Hawk AI and Fourthline partner for next-generation KYC and AML/Fraud Monitoring

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Munich/Amsterdam, 19. July 2023 - Hawk AI, the leading provider of fraud and AML surveillance technology for banks, fintechs, and payment firms and Fourthline, the RegTech leader that provides AI-powered and compliant KYC and AML solutions, today announced a strategic partnership combining Fouthline’s KYC-compliant customer onboarding and Hawk AI’s transaction monitoring to fight fraud and AML. Through the partnership Hawk AI and Fourthline achieve:

  • Personalized screening profiles enable automated and continuous risk monitoring
  • Fourthline’s ongoing monitoring of the customer lifecycle for AML and Fraud activity, Natural persons, Sanctions, Adverse Media, and PEP screening
  • Set up detailed rulesets to track transactions in real-time, screening senders and recipients against global databases
  • Hawk AI’s monitoring of transactions for AML and Fraud patterns with Explainable AI to detect unknown instances of financial crime, with full audit trails for auditors and regulators
  • Continuously self-learning models that improve through ​operator decisions in​ real-time

The partnership will connect Fourthline's comprehensive digital onboarding and business KYC solutions to Hawk AI's transaction monitoring capabilities, providing clients with an all-encompassing and integrated offering that will harmonize the multiple and often complex elements of their AML program. This will result in a better customer experience, enhanced defense against financial crime, and considerable improvements in operational efficiency.

Fourthline, founded in 2017, offers its customers a platform that provides banks and financial services providers with a complete suite of tech products that adhere to local KYC, AML and GDPR requirements in Europe and beyond. This is achieved with a proprietary technology that is fully developed in-house; with explainable automation powered by ethical AI. Its technology can detect and prevent fraud, identity theft, and other financial crimes in real-time. By partnering with Hawk AI, Fourthline will be able to provide its clients with the most innovative AML surveillance technology available.

Hawk AI's software uses a combination of AI and machine learning to detect suspicious transactions in real time, reducing false positives while detecting unknown instances of financial crime. By partnering with Fourthline, Hawk AI will be able to expand its reach and provide its customers with an even more extensive solution for AML compliance.

The combination of Fourthline's and Hawk AI's solutions will empower clients to scale internationally, safely, and efficiently in the fast-changing regulatory landscape. Together they will provide an end-to-end solution from customer onboarding to monitoring customer relationships. Thereby improving both the customer experience and the rate of crime and fraud detection.

Krik Gunning, CEO of Fourthline, commented: “We are thrilled to partner with Hawk AI. This allows us to integrate our solutions and thereby streamline often complex AML programs for clients. This partnership demonstrates our commitment to innovation and providing our clients with the most agile technologies to keep up with the fast-changing regulatory landscape.”

Tobias Schweiger, CEO of Hawk AI, commented: “We’re excited to partner with Fourthline to bring cutting-edge, real-time surveillance technology to a broader market. The change needed to fight today’s sophisticated financial crime requires a team effort. Whether it’s fraud and AML, explainable AI and rules, or partnerships between leading technology vendors, together is how we drive the industry forward.”

About Fourthline

The Fourthline platform provides banks and financial services providers with a complete suite of proprietary tech products that adhere to local KYC, AML and GDPR requirements in Europe and beyond. Fourthline’s AI-driven solutions unlock compliance for the entirety of the lifecycle, from onboarding, the verification and analysis, through to investigations and continuous KYC, in all stages of business development. 

For more information, please visit Fourthline's website at www.fourthline.com.

About Hawk AI

Hawk AI is a provider of the leading AML surveillance technology for banks, fintechs, and payment firms in Germany. Hawk AI's software uses a combination of AI and machine learning to detect suspicious transactions in real-time, reducing false positives while detecting unknown instances of financial crime.

For more information, please visit Hawk AI's website at www.hawk.ai.

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