Bank of Valletta, Malta’s largest bank, has partnered with Resistant AI, a financial crime prevention fintech, to strengthen its anti-money laundering controls. They will implement Resistant AI’s Transaction Forensics solution to detect and prevent suspicious transactions related to money laundering or sanctions evasion.
Facts
- Bank of Valletta has partnered with Resistant AI to enhance its anti-money laundering (AML) controls.
- The bank will adopt Resistant AI’s Transaction Forensics solution for real-time monitoring of transactions.
- Resistant AI’s technology can process large amounts of real-time data in seconds to identify patterns and anomalies indicating suspicious activity.
- Resistant AI’s technology is used by banks, insurers, and fintech companies to detect various financial crime risks, including document forgery, fraud, money laundering, and more.
- Martin Rehak, CEO and founder of Resistant AI, believes that integrating AI into existing technology stacks is an effective way to enhance capabilities without the need for a complete system overhaul.
- Resistant AI is a Prague-based fintech company founded in 2019.
- The partnership will enable Bank of Valletta to adapt quickly to changing regulations and internal risk assessments in the fight against financial crime.
