US-based SymphonyAI has launched its Sensa Investigation Hub, a generative AI-enabled investigation and case management platform for financial crime investigation. The Sensa Investigation Hub was designed to leverage predictive and generative artificial intelligence (AI) technology, as well as global domain risk and compliance expertise.

The investigation platform is set to deliver up to 70% increased investigation productivity. The solution will enable accurate, accelerated, and efficient investigation and reporting tools by combining an entity-centric view of risk with the benefits of generative AI. It was designed to also work with existing financial crime products in order to offer a single, unified, and secure view of risk, as well as end-to-end transparency and regulator-friendly auditing.

Included in the set of benefits of the Sensa Investigation Hub are the detection-agnostic, flexible data ingestion which works together with already existing detection solutions, as well as the enterprise-wide risk management, which is aimed to consolidate the risk and compliance tech stack within the platform. The service is set to manage all types of financial crime detection and compliance risks across multiple business units and asset classes, focusing on streamlining operations and reducing complexity as well. At the same time, the Sensa Investigation Hub incorporates an end-to-end view of risk, which starts with AML and includes sanctions, customer due diligence (CDD), know your customer (KYC), and fraud.

Clients will benefit from an auditable decisioning and reporting process as well, as the platform’s transparency is aligned with organisational processes, regulations, and policies.  SymphonyAI’s recent strategy of development AI SaaS company SymphonyAI had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world. In August 2023, EY US announced its partnership with SymphonyAI in order to improve the overall digital transformation of the organisation with generative AI-enabled retail and financial services platforms. The deal aimed to offer enterprises and firms the possibility to leverage predictive and generative AI software implementation at scale for the optimisation of their efficiency and business performance.

According to the press release published at the time, the EY-SymphonyAI alliance was set to focus on financial crime prevention, as well as regulatory compliance. These represented an increasing concern for large financial clients, as multiple fraudsters grew more sophisticated in the procedure of conducting fraudulent transactions, money laundering, and evasion of sanctions. Earlier in February 2023, the London-based securities and investment bank Mizuho International chose SymphonyAI Sensa for anti-money laundering (AML) detection within its European Capital Markets Division.

Throughout this collaboration, SymphonyAI Sensa’s comprehensive and secure scenario rules were set to be combined with advanced machine learning models, such as risk similarities, anomaly detection, changes in behaviours, and hotspot identification. The process aimed to provide insights for more effective and increased risk detection processes. .