Nasdaq has announced the first automated solution for investigating anti-money laundering (AML) for retail and commercial banks and other financial institutions.
The cloud-deployed Nasdaq Automated Investigator for AML, is built and offered in partnership with UK-based technology developer Caspian, in which stock exchange recently acquired a minority stake.
Data processing
Nasdaq Automated Investigator ingests alert data from any transaction monitoring system, collates all of the necessary data required for analysis, analyses the data and then replicates complex human decision making to provide a clear, auditable justification for all alerts regardless of volume in seconds.
The solution aims to fill a significant gap in the investigations management process for banks by providing a comprehensive automated investigations management tool.
Artificial intelligence
The technology is powered by multiple variants of artificial intelligence including both supervised and unsupervised learning in conjunction with business rules to provide a significant increase in operational efficiency.
Beyond AML, Nasdaq sees broad applicability for this new category of solutions that it claims the Nasdaq Automated Investigator has established, and plans to roll out functionality across complementary financial crime segments in the future.
Categories: Trade Based Financial crimes News
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