Minerva Named Leader in Anti-Money Laundering by FinTech Global

TORONTO – May 8, 2024 – Minerva, a leader in Anti-Money Laundering (AML) compliance technology, announced today that it has been chosen as a technology leader from more than 400 competing enterprises in the fight against money laundering by FinTech Global. With the inclusion of Minerva in the first edition of its FinCrimeTech50 list, FinTech Global has recognized Minerva’s real-time client risk and AML assessment platform as a powerful solution that enables investigators to make accurate and high-quality risk decisions in just a few minutes. 

‍

“As global financial crime trends continue to rise, compliance teams face growing datasets that outpace traditional tools. Given this pressure financial institutions are increasingly turning to artificial intelligence (AI) to improve their fraud prevention, biometrics, risk management tools, process automation, and data analytics,” said FinTech Global director Richard Sachar. 

‍

“Using AI gives us a significant advantage by automating a manual process that could take hours or days and returning results 300 times faster, reducing costs by 55 percent,” said Jennifer Arnold, CEO of Minerva. Minerva uses sophisticated deep learning models and neural networks to analyse billions of data points and sources in real-time across 147 languages to help compliance teams get ahead of financial crime, prevent money laundering, and comply with government regulations. By automating the process with AI, Minerva can provide ongoing monitoring, enabling continuous risk assessment.

‍

Compliance teams face more challenges than ever with rapid updates to PEPs and sanctions lists, the complexity introduced by the adoption of real-time payments, and the widespread use of artificial intelligence (AI) by both criminals and professionals. The FinCrimeTech50 highlights the trend-setters in the world of anti-financial crime and financial fraud prevention space who are focused on supporting businesses in developing their financial crime risk management strategies.

Learn more about all the FinCrimeTech50 2024 here.