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Ondato partners for modular, biometric compliance solutions with transaction monitoring

Ondato partners for modular, biometric compliance solutions with transaction monitoring
 

Anti-money laundering transaction monitoring provider Hawk AI entered a new partnership with know-your-customer (KYC) compliance management platform Ondato.

The new collaboration will see the companies jointly offer an integrated KYC validation process combined with a state-of-the-art AML transaction monitoring and behavioral analytics suite.

Following the integration, customers will be able to take advantage of Ondato’s biometric video and photo identification technologies while also enabling companies to monitor, and screen users using Hawk AI’s software.

The novel product will also reportedly increase the companies’ ability to identify suspicious behavior and intentions of potential criminals during the KYC process.

“Partnering with Ondato enables customers that are evaluating advanced KYC solutions a seamless path to integrate AML and behavioral analytics at the same time,” comments Hawk AI CEO Tobias Schweiger.

“For fast-growing banks and payment firms, access to a comprehensive compliance offering has many advantages including much faster integration and go-live,” he adds.

Liudas Kanapienis, CEO and co-founder of Ondato echoes Schweiger’s point, saying the partnership with Hawk AI will enable Ondato to expand biometric client onboarding and compliance management towards behavior monitoring.

“Combining Ondato and Hawk AI expertise will help our clients to get multiple solutions in one place and adapt them according to their needs,” Kanapienis concludes.

The executive also recently contributed to Biometric Update with an analysis of startup valuations and user adoption rates.

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