OTTAWA, June 21st, 2023. Alessa Inc. (“Alessa”), a leading provider of Anti-Money Laundering (“AML”) and Fraud solutions, has been selected for the third annual AIFinTech100.
FinTech Global, a specialist research platform for all things FinTech, has launched the latest edition of the AiFinTech100 list. This ranking highlights the world’s more innovative companies who are developing AI and machine learning technologies to solve challenges or improve efficiency in financial services.
Since the launch of ChatGPT in November 2022, AI has been a major talking point. AI has captured the imagination of everyone, with financial institutions now exploring how they can incorporate it to transform their operations. A recent survey from The Economist found that 85% of banks have a clear strategy for adopting AI in the development of new products and services. One of the biggest draws to the technology is cost savings. A report from Insider Intelligence claimed North American banks have a combined potential cost saving of $447bn for 2023.
The huge market opportunity for AI has created a hotbed of tech providers building AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance. As a result, the selection process for this year’s AIFinTech100 list was exceptionally competitive. Finalists were chosen by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.
FinTech Global director Richard Sachar said, “Generative AI tools like ChatGPT have shown how advanced AI technology has become. Financial institutions will need to explore how they can leverage the latest AI and data analytics technology, or they risk being left behind by competition. The new AIFinTech100 list gives senior decision-makers the knowledge of the best vendors in the market and those leading the charge on innovation.”
A full list of the AIFinTech100 and detailed information about each company is available to download for free.
About Alessa
Alessa is an AML compliance, controls monitoring and fraud management solution for banking, insurance, FinTech, gaming, manufacturing, retail and more. With deployments around the world, Alessa allows organizations to quickly detect suspicious transactions, identify high-risk customers and vendors and decrease fraud risks that reduce profitability and increase costs. To learn more about how Alessa can help your organization ensure compliance with regulations, detect complex fraud schemes, and prevent waste, abuse and misuse, contact us today.
