Refine Intelligence provides a digital customer outreach platform that enables banks to gather real-time context about customer transactions through user-friendly inquiries and AI-driven life story analytics. This approach reduces the operational costs associated with investigating false alerts in anti-money laundering and fraud detection, allowing financial institutions to focus on genuinely suspicious activities.
Funding
$20.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FCGCFounders
Product
Problem
Financial institutions face a high volume of alerts from fraud detection and anti-money laundering (AML) systems, many of which are triggered by legitimate customer activity. Investigating these alerts is labor-intensive, and traditional methods of contacting customers for clarification, such as phone calls and branch visits, are slow, inefficient, and can create friction. This results in delayed investigations, increased operational costs, and potential customer dissatisfaction.
Solution
Refine Intelligence offers a digital customer outreach platform that automates the process of gathering context about customer transactions, enabling financial institutions to quickly resolve alerts and focus on genuinely suspicious activity. The platform uses AI-driven analytics to understand the customer's "life story" and provides user-friendly digital inquiries that customers can respond to in minutes via mobile push, email, or SMS. By replacing manual outreach with an automated, consistent digital process, Refine Intelligence helps banks speed up investigations, reduce operational costs, improve customer experience, and enhance fraud detection and AML compliance. The platform integrates with existing fraud and AML monitoring systems to streamline investigations and improve the efficiency of fraud and compliance teams.
Target Audience
The primary target audience includes financial crime, fraud, and compliance teams at banks and other financial institutions responsible for investigating alerts related to check fraud, anti-money laundering (AML), and enhanced due diligence (EDD).
Features
- Automated digital outreach to customers via mobile push notifications, email, and SMS
- AI-driven "life story" analytics to identify the context behind anomalous activity
- User-friendly digital inquiries that customers can complete in under two minutes
- Real-time collection and sharing of customer responses with a clear audit trail
- Customizable workflows and inquiries tailored to specific operational needs
- Integration with existing check fraud and AML transaction monitoring systems
- High-velocity Request for Information (RFI) capabilities for rapid alert resolution
- Secure and compliant platform that avoids bias, tipping-off risks, and customer friction