spotixx brings your fraud and financial crime monitoring into the AI era. Our advanced solutions help you combat money laundering and fraud with sophisticated applications that seamlessly integrate into your existing AFC-systems. Stay ahead with cutting-edge AI technology in fraud detection and AML compliance, powered by a team of experts.
We empower your company
against financial crime
with our AI-driven solutions.
Our innovative solutions help banks effectively address the challenges of fraud and money laundering. With safeAML, a large-scale project developed in collaboration with industry partners, we are connecting banking data to create a powerful tool in the fight against financial crime. At the same time, our add-on products AMALIA and FREDDY bring your AML- and Fraud monitoring into the AI-era. They enhance your existing system with advanced AI capabilities, paving the way for the future of fraud detection.
AMALIA seamlessly integrates into your existing transaction monitoring systems, providing easy implementation without the need for software replacement. Our solution autonomously reviews money laundering alerts, escalating critical alerts to investigator teams and identifying false positives for auto-closing.
With AMALIA, you can minimize risk exposure to money laundering, improve operational efficiency, and optimize the cost of compliance.
Conventional AML systems solely relying on human-discovered Rules often provide inadequate results, overwhelming investigation teams with false positive alerts.
With AMALIA, we introduce a paradigm-shifting solution meticulously crafted to streamline your AML operations and bolster efficiency. Our advanced AI models not only prioritize relevant alerts but also autonomously close false positives, enabling your investigators to focus on genuine threats. Bid farewell to cumbersome approval processes and embrace AMALIA for seamless, effective AML operations.
spotixx provides its clients with optimization rules designed to classify alerts based on the likelihood of alert-to-SAR or alert-to-case. Utilizing sophisticated machine learning models, spotixx generates these optimization rules, ensuring they are easily interpretable and comprehensible, thereby fostering acceptance by regulatory authorities.
We offer support for various optimization scenarios, including:
To learn more about AMALIA: Contact us today!
Introducing FREDDY: a pioneering Artificial Intelligence specialized in the autonomous detection of evolving patterns in payment fraud, designed to enhance security and efficiency in financial transactions. FREDDY is specifically designed for SEPA and instant-SEPA or any similar concept.
Its primary mission: To combat payment fraud by producing effective and efficient Payment-Fraud-Monitoring Rules ready for implementation in your Fraud Detection System.
By harnessing the capabilities of automated Fraud Detection Rules and Score Cards powered by fully transparent Machine Learning methodologies, we have established ourselves as leaders in the fight against fraud.
Our AI-driven solutions excel in deciphering complex fraud patterns, also in the realm of First-Party Fraud like leasing fraud, thereby simplifying the complexities associated with various financing objects, such as real estate, automotive and consumer finance.
Elevate your fraud detection capabilities with FREDDY from spotixx.
To learn more about FREDDY: Contact us today!
Your resume was not processed further, because you did not list ‘soccer’ as a hobby? Your credit inquiry was declined because of your postcode? Your table reservation was refused due to your last name?
These are just a few examples of the biases that can infiltrate automated decision-making processes. Together with Goethe University, we are launching transfAIr, a pioneering research initiative supported by the state of Hesse. Over the next two years, this project will delve into the creation of fair algorithms designed to eliminate bias. Our aim is to revolutionize AI-driven decisions, ensuring they are equitable and just, ultimately empowering humans to make better, fairer choices for everyone.
The EuroDaT research project, also funded by the BMWK, included a use case on AML. During the project, the concept of a basic “safeAML” package for digitizing source of funds requests emerged as a potential permanent solution for banks. EuroDaT, established as a state-owned company in Hesse, acts as a neutral data trustee, ensuring the necessary neutrality and contractual compliance in data usage.
The launch of safeAML, which offers advanced functionalities in the area of digitization in the source of funds request, is scheduled for October 2024. So far four major German banks are participating.
For more information visit www.eurodat.org.
From 2021 to 2023, the safeFBDC research project, funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) and comprising a consortium of ten partners from industry and academia, delved into AI-based methods to enhance the financial sector’s data exchange and analysis capabilities. The goal was to establish a secure, federated infrastructure that maintains data sovereignty. A major outcome of this project is safeAML, which allows banks to link and analyze data to tackle money laundering. spotixx was pivotal in this process, playing a significant role in developing and validating AI models that detect sophisticated money laundering schemes across multiple banks securely and compliantly. The project’s importance is highlighted by its role in the AMLA bid for Frankfurt, demonstrating its critical contribution to combating financial crime.
ask the makers
of safeAML.
