DUBLIN, June 7, 2021 / PRNewswire / – AYLIEN, a leading provider of AI-powered risk monitoring and management solutions, has been announced as the Most Disruptive Fintech and overall winner of the Deloitte Financial Services Innovation Awards 2021 for its identification and reporting solution. risk monitoring powered by AI, RADAR.
The awards, organized by Deloitte in partnership with Financial Services Ireland (FSI) and the Banking and Payments Federation Ireland (BPFI), recognize the innovation of financial services-focused companies that solve long-standing problems for the industry, address niche segments in a new way, or improve internal operations of financial service providers. The winners were announced on Thursday, June 3, and AYLIEN was chosen from over 100 entries for its innovation in risk monitoring and management, which is expected to revolutionize the way financial services organizations manage their risk.
David Dalton, Chief Financial Officer, Deloitte Ireland, mentionned: “The judges were very impressed by the impact of AYLIEN’s RADAR product on their customers, especially in terms of operational efficiency. They identified an inefficient manual process and developed a truly innovative product. Their innovation has enabled their customers to transform and operate more efficiently, i.e. highly skilled employees can focus on areas where they can deliver significantly higher value. “
AYLIEN’s risk identification and monitoring platform, RADAR, transforms the way financial services analysts identify and monitor potential known and unknown risk events globally with beta users of RADAR identifying 10 times more potential risk events coupled with increased efficiency of over 70% in their current investigation processes.
Using proprietary natural language processing (NLP) technology, RADAR aggregates and understands vast amounts of unstructured data such as news, regulatory updates, corporate records, and internal data sources providing early signals of critical risk events related to customers, supply chains, competition, and investment strategies.
RADAR applies advanced, specialized, yet configurable AI to large volumes of unstructured data to help analysts extend their oversight reach and transform inefficient manual identification and investigation workflows that are attributable to more than $ 36 billion fines and losses for financial services companies since 2008.
Commenting on the price, Parsa ghaffari, Founder and CEO, AYLIEN, said: “RADAR is a transformative tool for risk professionals to discover new risks faster and more accurately than any existing solution, and we are delighted that its potential has been recognized by the prestigious Deloitte Financial Services Innovation Awards and by top judges. RADAR is currently driven by some of the biggest names in the financial services industry, and our pilot clients are already seeing significant improvements in the efficiency of their risk monitoring processes, while saving hundreds of hours of analyst time. . “
AYLIEN is currently working with the world’s leading financial services companies such as Revolut, IHS Markit and Wells Fargo, helping them uncover signals of risk and opportunity from vast amounts of unstructured data sources and plans to launch their innovative platform for identifying and monitoring risks in the third quarter of 2021.
AYLIEN provides artificial intelligence solutions on risk and media to the world’s leading financial services companies, helping them make informed business decisions by leveraging unstructured data sources.