CHICAGO--(BUSINESS WIRE)--May 9, 2018--
Navigant Consulting, Inc. (NYSE: NCI) and Ayasdi today announced they
are collaborating to deploy artificial intelligence (AI) and machine
learning to more effectively and efficiently detect financial crime
activity. The collaboration combines Navigant’s extensive subject matter
expertise in financial crime compliance and unparalleled understanding
of the financial sector’s regulatory environment with Ayasdi’s unique,
powerful, and battle-tested machine intelligence platform.
Together Navigant and Ayasdi will offer machine intelligence-based
anti-money laundering (AML), sanctions, and anti-corruption and
anti-bribery compliance program enhancements to assist clients in better
detecting and deterring financial crime.
“Our combined solution's flexibility is superior to traditional,
rules-based financial crime detection systems and it enhances our
clients' ability to adapt to the evolving threats of the modern
financial crimes landscape,” said Ellen Zimiles, head of Navigant’s
Financial Services Advisory and Compliance segment. “The components of
machine intelligence — artificial intelligence and machine learning —
are well-suited to the complex and rapidly changing nature of
sophisticated financial crime schemes. By augmenting existing monitoring
systems with these new capabilities, financial institutions can get
ahead of innovative criminals dedicated to evading financial crime
“This collaboration with Ayasdi fits into Navigant’s overall digital and
analytics strategy by leveraging our subject matter expertise with best
of breed technical capabilities to ensure we are delivering top value to
our clients,” said Lee Spirer, executive vice president and chief growth
and transformation officer.
AI and machine learning are proven to be effective and efficient tools
for fighting financial crime. The key to successfully deploying machine
intelligence is to make sure that a financial institution develops,
documents, and implements robust and comprehensive testing and quality
assurance protocols, and maintains a regular dialogue with regulators to
explain its processes.
“We are delighted to work with Navigant to serve our growing client base
in the areas of anti-money laundering, sanctions, and other areas of
financial crime,” said Gary Hagmueller, Ayasdi COO. “Navigant’s sterling
reputation is a function of their exceptional domain expertise.
Combining our powerful and proven machine intelligence technology with
Navigant’s know how represents a significant opportunity for clients and
prospects around the world to increase the efficiency and effectiveness
of their operations while retaining the transparency and explainability
that internal stakeholders and regulators require.”
Navigant has a strong reputation as a leader and innovator in AML,
sanctions, and anti-bribery and corruption compliance. Navigant’s global
investigations and compliance team consists of former financial
regulators, former law enforcement, and former federal and state
prosecutors. Navigant’s team has served, and continues to serve, as
court and government agency appointed monitors for various international
Ayasdi, a leader in machine intelligence software and a pioneer in
enterprise-class intelligent applications, has deployed against some of
the financial services industry’s most complex challenges in regulatory
risk and financial crimes. For the second year in a row, Ayasdi was
recognized by Chartis as the category leader for Artificial Intelligence
in its 2018 RiskTech100® rankings. Together, Navigant and Ayasdi will
apply intelligence to augment current AML transaction monitoring and
sanctions technologies and processes to improve performance without the
need to rip-and-replace existing software or processes.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global
professional services firm that helps clients take control of their
future. Navigant’s professionals apply deep industry knowledge,
substantive technical expertise, and an enterprising approach to help
clients build, manage, and/or protect their business interests. With a
focus on markets and clients facing transformational change and
significant regulatory or legal pressures, the firm primarily serves
clients in the healthcare, energy, and financial services industries.
Across a range of advisory, consulting, outsourcing, and
technology/analytics services, Navigant’s practitioners bring sharp
insight that pinpoints opportunities and delivers powerful results. More
information about Navigant can be found at navigant.com.
Ayasdi is on a mission to extract value from the world’s data through
the creation and deployment of enterprise-class machine intelligence.
Developed by Stanford computational mathematicians, Ayasdi’s unique
approach combines machine learning, abundant compute, and user-centric
design to create intelligent applications that fundamentally change how
organizations tackle their most complex challenges. Based in Menlo Park,
CA, Ayasdi is backed by Kleiner Perkins Caufield & Byers, IVP, Khosla
Ventures, Centerview Capital Technology, Draper Nexus, Citi Ventures, GE
Ventures, and Floodgate Capital.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180509005203/en/
Source: Navigant Consulting, Inc.
Navigant Investor Relations
Kyle Bland, 312-573-5624
Belia Ortega, 312-583-2640