowers institutions to maximize risk coverage, while also ensuring that models are ready to be approved, defended, and audited.
Analytics Studio streamlines AI model development and retraining, giving anti-financial crime teams flexibility on how they manage models. Organizations that want full control and visibility over the process can leverage expert-designed financial crime model templates, copilot-guided model creation, pre-built AI performance dashboards, and automated model documentation for fast, regulator-ready model development.
Financial institutions can also opt to use Hawk’s world-leading data science services, both for initial model development and for ongoing maintenance and retraining.
With Analytics Studio, financial institutions can:
- Build and update regulator-ready expert models with less reliance on internal or external data science and IT resources, increasing speed and reducing cost
- Embed financial crime domain intelligence directly into their models, increasing overall model performance and reducing risk exposure
- Incorporate model governance, explainability, documentation and versioning into the AI lifecycle, making models easier to approve, defend, and audit.
Wolfgang Berner, chief product officer at Hawk, said,
“Hawk customers already benefit from AI models that have been outperforming the market for years, finding double the crime with half the investigative effort. With Analytics Studio, we are now giving financial institutions the flexibility to manage the entire model lifecycle themselves — from development and validation to ongoing optimization — so they can take their AI capabilities to the next level with speed and regulatory confidence.”
Analytics Studio is the latest addition to Hawk’s AI-native anti-financial crime platform. Banks and payment organizations globally are using Hawk’s technology for AML, screening, and fraud prevention, with AI modules that significantly improve the prevention, detection, investigation, and reporting of crime.