The winners of Datos Insights’ Impact Awards in Fraud & AML are leading the industry and pioneering new and disruptive financial crime products and capabilities. Their innovations are bringing the financial services industry one step closer to triumphing in the fight against fraud, money laundering, and other illicit activity.
The 2024 winners and silver medalists for Fraud Innovations are:
Best Authentication Innovation
Best Transaction Fraud Monitoring and Decisioning Innovation
Best Digital Identity Verification Innovation
Best Scam/Authorized Push Payment Fraud Prevention Innovation
Best Innovation by a Financial Institution
The 2024 winners and silver medalists for AML Innovations are:
Best Know Your Customer/Business Innovation
Best AML Transaction Monitoring Innovation
Best Sanction/Watchlist Screening Innovation
Best Financial Crime Investigation and Reporting Innovation
Best Joint AML and Fraud Transaction Monitoring Innovation
1. Best Authentication Innovation: New solutions or innovations that deliver best-in-class identity proofing and/or user authentication (Note: nominated solution may be transparent to the user and not require user action or it may require user action).
2. Best Innovation by a Financial Institution: New solutions or innovations developed and implemented by a Financial Institution that deliver robust fraud mitigation while supporting elevated customer experience and operational efficiency.
3. Best Transaction Fraud Monitoring and Decisioning Innovation: New solutions or innovations that deliver superior transaction fraud analytics, monitoring, detection, and case management solution that protect the financial transaction.
4. Best Digital Identity Verification Innovation: New solutions or innovations that deliver exceptional individual identity verification in a digital (aka non-face-to-face) environment leveraging PII and non-PII information.
5. Best Scam/APP Fraud Prevention Innovation: New solutions or innovations that deliver exceptional detection and prevention of scam fraud (aka authorized push payments/APP fraud) on the sending and/or receiving side of the transaction.
1. Best Know Your Customer/Business (KYC/KYB) Innovation: New solutions, innovations, or datasets streamlining and enriching the KYC processes underlying the onboarding, servicing, and ongoing risk profiling and due diligence of individual and corporate customers.
2. Best AML Transaction Monitoring Innovation: New solutions, innovations, or datasets that elevate ongoing risk-based AML transaction monitoring to detect suspicious or unusual activity indicating potential money laundering, terrorist financing, or other illicit activity.
3. Best Sanction/Watchlist Screening Innovation: New solutions, innovations, or datasets that optimize the risk-based checking of individuals, entities, and incoming and outgoing payments and transactions, against sanctions, Politically Exposed Person, and adverse media lists as well as other risk relevant information.
4. Best Financial Crime investigation and Reporting Innovation: New solutions, innovations, or datasets that transform and modernize the tasks and processes supporting prioritizing, decisioning, and documenting suspicious activity and watchlist filtering alert investigations, as well as developing and submitting necessary reporting to senior management and regulatory authorities.
5. Best Joint AML and Fraud Transaction Monitoring Innovation: New solutions, innovations, or datasets that facilitate increased collaboration and/or detection across fraud and AML functions by streamlining or optimizing information and data sharing or mining, case management, detection or investigation.