Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announced that it has partnered with unstructured data automation platform Instabase.
The partnership offers financial services organizations Resistant AI’s Document Forensics to authenticate digital KYC documents submitted through Instabase’s AI Hub platform which processes vast amounts of unstructured data to automate end-to-end workflows.
Combatting online criminals requires progressively more powerful technology as fraudsters apply more sophisticated techniques, and the rise of artificial intelligence has only increased the number of tools in a criminal’s arsenal.
A recent study by Resistant AI, which analyzed over 170 million documents, revealed that 13% of utility bills, 10.3% of bank statements, and 8.1% of income confirmations were manipulated.
Benefits of the partnership
This new partnership between leading AI SaaS providers, Resistant AI and Instabase, addresses the increasing demand for improved safety measures in fraud-prone document processing workflows, including identifying and preventing new money mule accounts being opened in relation to peer-to-peer (P2P) fraud, resulting in enhanced risk-management and customer experience.
“Given the ethos of innovation that both Resistant AI and Instabase have built on, our customers can now leverage an additional layer of protection by validating document authenticity, and be armed with the right integrated toolkit to stay ahead of the rapidly evolving financial crime landscape.”
“We are proud to work with Instabase to offer a solution that enables customers to automate workflows while safeguarding against fraud. Customers can feel secure knowing that they are using best-in-class technologies, from two companies that are committed to working together and integrating their product to address document fraud from end-to-end.”
About Instabase
Instabase is an AI application platform that empowers anyone to transform complex, unstructured data into actionable insights using cutting-edge generative AI. Harness the power of any data that flows through your organization in any format, layout or language, including documents, PDFs, images, emails, spreadsheets, slides–even handwriting.
Instabase streamlines manual processing, facilitates quicker, more informed decision making, and cultivates an ecosystem for developers to build and innovate the next generation of intelligent applications. Today, many of the world’s largest financial institutions, insurance companies, governments, and enterprises rely on Instabase to automate their mission-critical business processes end-to-end.
The business is backed by leading investors, such as Greylock Partners, NEA, Andreessen Horowitz, Index Ventures, Spark Capital, Tribe Capital, K5, Original Capital, SC Ventures, and Glynn Capital.
Find out more about Instabase.