Hatstand Teams Up Sqreem To Use Machine Learning Against Financial Crimes


Global financial services consultancy firm Hatstand and Sqreem have joined hands to use machine learning and data analytics as  a means to predict, detect and safe guard against financial crimes.

Sqreem is a Singapore based Data analytics firm that helps multiple industry verticals including telecom, financial, IoT offering pattern detection and predictive analysis solutions.

The joint effort by Hatstand and Sqreem will offer solutions like next generation surveillance platform that uses machine learning and big data mining to help protect assets, client accounts and data from financial crime.

Sqreem’s technology allows firms to protect against financial crime through algorithms that can detect anomalies in patterns that can identify illicit behaviour and even predict future behaviour. Firms can then react in real or near-real time to the threat and proactively put defences in place.

The solution offers instant scaling across multiple hardware resource environments (cloud), and can connect data from any source. The solution can be used to detect a wide variety of financial crimes including: cyber fraud, money laundering, terrorist financing, rogue trading, bribery, corruption and market abuse.

“Global financial institutions face daunting and complex challenges in light of increasing fraud and regulation. They need to rely on technology to help pull together the disparate sources of data to identify aberrant behaviour,” says Ian Chapman-Banks, CEO of Sqreem.

Brad O’Brien, CEO at Hatstand comments: “Through this partnership, our capital market clients will benefit from truly innovative technology. We’re excited to pair our detailed knowledge services with Sqreem’s capability in machine learning and big data”.

Hatstand is a leading consultancy that works closely with capital markets institutions around the world on the most pressing business issues, including financial crime. Hatstand will deliver the sales, implementation and client support around Sqreem’s software, working with firms to define the datasets to include, test and integrate the system, as well as train users. It will also help customise reporting or dashboards to reflect individual organisational needs.

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