Germany-based HAWK:AI has been chosen by OTTO Payments for scalable anti-money laundering (AML) compliance software. With the partnership, OTTO Payments will make use of HAWK:AI’s transaction monitoring and customer screening technology, supported by explainable AI, to ensure effective AML compliance.

Besides meeting regulatory requirements, OTTO Payments wanted an AML solution that would offer efficiency in detecting financial crime. The scalability and accuracy of HAWK:AI's technology, combined with its explainable AI and intuitive user interface, made it a suitable choice. Officials from HAWK:AI said they are happy to welcome OTTO Payments as a client of their AI-powered transaction monitoring and customer screening technology.

Hawk AI’s mission is to be a formidable ally against the escalating volume and sophistication of financial crime. Our scalable technology empowers organizations to forge ahead with ambitious growth plans, all the while fortifying their defences against the threats of money laundering and fraud.” Also commenting on this partnership, OTTO Payments’ teams explained that due to rapid growth, they were looking for a trusted provider that could rapidly implement a robust system, and ensure performance well into the future. The Hawk AI team demonstrated their technology prowess and willingness to work closely with OTTO’s teams to hit ambitious goals.

They look forward to a strong relationship that ensures a high level of AML compliance. Hawk AI is on track for another year high growth, thanks to growing demand for its explainable AI technology. Banks and payment organisations worldwide are using Hawk AI’s platform to improve fraud detection and AML compliance.

The company’s modular solution can either enhance or replace traditional rules-based systems with AI-powered customer and transaction screening, which delivers greater accuracy and reduced noise. What does Hawk AI do? Hawk AI is a provider of AI-supported anti-money laundering and fraud detection technology. Banks, payment providers, and fintechs globally are using Hawk AI’s combination of traditional rules and explainable AI to improve the effectiveness of their AML compliance and fraud prevention by identifying more crime, while maximising efficiency by reducing false positives.

Hawk processes billions of transactions across 60 countries, working with prominent financial partners and payment processors. More information about OTTO Payments OTTO Payments received its BAFIN license in June 2022. Currently, around 200 employees work for OTTO Payments and have been handling the entire payment processing for the OTTO marketplace with over 6,000 merchants since 2023: with a volume of over EUR 6 billion and peaks of over ten orders per second.

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