Learn more about safeAML:
the game-changing innovation in fighting money laundering.
What is safeAML?
safeAML is the result of years for research and legal consultation. Together with our amazing partners we developed a solution that is compliant with all data protection laws and at the same time lean in data usage. safeAML enables banks for the first time to digitally connect suspicious data and rebuild the networks of criminal transactions via the neutral data trustee EuroDaT.
How is safeAML different to previous processes?
The existing process of requesting the origin of funds is done manually, by phone or email. This way of investigating criminal acitivity is prone to mistakes, takes a lot of time and is inefficient. With safeAML, we are digitizing this fundamental procedure, making it asynchronous and thus faster.
What are the key features that differentiate safeAML from other AML solutions on the market?
As it is now, every bank has its in-house software solution to detect money laundering and fraud. This data only exists within the banks in silos. Connecting this data across banks has previously not been possible due to data protection laws and the general sensitivity of bank transactions. The development of safeAML now enables banks to connect their data – in cases of suspicious transactions – in a fast, secure, and most importantly, compliant way that is based on minimal data usage.
Could you describe a typical use case for safeAML and its impact on financial institutions?
When using safeAML, the investigator from a bank simply enters a suspicious seed transaction of their customer account. safeAML then iteratively collects information about accounts and transactions from involved banks. Within a short amount of time, the investigator receives an insightful network graph, that condenses masses of network information into meaningful connections between actors in the network. With suspicions confirmed and documented, further necessary steps with the regulatory institutions can then more easily be initiated.
How does safeAML leverage AI to enhance AML compliance?
safeAML delivers a comprehensive graph in an interactive UI that the investigator can modify, search, and query for information. Additionally, it highlights useful information about relationships, such as aggregations of behavior, statistical indicators, and topologies.
In what way does safeAML ensure the security and privacy of the data it processes?
The data exchange is fully encrypted and takes place through a specifically created data trustee that is run by the state of Hesse. Banks can only see a limited amount of information, such as the BIC numbers. IBANs are only shown, if the bank has the according privilege to see them. During the processing, all information is encrypted and anonymized, and every bank holds its own encryption key.
How do you see the role of AI evolving in the fight against financial crime in the next few years?
The speed at which artificial intelligence is currently evolving is unprecedented and offers incredible potential to change a market that is slow to adapt to change. But with the successful implementation of reliable and understandable AI, that supports humans in their daily work and gives them better results, anything is possible. We believe that fighting financial crime is an ongoing evolutionary process, as fraudsters and criminals try to exploit any potential flaw in our systems. With AI, these systems can detect fraudulent behavior faster and more accurately, thus enabling investigators to improve reactions and speed up criminal investigations.
What future enhancements or features can users expect from safeAML as it continues to evolve?
With the right legal framework and the cooperation between banks and investigative bodies such as the FIU and AMLA, we see a high potential to beat organized crime and destroy existing structures and flows of money into illegal transactions. With safeAML, we take a giant first step to connect previously untapped data potential, that will unveil and expose criminal activities. As we develop safeAML further and engage more banks on an international level, investigational speed will improve and new schemes can be detected faster, making it ever more difficult for the criminal mind to pursue their activities.
Discover how biased software can impact your daily life, from job applications to loan approvals. Learn why this hidden issue is more than just a technical glitch and what steps we can take to ensure fairness. Dive into the world of algorithms and uncover the truth behind software bias.
The “transfAIr” project, a joint effort by spotixx and Goethe University of Frankfurt, is on a mission to tackle bias in the financial market. This innovative research explores how biased and unbiased data influence financial algorithms, aiming to create more equitable and accurate financial systems. Learn how this project is paving the way for a fairer financial future.
Do you want to know more, about how we can help you and your company to fight fraud and money laundering? Just leave us as message here and we will get back to you asap.
spotixx was founded five years ago with a small team of seasoned financial crime experts.
Since then we have grown and have successfully reached the break-even point. Now we are poised for growth!
Right in the heart of the European Financial World, in Frankfurt we started our company. We even participated in a research project that was the official application of the city of Frankfurt for attracting the AMLA. In 2023 we also established an office in Wilhelmshaven.
We are a team of skilled and trained experts, specialized in detecting and preventing fraud and money laundering from all over the world. See our open positions or just have a coffee with us!
We are currently growing and always looking for great talent.
Check out our open positions and join us
in the fight against fraud and money laundering.
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