SymphonyAI expands Microsoft collaboration, adding NetReveal Watch List Management to Microsoft Azure Marketplace

Enterprise AI leader continues to accelerate innovation and reach of transformative financial crime prevention solutions 

PALO ALTO, Calif., Feb. 28, 2023 /PRNewswire/ -- SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, announced today it is further expanding its role as a Microsoft partner, adding market-leading SymphonyAI NetReveal Watch List Management (WLM) solutions to the suite of SymphonyAI vertical offerings available via the Microsoft Azure Marketplace. Combining both sanctions name screening and transaction screening, NetReveal WLM helps financial institutions effectively comply with sanctions regulations by dynamically screening customers, employees, connected parties, entities, and transactions against rapidly changing, complex watch lists.

Driving financial crime management transformation, NetReveal Watch List Management joins SymphonyAI Sensa, also available in the Microsoft Azure Marketplace. SymphonyAI also offers financial services, manufacturing, retail, and IT service management solutions on the Azure Marketplace.

NetReveal WLM provides financial institutions with:

• Name Screening: screens customers and involved parties against multiple internal, external, domestic, and international sanctions screening lists and politically exposed persons (PEP) lists for negative news, matching persons, legal entities, countries, or PEPs and their associates
• Transaction Screening: screens transactions to entities found on any internal and external watch lists while minimizing false positive alerts

Together sanctions screening and transaction filtering offer:

• Match exclusion technology: reduces the number of false positives investigators must examine on average by 40-60% without compromising filtering accuracy
• Real-time response to regulatory changes: integrates new watch lists in as little as 15 minutes, configurable to any requirement, in real-time. Provides deployment flexibility to minimize investigator time and achieve better, faster, more confident decision-making. 
• Entity-based investigation: improves investigator efficiency on average by 20-30% via a single centralized 360-degree view of alerts relating to a customer or entity—fostering intelligence-led dispositioning decisions
• Comprehensive filtering coverage: inclusion of protocols for any message type, including SWIFT MT and MX, ACH, and FedWire. Lists are automatically imported and updated daily or even multiple times per day to ensure institutions are screening against the most up-to-date lists to reduce exposure across their organization.
• SWIFT 2022 certified application: performs real-time and batch screening against more than 350 global watch lists, consolidated list vendors, and internal lists for transaction interdiction to ensure compliance prior to inspection and disposition
• Concatenated matching: increases detection strength by alerting on sanctioned entities or persons that have intentionally included too many or removed spaces in their name to avoid detection by screening systems

"Accessing systems of record through one secure and comprehensive cloud platform enables financial institutions to overcome information silos, harmonize data management and boost operational efficiency," said Microsoft Corporate Vice President Cloud + AI Ulrich Homann. "SymphonyAI is delivering tailored solutions to banks committed to mastering financial crime prevention."

"With Microsoft Azure, SymphonyAI NetReveal is making improved risk management easier to access and deploy for regulated organizations worldwide," said Mike Foster, president and CEO of SymphonyAI NetReveal. "By making NetReveal WLM available in the Azure Marketplace rapidly after the launch of our SymphonyAI NetReveal-Sensa suite, this accelerates financial leaders' ability to tap into our material improvements in the detection and prevention of financial crime." 

"SymphonyAI has the leading industry-specific, intelligence AI applications to combat financial crime, and the impact of this vertical approach is truly profound," said Kumar Abhimanyu, SVP of strategic partnerships at SymphonyAI. "NetReveal and Sensa on Microsoft Azure are delivering value to our customers quickly and efficiently. This makes SymphonyAI the premier choice for financial institutions looking to stay ahead of the curve in contending with today's ever-evolving world of financial crimes, and to harness the power of AI to achieve real business results."

Additional vertical solutions available through the Microsoft Azure Marketplace include:

• Manufacturing operations management: SymphonyAI Industrial's Performance 360, Vision 360, APM 360, MOM 360, Proceedix, and Batch 360 solutions optimize manufacturing operations through real-time delivery of information and insights to improve manufacturing processes, asset performance, and connected worker applications.
• Retail category management and optimization: SymphonyAI Retail CPG solutions for category management and optimization ingest and analyze multiple data sources to reveal insights and recommendations that help CPG manufacturers optimize assortment, shelf planning and intelligence, and promotions.
• Enterprise and IT service management: SymphonyAI Summit IT Service Management (ITSM)  provides enterprise-grade process support and enterprise security and compliance for advanced AI-based service management for large and small organizations alike. SymphonyAI Summit is easy-to-use, manage, and implement for IT teams and end users.

The SymphonyAI solutions available through the Microsoft Azure Marketplace can be sold by the Microsoft sales team, expanding the reach of both companies' offerings. All SymphonyAI solutions available through the Microsoft Azure Marketplace run on Microsoft Azure, alleviating the added cost of storage and computational capabilities required when running AI outside a cloud ecosystem.

About SymphonyAI

SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani. Learn more at www.symphonyai.com.

Media Contact: Chris Gale, [email protected]

SOURCE SymphonyAI