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AI Technology is coming to the world of Banking!

November 7, 2017

Bank of New Zealand Joins Intel Saffron Early Adopter Program to Accelerate Adoption of Innovative AI Technologies in the World of Banking

 

Intel Saffron Anti-Money Laundering (AML) Advisor uses explainable AI to enhance decision-making for investigators and analysts. Associative memory AI finds and explains multidimensional patterns so that investigators and analysts can explore emerging trends across a bank’s or insurer’s data.

 

With an unsupervised learning approach, the AML Advisor unifies structured and unstructured data from enterprise systems, email, web and other data sources to deliver insights along with the explanation of how connections were identified.

 

Additionally, the AML Advisor provides the transparency required to comply with ever-tighter regulatory standards.

 

Intel Saffron Early Adopter Program partners with five select organizations to utilize the latest developments in associative memory AI to shape the future of financial services.

 

Total financial crime is at all-time highs. According to the United Nations, the estimated amount of money laundered globally in one year is 2 to 5 percent of global GDP, or $800 billion to $2 trillion.1 In addition, in 2016 alone, approximately 15.4 million consumers were victims of identity theft or fraud, resulting in $16 billion in losses.

 

Working with Intel Saffron on truly cutting edge technology that will enable to understand customers far better than ever before and help them make smarter and safer decisions.

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