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SymphonyAI wins RegTech Company of the Year at the FinTech Awards London 2024

07.05.2024 | Henry Fosdike
 

SymphonyAI financial services was awarded for excellence across the board 

SymphonyAI financial services has won RegTech Company of the Year at the FinTech Awards London 2024, a ceremony that recognizes and celebrates the FinTech people and companies making a difference in London. Judged by a host of industry leaders including Chris Woolard, former CEO of the FCA, SymphonyAI emerged as the winner in a competitive field against five other counterparts that offer anti-money laundering software, fraud analytics, and sanctions screening solutions. 

Why did SymphonyAI win RegTech Company of the Year? 

The FinTech Awards London run a competitive process for deciding on the awards shortlist, inviting nominees to present to the independent judging panel and explain why their company deserves to be recognized with the award.  

The judges praised the comprehensive answers from the SymphonyAI representatives, while also being impressed by SymphonyAI’s innovative AI-powered financial crime prevention solutions including the pioneering Sensa Investigation Hub, SensaAI for Sanctions, and the generative AI assistant, Sensa Copilot. Additionally, the panel also appreciated SymphonyAI’s commitment to diversity, equity, and inclusion, the growth strategy of the company, ecosystem engagements, and thought leadership.  

The award is testament to the hard work of the SymphonyAI team and its commitment to combatting financial crime as effectively and efficiently as possible in an increasingly complex environment, as well as the customers and partners that help make everything achievable. 

“SymphonyAI is a relentless innovator in applying predictive and generative AI to reducing financial crime and revolutionizing regulatory compliance, and we are honored to be recognized as the Fintech Awards London 2024 RegTech Company of the Year,” said Mike Foster, president of SymphonyAI’s financial services division. “We combine unparalleled domain expertise from serving as trusted partners financial industry heavyweights worldwide with cutting-edge enterprise-class technology to dramatically transform financial regulatory compliance and crime prevention.” 

What are the FinTech Awards London?

The FinTech Awards London began in 2022 and exist to celebrate the fantastic achievements of people and companies within the capital’s fintech community. With 15 categories and more than 80 nominees, the awards ceremony is an evening to honor industry leaders in areas including InsurTech, PayTech, and more. 

Backed by major sponsors including Aon, Innovate Finance, Deloitte, EY, and London & Partners (who sponsored the RegTech of the Year category), the third Annual Awards took place on 12th June and saw companies including VISA, Accenture, and Clearscore recognized alongside SymphonyAI. 

Who were the judges for RegTech of the Year? 

The FinTech Awards London RegTech of the Year award was judged by a five-person panel of industry experts: 

  • Chris Woolard, Partner at EY, Chair EY Global Regulatory Network, EMEIA FS Regulatory Lead, UK FS Markets Leader (former CEO of the FCA)  
  • David Butcher, Head of Fintech & Cyber at London & Partners  
  • Ed Pugh, Development Director – Fintech and Digital Assets at Aon 

What RegTech does SymphonyAI provide? 

SymphonyAI provides a complete suite of fincrime prevention products. The company’s AI-based SaaS products, which provide unparalleled ability to tackle some of the industry’s toughest scenarios, include intelligence-led know your customer (KYC) and customer due diligence (CDD), AML transaction monitoring software and sanctions screening solutions for dynamic risk assessment. This portfolio is complemented with powerful AI augmentations products that enrich existing investments – reducing false positives by up to 80% while continuing to spot 100% of true positives in a recent proof of concept with a global bank.  

 The Sensa Investigation Hub acts as a fincrime investigation force multiplier with unified enterprise-wide risk and compliance case management, AI payment fraud prevention solutions significantly reduce fraud losses with real-time fraud detection analytics technology.  

Conclusion 

Winning RegTech of the Year is a fantastic acknowledgment of the achievements by the SymphonyAI financial services team over the past twelve months. Not only does it celebrate the company’s commitment to diversity, equity, and inclusion , but it is also helps highlight the power of SymphonyAI’s predictive and generative AI-powered financial crime prevention solutions. 

The awards build on recent achievements, including being selected as Microsoft Partner of the Year for Business Transformation: AI Innovation and named to the AI FinTech 100. This year got off to a vibrant start with new products such as SensaAI for Sanctions, a new and robust approach to sanctions compliance technology, and SensaAI for AML, a new advanced AML solution, on top of these market recognitions. We won’t stop there, however. Keep following us for the exciting announcements in store this year. 

Learn more about the latest solutions from SymphonyAI financial services.

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