The anti-money laundering system has been upgraded. SYSTEX announced its partnership with AI leader Graphen, inc. to represent its advanced technology "AI for Anti-Money-Laundering". SYSTEX's anti-money laundering system has completed the construction for four to five financial institutions, and now it's adding AI technology to further reduce the chance of false positives. At the same time, it can predict unknown money laundering model, make the detection easier, and more compliant with regulatory requirements. It not only improves financial institutions' anti-money laundering and anti-terrorism capabilities, but can also significantly reduce the risk of non-compliance fines and legal compliance costs.
Zhide Fan, General Manager of SYSTEX Financial Services Business Unit, said that in November this year, APG (Asia-Pacific Money Laundering Prevention Organization) will evaluate the future in Taiwan, from the competence of the authority's financial management committee to financial institutions. Using the leading AI technology, Graphen assists the top three banks in the United States in anti-money laundering detection and cooperates with one of the four major banks in China to conduct non-performing loan risk investigations, which can be used by Taiwan's financial industry in anti-money laundering (AML) and provides experience in practical execution. We also hope that we can assist SYSTEX customers to achieve instant detection of money laundering and fraud through AI technology, significantly reduce the chance of misjudgment, and discover new money laundering models to effectively solve the most pressing challenge for financial customers in Taiwan.
Graphen founder Ching-Yung Lin said that in the Taiwan market, he is looking forward to extending Graphen's experience in money laundering and prevention. Using the Ardi Artificial Intelligence platform developed by Graphen, the company hopes to constructs a world-class money laundering application structure in Taiwan.
Dr. Ching-Yung Lin is an adjunct professor at Columbia University and formerly a Chief Scientist at IBM. Graphen's core team is led by 10 Ph.D. experts and 40 leading researchers graduated from leading AI universities (i.e. Columbia, MIT, CMU, Stanford, etc.), mainly from IBM Watson Research Center, GE Research and the AI team at Goldman Sachs. The service customer includes the top three banks in the United States. Graphen's self-developed artificial intelligence has the advantage of exclusively constructing the core graph computing platform from the bottom layer to achieve a truly mature brain function, and can handle strategic judgments, emotions, and logical inferences that are close to humans in a complex and incomplete information situation.
SYSTEX has successfully assisted four to five large banks and securities firms to complete the implementation of anti-money laundering (AML) system this year in Taiwan, combined with professional resources of financial industry knowledge, project management and product development, and developed their own and extended products. In the future, Graphen's Ardi, Anita, and Adam's three AI platforms will be integrated to create a multi-financial AI solution.
Source: http://ww2.money-link.com.tw/RealtimeNews/NewsContent.aspx?SN=3598626001&PU=0010