FIS Launches First in a New Series of AI-Enabled Risk Solutions with C3 AI

Published 

FIS today announced the first in a new series of solutions developed in partnership with C3 AI to help capital markets firms tap into the power of their organisational data to increase efficiency and better manage regulatory compliance and risk.

The AML Compliance Hub leverages C3 AI’s advanced machine learning technology, combined with the deep financial industry domain expertise of FIS, to dramatically improve the efficiency of financial crime detection. Designed to help capital markets firms fight the increasing threat of financial crime, the machine learning-based platform aggregates and analyses client data across disparate systems to enhance AML and KYC processes, improving decision-making and reducing false positive alerts.

“As an early adopter of AI technology in our solutions, FIS is accelerating our investment in machine learning to help our clients better take advantage of the vast amount of structured and unstructured data within their systems,” said Nasser Khodri, Head of Capital Markets at FIS. “From cost savings through AI-powered automation to enhanced decisioning and analysis, AI offers great promise for forward-looking financial institutions that want to tap into their data for competitive advantage.”

Recent research from the FIS Readiness Report shows that 78% of capital markets firms plan to invest in AI in 2021 to advance their strategic goals.

“We predict that AI will increasingly be a vital tool for capital markets firms in a wide range of use cases and applications,” said Sidhartha Dash, research director at Chartis Research. “AI has significant potential in the fight against financial crime through its ability to aggregate data and apply learnings from past events to automate decisioning. The technology also has great potential in streamlining workflows and cutting costs associated with onerous, manual data review processes.”

The FIS Compliance Hub provides a dashboard view where users can view reports and receive alerts as to key risk drivers, suspicious activity, and AML scoring. By reducing false positives, organisations can focus on true threats that require dedicated attention and timely action.

“Money laundering and other illegal activities are dynamic, fast-moving challenges for the financial services sector, and the data necessary to identify financial crimes are segregated across numerous disparate systems,” said Ed Abbo, president and chief technical officer at C3 AI. “Existing rules-based detection systems generate an excessive stream of false positives that require costly and inefficient manual review and increase the risk of missed investigations. By leveraging C3 AI’s advanced capabilities to unify and analyse all relevant data using machine learning, The FIS AML Compliance Hub is a next-gen solution that can accurately identify, prioritise, and report suspicious activity, while simultaneously reducing the number of false positives.”

The partnership with C3 AI is reflective of FIS’ focus on partnering with innovative companies to accelerate its ability to deliver disruptive new technologies and solutions into the market.

FIS

Most recent episodes

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25