Hatstand established a strategic partnership with Sqreem to jointly provide solutions for use with financial crime. Financial firms will benefit from a next generation surveillance platform that uses statistical learning and big data mining to help protect assets, client accounts and data from financial crime.
Sqreem’s technology allows firms to protect against financial crime through algorithms that can detect anomalies in patterns that can identify illicit behaviour and even predict future behaviour. The solution offers instant scaling across multiple hardware resource environments (cloud), and can connect data from any source. The solution can be used to detect a wide variety of financial crimes including: cyber fraud, money laundering, terrorist financing, rogue trading, bribery, corruption and market abuse.
Hatstand with Synechron will deliver the sales, implementation and client support around Sqreem’s software, working with firms to define the datasets to include, test and integrate the system, as well as train users. It will also help customise reporting or dashboards to reflect individual organisational needs.
“Global financial institutions face daunting and complex challenges in light of increasing fraud and regulation. They need to rely on technology to help pull together the disparate sources of data to identify aberrant behaviour,” said Ian Chapman-Banks, CEO of Sqreem.
Brad O’Brien, CEO at Hatstand said, “Through this partnership, our capital market clients will benefit from truly innovative technology. We’re excited to pair our detailed knowledge services with Sqreem’s capability in machine learning and big data”.
