Bengaluru: Hinduja Global Solutions Limited (HGS), unveiled its AMLens artificial intelligence-powered solution aimed to help financial institutions support their anti-money laundering (AML) operations. The AI-powered solution integrates Machine Learning and Natural Language Processing (NLP) to reduce case analysis time by 75%, helping banks meet stringent regulatory standards by the RBI.
With AI offering an ever-evolving system, AMLens can help financial investigators stay a step ahead of increasingly sophisticated fraud. The solution addresses pervasive issues facing the industry, including manual case resolutions, regulatory alignment gaps and various other challenges.
The system automates the collection and consolidation of fragmented data from various internal and external sources into a single, updated format. Financial institutions working in the retail and consumer banking, payments and fintech, credit card and lending and wealth management verticals can integrate the system onto their digital infrastructure through an API.
“In today’s regulatory environment, time is a critical weapon against financial crime. Legacy systems are drowning analysts in false positives and fragmented data, hindering their ability to act quickly,” Eric Purdum, Head of Sales – Americas, HGS said in a press release to the NSE.
“AMLens is a game-changer because it’s built on the principles of Explainable AI and human-in-the-loop validation that can automate routine tasks such as transaction monitoring, sanctions screening, and customer due diligence (CDD). We’re giving analysts speed, clarity, and confidence by providing transparent decision-making and automated, policy-aligned narratives. This allows them to focus on high-value and high-priority investigations, making a tangible difference in the fight against money laundering.”
With the RBI and SEBI encouraging the use of ‘responsible AI’, Indian banks and financial institutional players have had to embrace AI to address the growing instances of money laundering and cyber fraud. By streamlining workflows, solutions like AMLens will become indispensable for addressing regulatory requirements for AML solutions.
