BOSTON – Datos Insights is pleased to announce the winners of the 2024 Fraud & AML Impact Awards. These awards recognize and celebrate the industry’s leading and impactful fraud and anti-money laundering (AML) innovations.
As financial crimes become increasingly sophisticated and regulatory scrutiny intensifies, the need for innovative solutions to combat fraud, money laundering, and other illicit activities has never been greater. Now in its fourth year, the Fraud & AML Impact Awards program identifies the organizations and vendors whose new and disruptive financial crime innovations are helping the industry counter escalating financial crime threats. Award recipients and their innovations address critical challenges across the fraud and AML landscape, leveraging advanced technologies such as artificial intelligence, machine learning, and data analytics to enhance the effectiveness and efficiency of industry efforts.
This was an extremely competitive year with a wide range of strong submissions. Rather than acknowledging only the award winners as in years’ past, Datos Insights is recognizing the top two submissions in each award category.
The 2024 winners and silver medalists for Fraud Innovations are:
Best Authentication Innovation
- Winner: TransUnion
- Silver Medalist: Prove Identity
Best Transaction Fraud Monitoring and Decisioning Innovation
- Winner: Mitek Systems
- Silver Medalist: DataVisor
Best Digital Identity Verification Innovation
- Winner: Socure
- Silver Medalist: LexisNexis Risk Solutions
Best Scam/Authorized Push Payment Fraud Prevention Innovation
- Winner: Feedzai
- Silver Medalist: Fair Isaac Corporation (FICO) and Jersey Telecom
Best Innovation by a Financial Institution
- Winner: Monzo
The 2024 winners and silver medalists for AML Innovations are:
Best Know Your Customer/Business Innovation
- Winner: WorkFusion
- Silver Medalist: Experian
Best AML Transaction Monitoring Innovation
- Winner: NICE Actimize
- Silver Medalist: Eastnets
Best Sanction/Watchlist Screening Innovation
- Winner: FinScan, an Innovative Systems, Inc. solution
- Silver Medalist: Socure
Best Financial Crime Investigation and Reporting Innovation
- Winner: SymphonyAI
- Silver Medalist: BioCatch
Best Joint AML and Fraud Transaction Monitoring Innovation
- Winner: DataVisor
- Silver Medalist: Fraud.net
The award winners and finalists were evaluated on the following criteria:
- Level of innovation
- Competitive advantage
- Market need
- Financial crime risk mitigation
- Impact on customer experience and operational efficiency
- Integration and scalability
- Future roadmap
“The financial crime landscape continues to evolve rapidly, with criminals employing increasingly sophisticated techniques to evade detection. Traditional approaches to fraud prevention and AML compliance are often insufficient to keep pace with these evolving threats,” says Chuck Subrt, Fraud & AML Practice Director at Datos Insights. “In response to these challenges, the industry is seeking innovative tools and solutions that can streamline processes, reduce false positives, uncover hidden risks, and provide more comprehensive and accurate risk coverage,” he explains.
The winners and silver medalists were selected by a panel of fraud and AML industry experts and Datos Insights strategic advisors. The identification of any Datos Insights award winners or silver medalists is not an endorsement by Datos Insights of any vendor, product, or service.
To request additional information about Datos Insights’ Fraud & AML Impact Awards, please contact us at [email protected].
About Datos Insights
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils.