Davies’ Evaluation Endorses DataVisor’s Enhanced AML/BSA Solutions, Affirming Operational Integrity and Seamless Investigation Processes for FIs

DataVisor, the world’s leading AI-powered fraud and financial crime prevention platform, announced that it partnered with Davies, a consultancy focusing on the technologies supporting compliance in financial services, for an independent evaluation of its modern AML/BSA solutions (Anti-Money Laundering/Bank Secrecy Act). Davies validated and endorsed DataVisor’s solutions, confirming reliable operational integrity and streamlined investigation processes.

DataVisor’s modern fraud and risk software-as-a-service (SaaS) platform allows FIs and other large organizations to combat against a variety of fraud and financial crimes while eliminating the inefficiencies of legacy systems. The end-to-end functionality of DataVisor’s AML solution includes customer risk rating, Customer Due Diligence (CDD)/Enhanced Due Diligence (EDD), sanction/watchlist screening, transaction monitoring, case management and automated SAR filing, ensuring a streamlined, comprehensive AML process to meet full regulatory compliance.

The detailed assessment from Davies produced a comprehensive report, reaffirming that DataVisor’s platform demonstrated reliable operational integrity, compliance readiness and functional capabilities. In particular, DataVisor’s AML/BSA solution effectively addresses a broad range of financial crime typologies that are essential for transaction monitoring and customer due diligence. The testing also validated the flexibility of the cloud-based solution and the ease with which the platform can adapt to accommodate various requirements to build a customized AML program and support different customer risk profiles. Finally, Davies confirmed that the platform’s robust data orchestration capabilities seamlessly communicate with the case management process, which can significantly boost operational efficiency while meeting compliance requirements.

“The Davies team is very pleased with the results of the evaluation and DataVisor’s overall innovation in AML,” said Kurt Drozd, Director, Consulting at Davies. “We are excited to work with DataVisor and its customers to help ensure a seamless integration of DataVisor’s technology into AML frameworks, while also adequately documenting model parameters and scenario selection to demonstrate the efficacy and efficiency of the DataVisor solution.”

“At DataVisor, we hold a steadfast commitment to continuously advancing and ensuring the quality of our product,” said Fang Yu, DataVisor co-founder and chief product officer. “By leveraging Davies’s specialized expertise and rigorous validation processes, we are able to meticulously assess and validate the effectiveness and integrity of our products. Together with Davies, we are proud to demonstrate a sound and robust AML/BSA solution with modern technology to combat financial crimes within the global financial ecosystem.”

As part of DataVisor’s commitment to the integrity of its products, in addition to evaluating its AML solution, the organization also worked with Davies to map DataVisor’s robust internal product testing protocols to existing model risk management (MRM) regulatory guidance. DataVisor’s customers are often bound by the MRM requirements within their operating jurisdictions, and mapping internal business and product testing to MRM requirements ensures that DataVisor’s AML solution satisfies the model risk governance requirements of financial institutions. DataVisor’s AML/BSA solution has been recognized in Chartis’ Financial Crime and Compliance 50 report, winning in the categories of Risk Appetite Tuning and Low-/No-Code Customization.

For more information about DataVisor’s fraud and AML solutions, visit here.