AfterData offers a RegTech platform that enhances market abuse and fraud detection for financial institutions. Its machine learning-driven engine and advanced scenario modeling reduce false positives and operational costs by precisely identifying suspicious activities.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face significant challenges in detecting market abuse and fraud, which can lead to substantial financial penalties and reputational damage. Existing regulatory technology (RegTech) solutions often struggle with precision, generating excessive false positives and increasing operational costs for compliance teams.
Solution
AfterData provides a RegTech platform designed to enhance market abuse and fraud detection for the banking and insurance sectors. The solution leverages proprietary technology that combines advanced scenario modeling with predictive algorithms to achieve high precision in identifying suspicious activities. This approach significantly reduces management costs by minimizing false positives and streamlining alert processing. The platform offers a comprehensive, end-to-end alert management system, powered by machine learning and micro-segmentation techniques, to provide financial institutions with robust compliance capabilities.
Target Audience
The primary target audience includes banks, insurance companies, asset management firms, and other financial institutions requiring robust solutions for regulatory compliance and financial crime prevention.
Features
- Machine learning-driven detection engine for market abuse and fraud patterns.
- Scenario modeling capabilities tailored for banking (MAR/MAD II) and insurance regulations.
- Micro-segmentation technology for granular analysis of financial data.
- End-to-end alert management system with a unified dashboard for case processing.
- Predictive algorithms for enhanced targeting of illicit activities.
- High precision detection rate, reportedly achieving 97%.
- Daily processing of 28 million analyses.
- Optimized audit trail management for regulatory compliance.