PALO ALTO, Calif., March 13, 2024 – SymphonyAI, a leader in predictive and generative enterprise AI SaaS, today announced that it was recognized by industry researcher Chartis for gen AI innovation and financial crime and compliance capabilities. The Chartis GenAI Initiatives Award recognizes the strength of the SymphonyAI Sensa Investigation Hub and Sensa Copilot, which combine industry-leading predictive and generative AI with deep financial crime detection domain expertise. In addition, SymphonyAI is ranked among the top three vendors in the inaugural Chartis Financial Crime and Compliance 50 (FCC 50) Ranking.
The Chartis FCC report provides an in-depth analysis of vendors excelling in the realm of financial crime prevention and compliance. Leaders from the FCC 50 report were announced at the March 13 Financial Crime and Compliance 50 event. The Chartis FCC report provides precise insights relevant to specific aspects of the compliance solutions market. SymphonyAI received the top three ranking for its effectiveness in innovation, market responsiveness, and comprehensive solutions offerings.
At the core of SymphonyAI’s financial crime prevention suite is the industry-leading generative and predictive AI Eureka architecture, a platform for ethical AI that utilizes built-in authentication, enterprise-class security and privacy, and robust authentication protections to enable secure collaboration. The combination of advanced generative and predictive AI technology and SymphonyAI’s extensive global financial crime detection expertise means that SymphonyAI financial crime and compliance solutions deliver quantum leaps in productivity for financial crime investigators.
SymphonyAI’s financial crime and compliance solutions reduce the complexities and costs financial institutions face in financial crime detection through AI, advanced risk detection, and alert management analytics. The Sensa Investigation Hub is a unified case management platform that consolidates risk for an enterprise-wide, entity-centric view across AML, KYC/CDD, screening, and payment fraud. As part of the Sensa Investigation Hub, the Sensa Copilot arms every investigator with a generative AI-powered assistant that can source, analyze, and summarize data at scale, accelerating investigation times by up to 70%. In addition, powerful SensaAI augmentations give AI upgrades to existing solutions, including AML and sanctions screening, evolving risk detection, and match accuracy without complex deployments.
“Financial crime bad actors are increasingly brazen and aggressive in their use of sophisticated technologies, including AI,” said Nick Vitchev, research director at Chartis. “It’s imperative that financial institutions keep pace by adopting technology that combines predictive and generative AI with rules-based guidelines to detect and prevent proliferating financial crime. SymphonyAI provides these capabilities through its Investigation Hub and Sensa Copilot, and continues to invest in predictive and generative AI innovation to ensure its global customers can combat financial crime effectively.”
“I am delighted and excited with this recognition by Chartis in the new Financial Crime and Compliance 50 Ranking and the GenAI Initiatives Award for our powerful AI-led financial crime detection innovations,” said Mike Foster, president of SymphonyAI’s financial services division. “SymphonyAI’s strong ranking reflects our relentless focus on giving financial institutions the power of leading predictive and generative AI technologies, including additional copilots soon to come to market. Our unparalleled technology leadership and deep financial crime detection domain knowledge are the foundation for a global customer base of hundreds of leading financial institutions. SymphonyAI’s award-winning software and industry expertise position us to enable financial crime investigators worldwide to achieve astonishing efficiency and accuracy breakthroughs in crime detection and compliance.”
About SymphonyAI
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, financial services, manufacturing, media, and business IT. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is an SAIGroup company, backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist.
Media Contact:
Alison Raffalovich, SymphonyAI
Alison.raffalovich@symphonyretailai.com
