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Symphony AyasdiAI launches Sensa™, a pioneering solution for AML and financial crime detection to thwart money laundering activitiesREDWOOD SHORES, Calif., Feb. 23, 2021 /PRNewswire/ -- Symphony AyasdiAI today announced the launch of Sensa™ a powerful new enterprise AI application to discover complex, hidden money laundering and financial crime activity at a fraction of the cost and operational burdens previously required. Sensa™ is the groundbreaking result of a year-long partnership with financial institutions to discover new indicators of complex, hidden attacks and malignancies that common machine learning and traditional deterministic rules fail to detect. By capturing these often weak and hidden indicators and behaviors with powerful analytical models and business and regulatory reporting interfaces, banks can more efficiently and effectively detect financial crimes. In beta testing, this capability identified a new batch of alerts of which over 90% were deemed to be L3 and the methodology was proven effective in accelerating detection time by up to 12 months. "Sensa™ is the culmination of a multi-institutional and multi-disciplinary program all focused on discovering what is deliberately being hidden - laundering, evasion, trafficking, corruption, fraud, and digital blackmail," said Symphony AyasdiAI CEO Simon Moss. "The result is undisputed accuracy, a drastic reduction in cost, and frictionless deployment using topological data analysis. Our goal with Sensa™ is to drive wide-ranging risk coverage and minimal false positives. This transforms risk transparency and attack discovery, and drastically reduces the associated costs currently undermining effective anti-crime units." According to Sidhartha Dash, Research Director at Chartis Research, "Fighting financial crime is complex, and the analytics required need to be tailored to specific challenges, contexts and problems. As Ayasdi pivots from a being a generalized mathematical framework to a focused anti-fincrime platform, it will add to the options and possibilities financial institutions will be looking to evaluate, and could make it easier for them to incorporate some of those mathematical capabilities into their fincrime platforms." Sensa™ can operate as ether cloud-native or on-prem and needs no additional data streams. The platform orchestrates all current useful analytical innovations within a single framework to maximize the number of angles being used to look for hidden criminal malignancies. At the core of this solution, Symphony AyasdiAI is adamant that regulated markets need confidence to embrace the risk of innovation, and that their breakthroughs in explainability will succeed in allaying industry fears. The unique focus on an SLA-based contract is also most critical. As Moss continues, "there are too many promises not delivered in AI and especially AML. So if we sign up for something, we deliver and we will be contracted to that goal. Innovation has to be underpinned with confidence, not BS nor marketing gimmicks. Become a Symphony AyasdiAI Sensa™ customer and you can sleep well knowing that we have contracted to perform, discover and transform the transparency of your business." About Symphony AyasdiAI Symphony AyasdiAI, a Symphony AI portfolio company, empowers banks and financial institutions with a complete picture of customer, third party and user behavior to discover crime, risk and competitive opportunity through unparalleled, predictive insight. Using a uniquely powerful combination of artificial intelligence and machine learning, AyasdiAI customers dramatically reduce the time to achieve genuine transparency, with full explainability. Ayasdi Sensa™ leverages unique combinations of topological data analysis, time series and leading analytical innovations to give organizations absolute fidelity for competitive discovery, risk detection and efficiency optimization. Learn more at www.ayasdi.com, LinkedIn, or Twitter. About SymphonyAI SymphonyAI is building the leading enterprise AI company for the digital transformation of the business enterprise, across the most important and resilient growth verticals, including life sciences, healthcare, retail, consumer packaged goods, financial services, manufacturing, and media. In each of these verticals, SAI businesses have many of the leading enterprises as clients. SAI is backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist. Since its founding in 2017, SymphonyAI has grown rapidly to a combined revenue run rate of more than $300 million and over 2,200 talented leaders, data scientists, and other professionals. Visit symphonyai.com. Press Contact:
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