Anomalia® AI Ensures Swift and Secure Wire Transfers

Anomalia® Fraud Detection in Wire Transfers harnesses the true power of Artificial Intelligence by using proprietary algorithms and connectors to automate several steps such as pre-processing, cleansing and harmonizing originator & beneficiary names, addresses, ACH/ABA codes, which enables the fraud identification process to be nimbler and economical. This software app identifies patterns related to the originators (i.e., financial institution’s clients) and beneficiaries, particularly if these beneficiaries occur in other wire transfers or have a high anomaly score (due to common or less frequent scams).

Key Features

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Anomaly Detection
Library of 25+ proprietary supervised & unsupervised algorithms, pre-trained & tested for our products
External Data Enrichment
40+ scrapers & connectors for ingesting web & paid data subscriptions, e.g., news, social media, traffic, geo-location, sanction lists
Domain Ontologies
Prebuilt financial ontologies & business rules that will improve over time
Knowledge Graphs
30+ probabilistic spatial & temporal graph algorithms to determine links & connected entities
Reinforcement Learning
In-built reinforcement learning algorithms that improves our products’ performance over time “with & without a human loop
Reverse Engineering
60+ proprietary AI algorithms to identify transformations & business rules and to fix errors
User Interface and APIs
Pre-built graphical user interface (GUI) & APIs for quick deployment & integration with clients’ workflows
Cleansing & Harmonization
60+ algorithms for cleansing, harmonizing & validating data from internal & external sources in 30+ formats, e.g., JPEG, video, PDFs
Product Accuracy
Upto 96% accuracy that improves over time with prebuilt ontologies & reinforcement learning
Deployment & Scalability
Highly scalable with parallel & distributed computing with options to deploy on-premise or consume as SaaS
Data Governance
Provides role-based access & sends alerts for exceptions to strategies, policies & compliance guidelines
Time & Cost
Upto 75% improvement in time & cost over the current manual process

Feature Rich Solution to Identify Anomalous Wire Transactions

Anomalia®offers some advanced features to determine identify and flag anomalous wire transactions:

  • Advanced AI-based real-time assessment of wire transfers
  • Automated screening of beneficiaries against watch lists & sanctioned lists, and those with high risk score
  • Uses 350+ features to generate out-sorts
  • Provides Single Source of Truth (SSoT) for an entity, which includes name, address & supplement data
  • Provides “Pareto Frontier” to show trade-offs among out-sorts, precision, recall, and fraud avoidance amount
  • Reinforcement learning via human intelligence and machine learning
  • Real-time risk alerts based on several factors including debited and originating accounts, correspondent banks, and geo-spatial locations

Usage of Anomalia®

  • Entity resolution across databases
  • Watch list screening; enhanced KYC & KYCC
  • Geo-spatial risks for wire transfer transactions
  • Identifying originating accounts that are more at risk
  • Using external and internal data to identify common and less frequent scams

Anomalia® Serves

  • Retail and commercial banks
  • Credit unions
  • Investment banks
  • Asset management companies
  • Non-banking financial institutions
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