Resistant AI named Hottest Artificial Intelligence Startup at Europas 2022 Awards
LISBON & PRAGUE - November 7, 2022 – Resistant AI, the fraud and financial crime services provider dedicated to protecting and safeguarding automated financial services, was named the year's Hottest Artificial Intelligence Startup at The Europas 2022 Awards held in Lisbon on Tuesday. This continues a year of honors for the Czech-based startup, adding to the Digital Crime Fighter of the Year title earned for the second time at ACAMS 21st Annual AML & Anti-Financial Crime Conference in Las Vegas last month.
The Europas is the premier awards for European tech startups, celebrating innovation in the continent's booming tech scene and highlighting businesses that address pressing global issues. Companies undergo an extensive nomination and shortlisting process, and winners are selected by public vote.
Resistant AI uses a pioneering approach called Identity Forensics to insulate digital-first financial services against manipulation and attack while simultaneously strengthening and automating their AML/KYC compliance processes. When its data-driven anomaly detection technology is applied to document processing, Resistant AI checks over 500 parameters, including metadata, in PDFs, images, scans, and other digital formats to detect document forgery and serial fraud. When applied to transaction monitoring systems, Resistant AI’s AI/ML detectors streamline financial crime investigations and discover previously undetectable criminal behavior.
Customers including online mortgage brokers, payments processors, and crypto exchanges use Resistant AI to augment their existing fraud prevention and detection systems. Identity Forensics has helped to accurately automate new customer onboarding processes and has proven to be a vital tool in providing AML analysts with a risk-based approach to reducing false positives during their AML checks.
Karel Bartoš, a co-founder of Resistant AI, attended the Europas ceremony to accept the award. He says: "This award proves that people across the globe are impressed by what we're doing: we protect and we automate. This leads to double savings, reducing the money lost to successful fraud attempts while also reducing the amount of work, errors, and inefficiencies that come with manually analyzing documents and monitoring transactions. We really do have something special and extremely useful, and there will only be more hunger for this type of service as fintechs continue to pop up and traditional institutions move online."
Founded in 2009 by Mike Butcher, editor-at-large at Techcrunch, The Europas is in its thirteenth year. Past honorees have included such household names as Spotify, Wise (formerly TransferWise), Soundcloud, and Deliveroo.