We are happy to report that INFORM GmbH and BigML have agreed to terms on a preferred partner program to further ingrain best practice machine-learned algorithms to the daily fight against financial crime with RiskShield.
We have collectively recognized great synergies between our respective technologies and will bring a unique approach to the fight against fraud, money laundering, and other financial crimes by seamlessly combining knowledge-based and machine-learned models. The financial crime-fighting space itself presents a multi-billion euro market opportunity. However, we have already jointly identified other application areas as well for the powerful RiskShield decision engine with its expansive feature engineering capabilities to address.
Powerful Real-Time Decision Engine Meets Beautifully Simple Machine Learning Environment
Under this agreement, INFORM will be developing and offering access to RiskShield ML, powered by BigML. RiskShield ML serves as an enhancement to the current RiskShield machine learning offering, making model creation easy and accessible to all organizational functions of its customer base. Customers can develop and train their own models, which can be validated and applied in real-time for detecting new modus operandi of financial criminals. INFORM’s proprietary interface to BigML allows for the seamless integration of data regarding, among other things, transaction decisions, which will be used to dynamically train and update the financial crime-fighting models. INFORM will also serve as a sales and delivery partner for the standalone BigML platform.
BigML’s promise to bring machine learning to everyone in a beautifully simple environment combined with RiskShield’s powerful decision engine further enables financial institutions to take a hybrid Artificial Intelligence (AI) approach to their fraud and money laundering prevention efforts. On the one hand, users benefit from knowledge-based methods such as mixed logic rule sets, fuzzy logic scorecards, dynamic profiling, and blacklists. On the other hand, RiskShield ML, powered by BigML, offers users the ability to take historical transactional data and learn from the decisions using both supervised and unsupervised learning methods.
INFORM and BigML will take the stage together at the upcoming RiskShield International Networking Event on November 28 and 29 to present their new joint solution.
About INFORM GmbH
INFORM GmbH is a global company in advanced optimization software systems and a leader in providing intelligent, customer-centric fraud prevention and AML compliance solutions. With RiskShield we offer a multi-channel platform that detects and manages suspicious activities, minimizing losses and optimizing efficiencies using advanced analytics, machine learning, and intuitive rule management controls. RiskShield provides a robust solution with proven fraud detection results that are reliable, fast and responsive. More than 1,000 companies worldwide benefit from using advanced optimization software systems by INFORM in industries such as financial services, insurance, health care, transport logistics, airport resource management, and production planning. INFORM employs over 750 staff from more than 40 countries.