May 16, 2020

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

c3.ai cybersecurity
financial crime
Digital Transformation
Amber Donovan-Stevens
2 min
C3.ai - Fintech Magazine
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."

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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).

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

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Jun 23, 2021

Singapore FinTech Association launches new networking club

Fintech
singapore
fintechassociation
fintechclub
2 min
The Singapore FinTech Association announced the launch of the SG FinTech Club, to improve the vibrancy of the fintech ecosystem

The Singapore FinTech Association (SFA) has announced the launch of a new SG FinTech Club, which will act as hub that enhances networking among local fintech companies based in Singapore.

The APAC nation, which is a leading regional centre for fintechs, accounting for 13% of Singapore’s GDP in 2020. More than 1,400 fintech companies are based there, employing an estimated 10,000 people. 

Technology is a driving factor within the space, and the SG FinTech Club will act as a base through which knowledge, resources and connections can be shared, as a way to increase the level of expertise in the space. 

According to reports, the SFA will also develop and curate the engagement programmes for the fintech ecosystem. SG FinTech Club members will benefit from hospitality privileges offered by Supporting Partners , such as co-working spaces, which they can leverage on for social engagements. 

The club’s existing membership platform will also enable users to sign up for talent matchmaking sessions, industry expert mentorship programmes, and masterclasses organised by SFA.

SG Fintech Club partnerships

The initiative has attracted the attention of several global fintech leaders, including the Institute of Banking and Finance (IBF). J.P. Morgan has also joined the club as Supporting Partner and Corporate Partner, respectively, to develop skills and career development events.

Speaking about the launch of the new club, Shadab Taiyabi, President of SFA, explained, “We are proud to collaborate with MAS on the launch of SG FinTech Club, and play our part in contributing to Singapore’s thriving FinTech ecosystem. 

“We hope that the Club would be the key platform for inspiration and innovation, where professionals in the financial services sector can come to exchange opinions, network, and explore endless ideas with other like-minded individuals. 

He continued, “Through the Club, we strive to champion and bolster Singapore’s FinTech entrepreneurship growth, facilitate the sharing of insights, collaborations, discussions and advocate the importance of upskilling amongst professionals across the financial services industry.”

Image credit: Singapore FinTech Association event

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