In a world inundated with data, traditional methods of financial crime detection are becoming inadequate.
Financial crime remains a challenge for financial institutions (FIs) worldwide, evolving in complexity and scale with each passing day. This shifting threat landscape means that advances and innovations designed to give detecting, preventing and combating financial crime a shot in the arm are increasingly necessary.
Wolfgang Berner, the co-founder and CPO of Hawk, unpacked for PYMNTS the opportunities that large transaction models (LTMs) — generative artificial intelligence (AI) models adapted to financial crime — represent in establishing more robust, accurate and comprehensive detection and prevention mechanisms.