Groundbreaking AI and Machine Learning Technology Fights Money Laundering
PALO ALTO, Calif. — April 26, 2022— Symphony AyasdiAI announced today that it has won Gold in the Commercial Technology, Data Security Solutions category at the 2022 Edison Awards. Winning an Edison Award is one of the highest accolades a company can receive for the successful launch of a “game-changing” new product or service. The 2022 Edison Award Winners come from many nations around the world and represent a diverse population of people, products, industries and target communities.
AyasdiAI has pioneered the use of artificial intelligence (AI) for financial crime and anti-money laundering (AML). The company’s SensaAML™ platform is the leading application focused on combatting money laundering and terrorist financing, while helping Financial Institutions achieve their regulatory compliance obligations. This platform is a product of AyasdiAI’s groundbreaking AI and machine learning technology that has been developed over a decade and amassed 44 patents to date.
SensaAML, the most powerful detection engine in the industry, combines topological data analysis (TDA) with unsupervised machine learning to discover the DNA of complex financial crime. Using modern, enterprise, cloud-native application architecture, the platform ingests billions of customer data points and applies advanced AI to explore the hidden relationships and patterns within the data, revolutionizing the way banks detect financial crime.
The complete list of winners is showcased at www.edisonawards.com.
Frank Bonafilia, executive director, Edison Universe, said: “The 2022 Edison Award winners are not only innovators, but also leaders in their field and community. We award this honor for the technological advances and the impact on industry. We know that their innovations will have long lasting effects on the world.”
Simon Moss, CEO, Symphony AyasdiAI, said: “To be recognized by the Edison Awards from over 300 submissions for our work and mission is an honor and outstanding achievement. Financial crime is often complex and difficult to find, and with SensaAML, we’re providing a breakthrough technology that provides unparalleled detection of money laundering and other criminal activities. Such crimes are used to fund terrorists and their exploitation of society’s vulnerable population. We’re committed to continual innovation to bring an end to such heinous activities.”
About the Edison Awards
The Edison Awards™ is an annual honor designed to recognize excellence in new product and service development, marketing, human-centered design and innovation. Started in 1987 and named after Thomas Edison, the vision of the Edison Awards is guided by his legacy, vision and the Menlo Park team who successfully brought an unprecedented number of innovations to the market. Edison Award recipients represent “game changing” products, services and excellence in leadership and innovation. For more information about the Edison Awards, complete program and a list of winners, visit www.edisonawards.com
About Symphony AyasdiAI
Symphony AyasdiAI, a SymphonyAI portfolio company, empowers banks and financial institutions with a complete picture of customer, third party and user behavior to discover crime, risk and competitive opportunity through unparalleled, predictive insight. Using a uniquely powerful combination of artificial intelligence and machine learning, AyasdiAI customers dramatically reduce the time to achieve genuine transparency, with full explainability. Ayasdi Sensa™ leverages unique combinations of topological data analysis, time series and leading analytical innovations to give organizations absolute fidelity for competitive discovery, risk detection and efficiency optimization. Learn more at www.ayasdi.com, LinkedIn, or Twitter.
SymphonyAI is building the leading enterprise AI company for digital transformation across the most important and resilient growth verticals, including life sciences, healthcare, retail, consumer packaged goods, financial services, manufacturing and media. In each of these verticals, SAI businesses have many of the leading enterprises as clients. SAI is backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist. Since its founding in 2017, SymphonyAI has grown rapidly to a combined revenue run rate of more than $300 million and over 2,200 talented leaders, data scientists, and other professionals.