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LexisNexis Risk Solutions Anti-Money Laundering Solution Takes Prestigious Asia Award Second Year Running

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LexisNexis® Risk Solutions has been awarded the “Best AML Solution” in the Asian Private Banker Technology Awards for the second consecutive year. The award recognizes LexisNexis Bridger® Insight XG as the premier screening tool in the market, helping private banks and other institutions reduce complexity, increase efficiency, boost profitability and tackle financial crime.

“We are honored to receive this significant award from Asian Private Banker,” said Thomas C. Brown, senior vice president, U.S. Commercial Markets and Global Market Development, LexisNexis Risk Solutions. “It reflects the quality of Bridger Insight XG, which provides robust intelligence and a unified workflow to strengthen risk oversight through a single point of entry, while reducing consumer onboarding friction. This influences the entire consumer experience and helps boost bank profitability by helping consumers transact faster. Institutions in Asia have never been under so much pressure to comply with regulations aimed at combatting financial crime. Harnessing technology is crucial ⸺ Bridger Insight XG allows compliance personnel to review personal and business histories to gather critical Know Your Customer details via its link to profiles of over 3 million individuals and companies, covering more than 50 risk categories, such as sanctions, money laundering and politically exposed persons.”

LexisNexis Risk Solutions is tackling a chronic problem for private banks and wealth management firms ⸺ ‘false positives’ when screening for money laundering. A false positive is a result that wrongly indicates a positive result during the screening process, slowing the adoption of good clients and diverting financial crime compliance resources from managing true risk issues.

“In 2018, we began expanding the use of machine learning within Bridger Insight XG to reduce false positives. LexisNexis Risk Solutions will also be implementing new technology that allows private banks and wealth management firms to identify and address substantial hidden risk in their anti-money laundering compliance efforts, specifically around sanctions screening this year” said Doug Wolfson, director, financial crime compliance strategy at LexisNexis Risk Solutions. Digital identity risk exposes institutions to potential threat of massive fines and reputational damage, while allowing terrorist financiers, money launderers and fraudsters to move money through the global financial system with impunity. The new digital identity technology monitors the sanctions risk of digital identity transactions in real time, a significant innovation not provided by any other vendor. Private banks and wealth management firms will be able to monitor whether they face any potential sanctions risk from where their clients are located with the increased uptake of web portals and internet servicing amongst their clients.

LexisNexis Risk Solutions is uniquely able to innovate this new digital identity technology due to its 2018 acquisition of ThreatMetrix®, a global digital identity company with roots in Australia.

 

SOURCE LexisNexis Risk Solutions

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Wirex Launches Enhanced Cryptoback™

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Today, payments platform Wirex launched a supercharged update of their revolutionary Cryptoback™ rewards programme. Customers can now earn up to 1.5% back in Bitcoin on Wirex Visa card purchases.

Released in 2018, Cryptoback™ was the world’s first rewards programme that paid out 0.5% in cryptocurrency for all in-store spending with the Wirex Visa card. Thanks to the recent launch of the Wirex Token (WXT), customers can now triple the amount of BTC they earn – making investing in cryptocurrency easier than ever before.

Depending on the amount of WXT held, in-store Wirex card purchases now generate up to 1.5% in Bitcoin. There are three levels of crypto rewards available:

  • 500,000 WXT = 1.5% Cryptoback™
  • 100,000 WXT = 1.0% Cryptoback™
  • 50,000 WXT = 0.75% Cryptoback™

Wirex have calculated that the average UK consumer stands to earn more than £300 in Cryptoback™ every year, just by using their Wirex Visa card for day-to-day spending. Unlike many other cashback programmes, Wirex doesn’t impose restrictions on what customers can do with their rewards. Cryptoback™ can be redeemed instantly into their Bitcoin accounts, or quickly and easily exchanged into fiat for spending.

Enhanced Cryptoback™ is just one of the ways that holding Wirex Tokens allows customers to get even more out of their account. They can also enjoy heavily discounted fees based on the same structure, with access to premium products, merchant offers and airport lounges coming soon. As Wirex co-founder Pavel Matveev explains:

“We created the Wirex Token to be something that provides tangible value and benefits for holders beyond its market trajectory. Enhanced Cryptoback™ is the perfect example of this, as it allows customers to earn and invest in digital currency with a minimum of fuss. We’re looking forward to introducing even more benefits for WXT holders soon.”

