Payment’s pioneer and leading Australian payments company, Australian Settlements Limited (ASL), have launched a new solution to combat the growing waves of financial crime.
ASL want to help organisations monitor and prevent financial crime by using this advanced solution that leverages artificial intelligence and machine learning, to analyse behavioural and fraudulent patterns – providing key insights and alerts, predictive models, and recommended countermeasure responses.
Utilising IBM’s latest technology, the announcement is a timely and topical release and comes at a time where a range of organisations have been in the headlines for the wrong reasons. According to the ATO, financial crime costs Australia up to $60 billion annually.
ASL’s Chief Product Officer, Trent Gunthorpe said “Financial Crime is unfortunately increasing across Australia and the world, with fraudsters becoming more sophisticated. We needed to find the latest and best capabilities to monitor, identify and help protect our customers within today’s environment. It is pleasing that we now have this solution to offer our customers. It is a flexible solution, incorporating the latest technologies and sets us and our customers up to evolve as market conditions change.”
“ASL is in constant communication with our customers, consultants, and industry bodies. A solution with the ability to reduce the risk of financial crime in real-time, monitoring high volumes of transactions, and to be able to modify rules in-house within minutes or hours, rather than days or weeks – was key to rounding out our suite of solutions”, said Andy Rigg, ASL’s Chief Customer Officer.
With 24/7 monitoring and protection, backed by dedicated local support, the ASL Financial Crime Solution is for organisations that take the risk of fraud seriously. The solution meets the demand by organisations who want something easy to implement, easy-to-use, scalable, and quickly adaptable to changing business needs.
Many organisations are tired and frustrated with having to use multiple vendors to meet their payment and financial crime management needs. With the announcement of the ASL Financial Crime Solution, ASL are now a truly complete end-to-end, single vendor, payment solutions provider.
Source: Fintech Australia