C3.ai: transforming financial crime detection with ML and AI

By Amber Donovan-Stevens
This week FinTech Magazine takes a closer look at a company that is revolutionising financial crime detection in the industry: C3.ai. Through its finan...

This week FinTech Magazine takes a closer look at a company that is revolutionising financial crime detection in the industry: C3.ai.

Through its financial crime prevention technology, C3.ai is transforming the cybersecurity landscape. It’s Suite, C3 Anti-Money Laundering™, improves the efficiency and accuracy of Suspicious Activity Report (SAR) identification through the use of comprehensive machine learning techniques. The suite also provides a comprehensive understanding of a customer by integrating data from internal KYC systems, as well as external sources such as PEP lists, and media search results. 

Features of C3 Anti-Money Laundering:

  • Prioritise investigations 

  • Access internal and external data

  • Create evidence packages

  • View granular detail

  • Perform ad hoc analysis

  • Review risk factors 

  • Expand and modify risk analytics 

  • Configure sophisticated UI 

  • Identify associated parties 

  • Augment investigations

  • Create SARs

  • Integrated Escalation 

The suite enables the reduction of false positive alerts by as much as 85%, while increasing SAR identification by up to 200%. C3 Anti-Money Laundering combines data from banking systems, transaction monitoring systems, KYC systems, and external sources, allowing processes to function from one centralised platform. The testimonials for C3.ai as a company are impressive, with Lt. Col. Dave Harden of the US Airforce, an institution we reported on in 2019, commending the software company: “working with c3 has been the talent” with “great programmers who are willing to figure out new ways to do business."

SEE MORE: 

About C3.ai

Founded in 2009 by Chairman and CEO, Thomas M. Siebel, C3.ai is a software company that has assisted in optimising cybersecurity through the leverage of AI, Big Data and IoT for a number of big names, including Baker Hughes and Royal Dutch Shell. Dan Jeavons, General Manager for Data Science, Royal Dutch Shell, said of the company: "The combination of our data science expertise and the software development expertise that C3.ai brings is really powerful."

Applications built by C3.ai:

  • C3 predictive maintenance

  • C3 inventory organization

  • C3 energy management

  • C3 anti-money laundering

  • C3 sensor health

  • C3 fraud detection

  • C3 supply network

  • C3 CRM

Headquartered in Redwood City, California, United States, C3.ai has ranked in the world’s best cloud companies for three consecutive years (2017-2019).

For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.

Follow us on LinkedIn and Twitter.

Share

Featured Articles

Top 10 Middle East fintechs to watch in 2023

As fintech skyrockets in the Middle East, we track the top 10 fintechs to watch in 2023, from all-digital banks to ride-share companies and beyond

Fintech innovation and the alternative finance space

The alternative finance space is gaining ground against traditional institutions, so we take an in-depth look at modern methods of financing

Fintech focus: How to stay resilient during the downturn

As investment opportunities shrink and startups put the brakes on expansion, we spoke to industry experts about how startups can increase resilience

How the economic climate is impacting alternative finance

Financial Services (FinServ)

Has the ‘gamification’ of investing apps gone too far?

Financial Services (FinServ)

Top 10 Digital Reports & Consultancies for the fintech space

Financial Services (FinServ)