 

SOURCE Wirex

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MIT-IBM Watson AI Lab Convenes Top Researchers for Second Annual AI Research Week

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The MIT-IBM Watson AI Lab (NYSE: IBM) is hosting its second annual AI Research WeekSeptember 16-20, in Cambridge, MA. The five-day conference will explore leading themes in today’s field of AI including neurosymbolic computing and semantic reasoning in machine learning, AI security and safety, inclusive design of AI for all communities, trustworthy and explainable AI, and industry applications of AI.

The MIT-IBM Watson AI Lab is a joint research effort to drive fundamental advances in artificial intelligence. Since its founding in 2017, the lab has become an integral component of IBM’s AI Research strategy and is spearheading 48 AI-related research projects.

WHO:
Dario Gil (Director, IBM Research), joined by top AI researchers:

  • Yoshua Bengio (A.M. Turing Award Winner and Pioneer of AI and Deep Learning)
  • Josh Tenenbaum (Professor, Dept. of Brain and Cognitive Sciences, MIT)
  • Laura Shulz (Dept. of Brain and Cognitive Sciences at MIT, Primary Investigator of the MIT Early Childhood Cognition Lab)
  • Roger Levy (Associate Professor, Dept. of Brain and Cognitive Sciences at MIT, Director of the Computational Psycholinguistics Laboratory)

Additional discussions will feature David Cox (IBM Director, MIT-IBM AI Watson Lab), Lisa Amini (Director, IBM Research Cambridge), and Antonio Torralba (MIT Director, MIT-IBM AI Watson Lab), addressing key topics including: progress of the MIT-IBM AI Watson Lab to date and future goals; transitioning AI research to industry; and self-supervised learning of AI.

The conference will also showcase research and thought leadership from scientists and students affiliated with Massachusetts Institute of Technology; the University of California, San Diego; the University of Maryland, Baltimore County; the University of Illinois, Urbana-ChampaignBoston UniversityRensselaer Polytechnic Institute; the University of Montreal; the University of Massachusetts, Amherst; and the Cambridge and Boston community.

WHAT:
AI Research Week is a technical conference featuring top AI thought leaders from around the world sharing the latest insights on the field of AI. The five-day gathering will also consist of panels, workshops, networking and mentorship all geared towards forging new ideas and discussion around advancements in AI.

WHEN & WHERE: 
September 16-20, 2019, times for events vary. AI Research Week events will be held at MIT and IBM in Cambridge, MA. While many events will occur at the MIT Samberg Conference Center, 50 Memorial Dr, Cambridge, MA 02142, it is best to check the schedule for specific event locations and times.

Conference highlights:

Monday, September 16: Kick-off the week with a poster and networking session where researchers from the MIT-IBM Watson AI Lab and IBM’s AI Horizons Network of university collaborators will showcase projects underway that are shaping the future of AI.

The afternoon will feature a round robin event designed to help match various student communities in the Boston area with a mentor, specifically those in Latinx, BlackinAI, Women in Machine Learning, and LGBTQ. This session will include 15 tables, each with a different topic, and mentors from IBM, as well as other speakers from AI Research Week, designed to connect students with a mentor.

Tuesday, September 17: Yoshua Bengio, full professor and head of the Montreal Institute for Learning Algorithms (MILA), University of Montreal, and Dario Gil, Director of IBM Research, begin the AI Horizons Colloquium with a Welcome Address, followed by a full day of talks and discussion featuring AI experts from academia and industry.

NOTE: The Colloquium (all day) will be livestreamed here.

Other Colloquium speakers include:

  • Saska Mojsilovic, head of AI Foundations, IBM Research and Co-Director of IBM Science for Social Good, will discuss how people can begin to trust AI.
  • Collin Stult, Professor of Electrical Engineering and Computer Science Institute for Medical Engineering and Science and MIT faculty at Harvard-MIT Division of Health Sciences and Technology Cardiologist, will discuss whether useful machine learning will be used clinically in the near future.

