Hawk, a provider of AI-powered anti-money laundering (AML), screening, and fraud prevention solutions, has launched Analytics Studio. This new AI lifecycle management solution is designed to offer financial institutions greater control over the creation, maintenance, and governance of their AI models.
With 91% of banks now utilizing AI, the management of AI models has become a critical challenge for financial crime and compliance teams. Analytics Studio addresses this by enabling financial institutions to develop and update AI models efficiently, aligning with regulatory requirements and evolving financial crime typologies. This aims to enhance risk coverage and ensure models are prepared for approval, defense, and audit processes.
Analytics Studio offers anti-financial crime teams flexibility in model management through streamlined AI model development and retraining. Organizations seeking full control can leverage expert-designed financial crime model templates, copilot-guided model creation, pre-built AI performance dashboards, and automated model documentation for rapid, regulator-ready model development. Alternatively, financial institutions can opt to use Hawk’s data science services for initial model development and ongoing maintenance.
The solution allows financial institutions to build and update expert models with reduced reliance on internal or external data science and IT resources, potentially increasing speed and decreasing costs. It also enables embedding financial crime domain intelligence directly into models to improve performance and mitigate risk exposure. Additionally, Analytics Studio incorporates model governance, explainability, documentation, and versioning into the AI lifecycle, which is intended to simplify model approval, defense, and auditing.
Wolfgang Berner, Chief Product Officer at Hawk, stated that while Hawk customers have historically benefited from AI models that outperform the market in crime detection and investigative efficiency, Analytics Studio now provides financial institutions the flexibility to manage the entire model lifecycle themselves, from development and validation to ongoing optimization. This aims to advance their AI capabilities with speed and regulatory assurance.
Analytics Studio is the latest addition to Hawk’s AI-native anti-financial crime platform, which is utilized globally by banks and payment organizations for AML, screening, and fraud prevention, with AI modules designed to enhance the prevention, detection, investigation, and reporting of financial crime.
