DigsFact Inc
The proprietary AI based product - The PreCogs - prevents financial crime BEFORE they occur, by preemptively stopping transactions from being completed, with 99.7% accuracy!
Company Info
Founder(s) | CivStart Cohort | Issue Area(s) | Website | LinkedIn |
|---|---|---|---|---|
Nishant Tomar | 2024 Cohort | Revenue & Finances, Justice & Public Safety, Data-Analysis | DigsFact Inc |
Our Proprietary AI based product - The PreCogs - prevents financial crime like money laundering and fraud, BEFORE they occur, by preemptively stopping such transactions from being completed, with 99.7% accuracy! The details and explanations are handed over to the financial institution’s investigation team for further actions.
This is driven by our 2 AI models, - one for money laundering and one for fraud. At the beginning of any transaction (ACH, Wire, Credit card, debit card, real-time payment or RTP, etc.) the transactional data (no PII) is shared with both of our AI models. If everything appears fine, then the transaction continues to execute as usual.
However, if one or both of the AI models detect a potential financial crime in any transaction (supports any currency, domestic or cross-border, with an extremely high accuracy of 99.7% and a near perfect F1-Score), then the transaction is paused and the details of the transaction along with the explanation for flagging the transaction is handed over to the designated investigating team of the financial institution.