Wednesday, September 18: The NASA ISS Program Science Office and the ISS U.S. National Laboratory, along with IBM Research, will launch a unique opportunity to learn about the International Space Station. Guests will be able to speak with representatives and researchers about the future of AI intersecting with the future of research in space. The event also includes a competition and special session where researchers and students can pitch “ISS meets AI” project ideas to a panel of space experts from NASA, the ISS, IBM, and MIT.

 

SOURCE IBM

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AI Operations Leader, ThroughPut.AI, chosen to present at the esteemed Plug and Play Japan Summit for IOT and Mobility in Tokyo on September 19th, 2019

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ThroughPut Inc., the Artificial Intelligence (AI) Supply Chain pioneer that enables operations to increase output, quality, throughput, profitability and safety through automated bottleneck elimination, today announced their presentation and participation of their COO and CTO at the Plug and Play Japan IoT and Mobility Summit and EXPO in Tokyo, Japan on September 19, 2019. As a Plug and Play portfolio company, ThroughPut has been one of the most active global members of the Plug and Play ecosystem, being awarded to participate in multiple cohorts and events at Plug and Play Sunnyvale, BerlinMilanFrankfurtClevelandJapan, and elsewhere, spanning diverse topics including application of AI, Data and Analytics to Industrial Manufacturing, Operations, Supply Chain, Logistics, Transportation, Mobility, Industry 4.0, Oil and Gas, Food and Agriculture, and more.

“As the leading AI platform for Operations using existing data systems, ThroughPut is honored to be an active contributor to the Plug and Play Japan Mobility Batch 3 cohort,” noted Ali Raza, CEO of ThroughPut. “Our executive team is excited to present to over 1,500 Japanese corporate executives, resellers and partnership leaders at the IoT and Mobility Summit next week in Tokyo on September 19th, as well as consequent meetings that week.”

Plug and Play runs 15 industry themes across more than 50 accelerator programs a year in cities across the world. Plug and Play’s Japanese arm has accelerated four leading-edge industry programs,  and awarded participation to 69 pioneering technology start-ups and 31 corporate leaders, including MUFG, Tokyu Land, Sompo, Nissan, Hitachi, Panasonic, Fujitsu, Fujikura, DENSO, NipponLife, Dentsu, ADK, Nittsu, Norinchukin Bank, Orix, Macnica, Sumitomo, J-Power, Suzuki, SMFG, NEC Solution Innovators, Aflac, Asahi HD, Coca Cola Japan, AISIN, Kyocera MKI, Tanabe, Toshiba Tec, JXTG Energy and Shimadzu. This year’s Summer / Fall Summit is expected to receive an even greater response from startups and corporations across JapanAsia and even further overseas.

“We are very excited to continue building upon our strong client and partner relationships in Japan“, responded Seth Page, COO of ThroughPut and eight-time entrepreneur, while adding, “Plug and Play has opened up unique opportunities for collaboration with corporate partners, clients and investors around the world, bringing together the brightest minds in the industry on a single business platform. In Japan, we are showcasing our unique capabilities to a host of reputed industrial and global corporate titans, while also acquiring valuable insights from other fellow global thought leaders through participation in the Japense Mobility program and event. We look forward to continuing business discussions with market leaders in Japan next week and especially at the IOT and Mobility Summit in Tokyo on September 19th, as well as the Smart EXPO in Nagoya on September 18th.”

Bhaskar Ballapragada, CTO of ThroughPut, commented as well, “The time is ripe for industries to leverage the value of Artificial Intelligence on top of the decades of disaggregated data they’ve been collecting in-house. ThroughPut’s ELI Kaizen-AI product gives unprecedented power to a firm’s own operations managers. AI-enabled, data-driven analysis and executable insights to eliminate bottlenecks in real-time now enable the management of seamless operations across their end-to-end supply chains. In our mission to eliminate the $10 Trillion dollars of annual global industrial waste, we are reaching out to as many industries and companies to test for themselves our ELI product and enable them to experience firsthand the power of their own data with AI, and realize the quick ROI that comes with freeing-up working capital from operations by investing in ThroughPut’s ELI.”

 

SOURCE ThroughPut Inc.

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