London tech firm announces partnership with German anti-money laundering software provider

A London tech firm has announced a partnership with a German software provider of anti-money laundering surveillance technology for banks, payment firms, and fintechs.

Weavr, founded in 2019, will work with Hawk AI, using its technology to embed financial services into their digital applications.

The partnership signals Weavr’s global growth plans as they expand from Europe to the US as well as using Hawk AI’s Customer Risk Rating to understand and dynamically score the risk of organizations using internal and external data alongside behavioural analytics.

Alex Mifsud, co-founder and CEO of Weavr, said: “In our search for an AML surveillance suite we wanted a long-term partner that we could innovate alongside, rather than a simple service provider.

“Hawk AI’s modular approach, flexibility and focus on innovation for global growth together aligns perfectly with our design for a risk management solution that responds and adapts to the rich context and data that our Embedded Finance solutions can access when integrated into digital applications of all stripes.”

Tobias Schweiger, CEO and co-founder of Hawk AI, commented: “It’s great to count a company as exciting as Weavr among our valued customers.

“Close collaboration is vital to delivering real-time, effective AML surveillance in a transparent and explainable manner. We look forward to working with Weavr to ensure their comprehensive financial services remain at the highest level of AML/CFT compliance.”

Weavr recently secured $40m in Series A funding round led by Tiger Global to focus on strategic international expansion plans starting with business development and recruitment efforts in the US market.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →