Discai and Harmoney join forces to fight financial crime

Two members of Fintech Belgium, Discai and Harmoney, join forces to fight financial crime

Discai and Harmoney, two leading Belgian companies specializing in fighting financial crime, have partnered up to offer an integrated anti-money laundering (AML) solution for financial institutions. Together, Discai’s cutting-edge, AI-based alert system and Harmoney’s comprehensive end-to-end case and process management platform deliver a full spectrum, customizable solution for generating and managing AML alerts.

According to the United Nations Office on Drugs & Crime (UNODC), an estimated 2 to 5% of the global GDP, totaling $800 billion to $2 trillion, is laundered annually. Shockingly, only 10% of this is detected, and merely 0.1% is recovered. The methods used by money launderers are becoming increasingly sophisticated and financial institutions need modern solutions to keep up with the ever-changing demands. Recognizing the urgency of the situation, Discai and Harmoney have teamed up to offer a comprehensive solution covering the entire AML cycle.

Enhancing efficiency and efficacy for financial institutions

This collaboration enables financial institutions to seamlessly integrate best-of-breed solutions into their existing systems and processes. Discai’s KYT AML (Know Your Transaction Anti-Money Laundering) solution utilizes cutting-edge AI models alongside an integrated rule-and-simulation engine, adeptly identifying potential money launderers through efficient and effective alert creation. Complementing this, Harmoney’s comprehensive end-to-end case and process management platform guarantees unmatched efficiency in the investigation process, leveraging AI and robotic automation to save time and avoid errors.