SymphonyAI, Sensa, and NetReveal

SymphonyAI takes a fundamentally different approach to AI. Offering tailored predictive and generative AI applications that address core business challenges to deliver rapid, real, relevant results. To do this, SymphonyAI combines cutting edge AI with deep vertical expertise, and it operates across a series of verticals – retail, industrial, media, business IT, and financial services.
To bring AI to the forefront of financial services, improving the way that financial crime investigations are conducted, SymphonyAI acquired two companies – Sensa and NetReveal.

Sensa

Sensa, formerly known as Ayasdi , was launched as a general-purpose AI platform with the most advanced machine learning available. Many organizations in healthcare, telecommunications, high-tech manufacturing, financial services, and others saw significant benefits using Ayasdi. SymphonyAI purchased the company in 2019, and saw exceptional promise in its financial services operation, with Ayasdi AML (Anti Money Laundering) dramatically cutting false positives and reducing investigator workload, allowing a bank to focus its efforts on truly suspicious behavior.

NetReveal

NetReveal is known as one of the leading software programs for detecting financial crime. It won numerous awards and was frequently cited in industry reports from the likes of Celent and Chartis as a high performing product across anti-financial crime categories such as KYC/CDD, AML, fraud, and watchlist management.
Having been in operation for more than twenty years, SymphonyAI purchased the company from BAE Systems in 2022 . The idea was to invest heavily in the software – to combine the world-leading AI knowledge of SymphonyAI, the technical know-how of NetReveal, and the machine learning capabilities of Sensa to create a complete end-to-end financial crime prevention detection solution, all powered by AI.

Bringing AI into financial crime detection and prevention

SymphonyAI works in a different way to other financial crime prevention companies within the industry. Rather than simply adding on AI because everyone was talking about it as the next big thing, SymphonyAI was coming from the other direction. In effect, starting with the AI capabilities – both predictive AI and generative AI – and bringing the financial crime prevention solution inside it. Although it may sound similar, it is a fundamentally different approach to bringing AI tools to financial institutions, working with AI from the ground up, focusing on how best it can be implemented and used by financial crime investigators for maximum effectiveness. (SymphonyAI has also worked in this way with its other verticals in retail CPG, media, business IT, and industrial sectors).

The rise of SymphonyAI financial services

From integration to augmentation, the complementary nature of NetReveal and Sensa was clear and paved the way for the AI-aided Sensa-NetReveal transaction monitoring solution. However, SymphonyAI is on a mission to go from AI-aided to AI-led and the next launch was proof of this vision. The launch of Sensa Copilot marked the start of a new era for financial crime prevention and the joint products of NetReveal and Sensa under SymphonyAI.
A generative AI assistant, Sensa Copilot speeds up the productivity of investigators by quickly finding the information they require and collating it into an easy-to-understand context for the case file. Alongside this, Sensa Copilot also assists in generating suspicious activity reports (SARs), and creating narratives of an investigation’s progress, to help when a case is escalated to another investigator.
It isn’t just the frontend that is beneficial for enterprises either; behind the scenes, it is also possible to use the AI for important analytics purposes – seeing how investigators interact with Sensa Copilot and iterating on the language learning model (LLM) accordingly. It will soon also be possible to use the AI to assign new tasks to investigators dependent on their seniority, skill level or area of expertise. In short, it hugely enhances a financial institution’s effectiveness, efficiency, and productivity.
Sensa Copilot was just the start. September 2023 saw the release of the Sensa Investigation Hub , a single, enterprise-wide solution for all investigative needs, powered by generative AI. Detection-agnostic and configurable to any use case or asset class. A powerful addition to a financial enterprise’s arsenal, it offers a centralized view of financial crime across business units for an entity-centric view of risk. Because it sits atop an institution’s existing detection software, it allows access to AI services even if an existing provider is not currently providing them. Improving investigation efficiency by up to 70%, it is a game changer for the industry.

From SymphonyAI Sensa-NetReveal to SymphonyAI

In a short amount of time, SymphonyAI has revolutionized financial crime detection and prevention. The Sensa Copilot is becoming yet more powerful, soon to be key to all aspects of a financial crime investigation, not just AML. These achievements are only possible by working as one – one vision, one team, and solutions that embody both – and that’s the core of SymphonyAI.
If you’re interested in learning more about SymphonyAI and how we are going to be combatting financial crime far into the future, to learn more.reach out to us to learn more.