Question: Is there a solution that enables secure information sharing among financial institutions for collaborative investigations and fraud prevention?

For secure information sharing among financial institutions for collaborative investigations and fraud prevention, Nasdaq Verafin offers a comprehensive financial crime management solution. It aggregates data from hundreds of institutions, providing enhanced security and efficiency with features like fraud detection using machine learning, anti-money laundering (AML) and counter-terrorism financing (CFT) management, and secure 314(b) information sharing for collaborative investigations. This platform helps reduce false positives, streamline investigations, and improve regulatory reporting.

Another robust solution is Flagright, an AI-native AML compliance and fraud prevention platform designed for fintechs, banks, and other financial services companies. It includes real-time transaction monitoring, AI-based risk scoring, and automated case management. Flagright uses sophisticated AI algorithms to identify potential risks and improve compliance, cutting manual task hours, false positives, and productivity.

For a cloud-based approach, IBM Security Trusteer leverages AI and machine learning to authenticate customers, detect fraud, and protect against malicious users across all channels. It offers real-time fraud detection, identity risk assessment, and device risk assessment, providing a seamless customer experience while minimizing risk.

Additionally, LexisNexis Risk Solutions offers insights to help financial institutions manage risks and improve compliance. It provides a range of services including fraud and identity management, credit risk assessment, and financial crime compliance, leveraging a vast database and advanced analytics to detect and mitigate risks and improve decision-making.