At Neonomics, we are delivering the next-generation of payments and financial services across the Nordics and Europe. To ensure that our services provide customers with robust Know your Customer (KYC) and Anti-Money Laundering (AML) security, we integrated an advanced AML compliance system provided by Hawk AI. This integration both strengthened and streamlined our  transaction monitoring, payment screening, customer screening, and perpetual KYC (pKYC) risk management.

As a leading open banking provider, Neonomics connects over 2,500 banks and 150 million customers across Europe through a secure and cost-efficient PSD2 API platform. With this extensive reach, we needed a scalable financial crime solution that could handle our expansion and ensure the highest standards of effectiveness and efficiency.

We chose Hawk AI because they offered an advanced solution that delivers outstanding results, particularly in its screening and re-screening capabilities and a willingness to innovate together to shape the future of financial services. Norway has very stringent regulatory controls and sets the compliance bar very high for providers that are licensed here. Hawk AI helped Neonomics set up a solid foundation to both meet and exceed regulatory requirements.

“Neonomics takes an ambitious approach to fighting financial crime. We don’t just want to be compliant; we want to be excellent.”

Anne Kristine Giltvedt Selbekk, Head of Anti-Financial Crime at Neonomics

Hawk AI enables us to provide a comprehensive monitoring and screening system that is designed to scale efficiently. This includes:

·      Transaction Monitoring: To identify criminal activity more quickly and in more depth.

·      Payment Screening: Conduct real-time screening against various lists to enhance security.

·      Customer Screening: Automate updates and streamline re-screening processes.

·     pKYC risk management: Links transactional behaviour with risk ratings for ongoing KYC processes.
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Looking ahead

As well as extending the breadth of Hawk AI’s solution, Neonomics will also extend the depth with Hawk AI’s machine learning capabilities to make our KYC and AML efforts even more efficient. “Hawk AI accelerated our journey to AI. We want to be ahead of the game, spotting trends in financial crime and Hawk AI has been a great partner with us on that journey," said Anne Kristine.

Our journey to boost AML/KYC capabilities shows how our commitment to offering top-notch financial services, security and is leading the way in fighting financial crime. To learn more about our partnership with Hawk AI, read the full case study: How Neonomics Streamlined AML Monitoring with HAWK AI

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