Bank of Valletta taps Resistant AI for fraud prevention solution
Malta’s largest bank, Bank of Valletta, has partnered up with Resistant AI, a financial crime prevention fintech, to help strengthen its anti-money laundering (AML) controls.
Bank of Valletta partners with Resistant AI
The bank will adopt Resistant AI’s Transaction Forensics solution to help it detect and prevent transactions suspected of being involved in money laundering or sanctions evasion.
Resistant AI’s tech can monitor transactions in real time, which will enable the bank to remain agile and quickly adapt to changing regulations and internal risk assessments.
The company says its technology can receive “huge amounts of real-time data” and process it in seconds to reveal patterns and anomalies suggesting suspicious activity.
Martin Rehak, CEO and founder of Resistant AI, says enhancing existing tech stacks with AI is the “ideal response to the rapidly shifting regulatory landscape around money laundering, offering a convenient way to improve a company’s capabilities without overhauling their whole system”.
Founded in 2019 and based in Prague, Resistant AI’s tech is used by banks, insurers and fintech companies to detect document forgery, serial fraud, synthetic identities, account takeovers, money laundering, and other financial crime risks.
