Hawk AI Chosen to Support Inypay Expansion with Anti-Financial Crime Platform

Singapore & Munich, March 12, 2024 – Hawk AI, the leading provider of AI-supported solutions for anti-money laundering (AML) and fraud detection, has been chosen by Inypay to deliver its anti-financial crime platform.

Inypay’s innovative banking services are empowering both businesses and consumers across Southeast Asia with a suite of hyper-personalized financial solutions. From consumer neo-banking services like micro-lending, savings, payments, and remittance, to business-centric offerings such as invoice financing and working capital loans, Inypay’s comprehensive suite aims to foster financial inclusion in the region.

With a fast-expanding international footprint, Inypay needed a scalable anti-financial crime solution to support its growth, recognizing Hawk AI’s cloud-based modular platform as the ideal fit. The scalability of Hawk AI’s technology, coupled with its multi-tenant architecture, ensures seamless adaptation to Inypay’s evolving requirements as they continue to grow and diversify their operations throughout the region. The initial roll-out will see the implementation of Hawk AI’s Customer Screening module, with plans to extend to Transaction Monitoring and other products.

Robin Lee, General Manager of Hawk AI in Asia-Pacific, stated; “We’re proud to be helping Inypay to bring financial inclusion to the vast population of underserved and unbanked customers across Southeast Asia. Preventing criminals from exploiting that mission is essential and we’re pleased to be providing the anti-financial crime technology that will help to keep Inypay’s systems and customers safe.” 

Arivuvel Ramu, Founder and CEO of InyPay, emphasized the significance of robust customer due diligence, stating, “Ensuring the integrity of our customer base is paramount to our success. Hawk AI gives us the tools to fortify our defenses and safeguard both our organization and our valued customers.”

Ramu further highlighted the standout features of Hawk AI’s solution, emphasizing its superior performance, user-friendliness, and modern approach to regulatory compliance. He commended the Hawk AI team for their expertise and responsiveness, noting their critical role in meeting Inypay’s evolving needs.

Hawk AI continued its stellar growth in 2023. Founded in 2018 by finance industry veterans, the company has rapidly scaled globally and currently monitors or screens billions of transactions worldwide. The company’s explainable AI approach has proven to be a game-changer in the industry, enabling financial institutions to drastically reduce false positive rates compared to traditional AML/CFT solutions. Hawk AI’s modular solution can either enhance or replace traditional rules-based systems with AI-powered transaction monitoring, payment screening, pKYC, and fraud prevention in real-time to deliver greater accuracy and reduced noise.

Read More