SingularityNET and Hedge Announce New Partnership To Focus On AML Compliance
SingularityNET, an AI and blockchain-driven company, and Hedge Technologies, an integrated RegTech solution provider, are announcing a new partnership to meet FinCrime, AML KYC & Regulatory requirements.
This partnership will oversee the development, coordination and implementation of AI-driven FinCrime solutions, while also helping the Hedge team scale their AI models.
The underlying AI solution will be developed in-house by the SingularityNET AI team and will be deployed on the SingularityNET Platform and Marketplace. The partnership will offer support to other ecosystem spin-offs including Rejuve, NuNet, SingularityDAO, and more.
“Hedge aims to lead the world in AI for FinCrime detection and prevention.
SingularityNET’s premier AI team will support strategically to enhance these top-level AI systems, uniquely poised to help small and medium size companies.
We’re excited to support SingularityNET and its spin-off projects in becoming ever more secure, compliant and streamlined in meeting AML / KYC / Regulatory needs. The partnership between SNET and Hedge will be an effective way for institutions of all sizes worldwide to combat financial crime taking place using their systems, protecting them from hidden lawsuits.”, said Nauman Abuzar, Founder at Hedge.
Nauman Abuzar, the brain behind Hedge, has been developing and refining the software as a service (SaaS) for almost a year.
A number of AI modules are currently ready to go live: AI-enabled Facial Recognition; AI-enabled Forged Document Detection; AI-Enabled Barcode and MRZ Scanning, and AI-enabled Fraud Checks & Monitoring.
The finished product will help with identity verification, error level analysis, OCR, liveness detection, blur & glare detection, behavioral biometrics verification, address verification, suspicious IP address, and AML screening. Also in the development pipeline is an AI product for transaction monitoring and on-chain analysis with a case management and reporting mechanism.
Both SingularityNET and Hedge’s premier team of compliance-tech experts have an extensive background in developing and using AI tools, and SingularityNET has been building and demonstrating its capability and expertise across Finance and DeFi vertical markets.
This collaboration brings together two domain experts to create better AML/KYC compliance, and other tools, to be used within the ever growing SingularityNET ecosystem and to external clients.
“SingularityNET is delighted to partner with Hedge to develop effective, efficient and reliable technologies for combating financial crime through the entire lifecycle of an institution’s relationship with a customer.
Hedge is underpinned by outstanding industry expertise, combined with entrepreneurial drive and product design, and fast paced development teams.
This product is poised to revolutionize digital technologies for financial crime detection and monitoring, utilizing a compelling front to back suite of AML tools combined with leading edge AI methods.
SingularityNET is proud and excited to work with Hedge to further develop these capabilities and grow a client base globally across both fiat and crypto use cases.”, said Janet Adams, Chief Operating Officer at SingularityNET.
With the completion of the Hedge suite of products, SingularityNET spin-offs Rejuve, NuNet, and other ecosystem projects will have an opportunity to utilize, whenever needed, a nimble KYC solution that is optimized for blockchain applications, optimized through premium AI systems, and created in collaboration with a partner aligned with SingularityNET’s values and overall mission.
About SingularityNET
SingularityNET is the world’s leading decentralized AI Platform and hosts a fully-fledged AI ecosystem with a rich community all working toward the global distribution of AI. It is the first and only decentralized platform allowing AIs to cooperate and coordinate at scale while enabling everyone to take advantage of a global network of AI algorithms, services, and agents. No longer must AI technology exist in silos, only capable of operating within a specific company, infrastructure, or industry.
About Hedge
Hedge is an integrated RegTech and comprehensive AML compliance suite that will assist businesses to meet all compliance requirements through a single interface. Services include: Customer On-Boarding (Know Your Customer and Know Your Business verifications, Identity and document verifications, Facial Recognition, Liveness Detection, Address Verification), Screening (Sanction, PEP, Adverse Media), AML Transaction & Activity based Monitoring, Fraud Monitoring, Risk Assessment & Scoring, and other Regulatory Reporting.
