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

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."

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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).

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