Anomalia® – AI Ensures Swift and Secure Wire Transfers

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