SymphonyAI and Absa Group Recognized as ICA Compliance Awards "2024 Technology Partner of the Year" for Predictive and Generative AI SaaS Innovations [Yahoo! Finance]
ABSA GROUP LTD S/ADR (AGRPY)
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Source: Yahoo! Finance
PALO ALTO, Calif., July 08, 2024 BUSINESS WIRE )--SymphonyAI, a leader in predictive and generative AI SaaS products for the enterprise, was named "2024 Technology Partner of the Year" at the recent ICA Compliance Awards 2024 Europe for its partnership with South African-based pan-African bank Absa Group Limited to combat financial crime. SymphonyAI and Absa were selected from among the finalists for using AI to improve transaction monitoring processes, reduce false positives, and discover hidden risk. The ICA Compliance Awards celebrate the outstanding achievements, collaboration, and innovation of compliance and financial crime prevention teams. The award submission from the two companies highlighted key goals for the project: Improve alert quality – reduction of false positive alerts, which would be measured against current alerts, while continuing to identify all known suspicious activity reports (SARs). Improve new risk detection – using AI to detect new risks faster tha
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