Personable Inc., a leading provider of innovative solutions designed to automate manual workflows, today announced the commercial availability of ScanWriter AI Edition. This cutting-edge tool harnesses artificial intelligence (AI) technology to transform the efficiency, accuracy, and effectiveness of financial investigations conducted by federal, state, and local government agencies, financial services organizations, as well as accounting and law enforcement.
In 2023, $3.1 trillion in illicit funds flowed through the global financial system, while fraud scams and bank fraud schemes led to half a billion dollars in losses last year. ScanWriter AI is designed to solve unprecedented challenges faced by financial investigators, including handling vast volumes of data, complex transactional systems, and the dynamic nature of financial crimes.
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ScanWriter® AI Edition delivers several new capabilities that improve investigation outcomes, reduce resource requirements, and enhance regulatory compliance:
- AI-Enabled Data Analytics Platform: Users can easily deploy a robust, tailored AI-enabled data analytics platform that incorporates advanced machine learning algorithms to analyze large volumes of structured and unstructured financial data, including transaction records, emails, documents, and social media data.
- Pattern Recognition and Anomaly Detection: Innovative algorithms spot suspicious transactions and patterns indicative of financial fraud.
- Predictive Analytics: Advanced models analyze historical data to forecast potential crimes, aiding in proactive investigation management.
- Natural Language Processing (NLP) for Document Analysis: Sophisticated NLP techniques streamline the extraction of critical information from textual data, enhancing evidence collection and analysis.
- Collaboration and Knowledge Sharing Platform: A secure, centralized platform enables real-time information exchange and facilitates enhanced collaboration among investigators.
- Ethical and Transparent AI: Patented technology ensures the AI algorithms and models used in financial investigations adhere to ethical guidelines and maintain transparency. Users can establish robust governance frameworks to address biases, maintain data privacy, and ensure compliance with legal and regulatory requirements.
“AI in financial investigations is now essential to combat increasingly sophisticated criminal tactics and uncover patterns of illicit activities, but successful deployment requires tools that are intuitive, scalable, and cost-feasible for organizations of any size – from large government agencies down to small family law offices,” said Benjamin Chou, President at Personable Inc. “Our new solution eliminates the manual, time-intensive burden placed on financial investigators while equipping users with the AI technology they need to stay one step ahead of bad actors.”
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