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BNZ signs on to AML tool

Wednesday, October 18th 2017, 6:00AM

BNZ has signed on as one of the first customers of Intel’s Saffron AML Advisor tool, an AI offer designed to help financial institutions keep on top of their AML requirements.

Intel says the tool makes connections between people and data in the same way a human would. It looks for suspicious patterns of activity that could indicate money laundering.

“Intel Saffron’s mission is to minimise the time and effort it takes to reach confident decisions,” said Gayle Sheppard, vice-president and general manager of Saffron AI Group at Intel.

“While the quantity of data is growing, so are the types and sources of data, which means today much of the data isn’t queried for insights because it’s simply not accessible with traditional tools at scale.

“Investigators and analysts will depend on transparent AI solutions to meet the ever-growing demands of consistency and efficiency from a business, regulatory and compliance perspective.”

Tags: BNZ

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