Mizuho International, the London-based investment banking and securities division of Mizuho Financial Group, is implementing advanced technology from SymphonyAI to enhance its financial crime detection capabilities.
The firm has selected SymphonyAI Sensa for its anti-money laundering (AML) measures within the European capital markets sector. Sensa leverages a combination of detailed scenario rules and cutting-edge machine learning techniques to track behavioral changes, identify risk similarities, detect anomalies, and pinpoint high-risk areas. This comprehensive approach aims to provide deeper insights for improved risk detection.
According to SymphonyAI, their existing SensaAML implementations have led to a substantial increase in the identification of risks compared to traditional methods while simultaneously reducing costly false positive alerts by over 60%.
Dinesh Joshi, Chief Compliance Officer for EMEA at Mizuho, stated, “Our next-generation AML transaction monitoring strategy sought a more sophisticated detection mechanism and advanced AI solution to uncover genuine AML risks while minimizing false positives and the time analysts spend on reviews. We required a solution that empowers analysts with intuitive interfaces, providing all necessary information to streamline investigations. SensaAML will significantly enhance our long-standing efforts in combating money laundering, equipping our financial crime team to operate more effectively.”