Effiya showcased its next generation artificial intelligence suite for combatting financial crimes

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Dubai, United Arab Emirates — Effiya by Sutra, a top-notch provider of AI-enabled solutions, showcased its next generation AI capabilities in combatting financial crimes in the recently concluded Techno Meet organized by Foreign Exchange & Remittance Group (FERG) in Shangri-La Dubai on 14th June 2023. Effiya showcased how customer risk assessment, transaction monitoring and case management can be more effective and efficient by adopting effective machine learning embedded smart solutions. The event was a platform for industry experts, professionals, and enthusiasts, where they pondered over the latest technology innovations and explore how it can be leveraged to drive innovation, better business decision-making, and improve operational efficiency and customer engagement.

Jigar Shah, Director at Effiya Technologies presented during the event on the ways compliance departments can leverage artificial intelligence to enhance their capabilities and become more efficient. He highlighted the critical role that artificial intelligence will perform in uncovering and managing the rapidly evolving financial crime footprints in the financial world.  It equips compliance department with advanced capabilities that can go beyond the traditional approaches. The experts suggest the compliance departments proactively start implementing the change rather than waiting for the regulators to push it. The endorsement of analytical and technology adoption and the belief to slowly move away from judgemental decision making to AI aided solutions must come from the leadership.

Effiya’s compliance suite comes packed with features like automated adverse media, transaction behaviour and network analysis that can be of immense help for data backed decision making. This not only saves time and costs but also enhances overall regulatory compliance – Jigar added.

Effiya’ s active involvement in the fight against financial crime has been reinforced by its participation in the FERG Techno Meet 23.

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