Financial Crime Data Analytics Gains Momentum in India

A New Era of Financial Crime Prevention

In recent years, the threat of financial crimes has grown exponentially in India. To combat this menace, companies are increasingly turning to data analytics as a key tool for early detection and prevention. Amidst this backdrop, a leading global solutions provider has unveiled an advanced financial crime data analytics platform that promises to revolutionize the way businesses tackle money laundering, terrorism financing, and other illicit activities.

Key Features of the New Platform

• Fast and Data-Backed Decision-Making: The new platform enables fast and data-backed decision-making without requiring a rip-and-replace approach to existing systems.
• Easy-to-Use Interface for Data Exploration and Visualization: Users can import their own data, build and run transformations, and augment and join data within an integrated visual pipeline of activities.
• Quick Operationalization of Analytical Models: Automated techniques allow users to implement analytical models in just a few clicks, with easy registration, validation, tracking, monitoring, and retraining of models over time.

Seamless Integration with Existing Transaction Monitoring Platforms

The platform works seamlessly with current anti-money laundering (AML) systems, minimizing disruption to business operations. This ensures that businesses can continue to operate efficiently while still benefiting from the advanced features of the new platform.

Advanced Machine Learning Techniques

• Building and Refining Predictive Models: The platform offers advanced machine learning techniques for building and refining predictive models.
• Visual Exploration and Evaluation: Users can visually explore and evaluate segments for further analysis using k-means clustering, scatter plots, and detailed summary statistics.
• Intelligent Customer Segmentation: The platform can perform intelligent customer segmentation, entity resolution, and scenario threshold tuning with above-the-line/below-the-line testing.

Built on SAS Viya

The solution is built on SAS Viya, a cloud-native, elastic, and scalable platform that supports growth in transaction volumes and complexity of model validation. This enables businesses to rapidly process large data sets and accelerate the complex analytics life cycle from data preparation to discovery to deployment.

As India continues to grapple with financial crimes, this cutting-edge technology is poised to play a significant role in helping companies detect and prevent illicit activities, ultimately protecting their reputation and bottom line.