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Deloitte Wins Global Innovation Award, Puts Fighting Financial Crime As Top Of Agenda
SINGAPORE, 23 March 2018 –Deloitte wins “Worldwide Watson Financial Services, Industry Platform Business Partner of the Year”, an IBM luminary award that recognises companies for its outstanding innovations to transform industries with artificial intelligence, block chain and the cloud.
The award received at IBM’s flagship conference “Think 2018” recognised the Deloitte Financial Crime Analytics Solution, as a game changer in protecting corporations in the fight against financial crime, which is a pervasive and trillion-dollar threat.
Ivan Zasarsky, Chief Technologist for the Deloitte Financial Crime Analytics Solution and Technologies Leader for the Asia Pacific Financial Crime Network said, “We are very appreciative of this award from IBM, a significant commendation for our financial crime capabilities that showcases our mission to leverage technology to meet compliance requirements and reduce the risks from financial crime. Together with our clients and technology partners, Deloitte is leading the industry transformation from compliance to intelligence led management of financial crime. This is a shared award and an example of how the industry can band together to drive innovation and strengthen capabilities.”
Criminals are advancing on a global scale, continuing to exploit emerging technologies and threaten the integrity of financial systems. This drives the need to push boundaries to design innovative solutions and safeguards to stay ahead of criminals and mitigate risks.
The Deloitte Financial Crime Analytics Solution as an enterprise platform uses best-in-class technology to identify attempts at fraud, money laundering and economic crime, through performing advanced analytics and analysis on structured and unstructured data, to help corporations meet regulatory compliance obligations.
Commenting on the advanced analytics systems embedded within the solution, Mr Zasarsky added, “At the top of our agenda is the use of modern technological solutions and techniques to tackle financial crime. The Deloitte Financial Crime Analytics Solution uses predictive analytics; machine learning and even biometrics to enhance our detection techniques, helping us identify anomalies, compliance gaps and fraudulent transactions with greater speed and precision.”
Deloitte’s global forensic capabilities and leadership position in analytics and expertise in regulatory compliance and financial crime management advisory is built on IBM Watson Financial Services’ platform to help join the dots to expose financial crime risks that can potentially expose organisations to significant financial, reputation and even criminal penalties.
Tim Phillipps, the Asia Pacific Leader for the Financial Crime Network added, “We have been driving towards an analytics-driven financial crime strategic approach globally for some time. Using this Solution in support of our Financial Crime Networks’ advisory and remediation activities gives us a leading market capability that benefits our clients in both efficiency and confidence – it is making a real difference.”