Fraud detection, fraud prevention and fraud management software​​

AIMS – AML is an Artificial Intelligence (AI) Fraud Management Platform. Reports estimate that as much as 32% of all claims submitted in South Africa annually are fraudulent and that fraud and corruption are costing the country (and other countries) billions of Rands (ZAR). AIMS – AML software identifies fraud, detects financial crime and manages fraud 

AIMS – AML is the only fraud solution today, incorporating more than 300 typologies of analytical data tools – being the packaged Intellectual Property rights of 20 years of Fraud Management research and experience. Where companies or institutions may not already have access to external data sources, our partnership with The Good People Data Company complements your internal data-sets, offering unparalleled capability to our clients. Additional data sources could include, amongst others, CIPC, Home affairs, Deeds Office and Credit Bureau.

AIMS - AML offers clients solutions to:

 Fraud Management

 Quality Assurance

 Full management dashboards and reporting

 Customer due diligence

 Enhanced due diligence

Data science and analytics

Data driven fraud detection model

  • Exposes previously undetected fraud
  • Embeds the basics of fraud detection into business
  • Improves fraud detection rates
  • Drives down false positive results
  • Decreases losses through fraud
  • Reduces time spent on screening
  • Integrates into AIMS investigation management system

Digital technology & infrastructure

Expertise in digital transformation

  • Sophisticated workflow and case management solutions – prioritises referrals & investigations 
  • Business intelligence capabilities to track/monitor the current fraud status
  • Identify and visualise hazy relationships through advanced & powerful syndication software
  • Complement internal data sources with external data for client analysis

Stakeholder expectations

Stakeholders can expect

  • CxO : Less firefighting. More time for strategy planning and less on operational challenges.
  • CFO : Reduce leakage of revenue, improving financial stability and forecast
  • Shareholders : giving value and reduced risk to shareholders
  • Clients : Managed premiums, more trust
  • Council for medical schemes : Better use of funds, less fraud, abuse and waste

Industries needing fraud detection

Financial fraud, bank fraud

 Counter Terrorism
 Anti money laundering
 Cross border transactions
 Syndication
 Due Diligence and Enhanced Due Diligence
 Fraudulent claim detection  Virtual or on-line claims monitoring & management
 Dashboards and management reporting

Insurance fraud

 Funeral policy claims
 Short and long terms claims  Cash Back Hospital Plans
 Due Diligence and Enhanced Due Diligence
 Fraudulent claim detection  Virtual or in-line claims monitoring & management
 Dashboards and management reporting

Healthcare fraud

 Covers all practitioners, doctors, pharmacies and related 3 rd parties
 The detection of fraudulent claim
 The monitoring & management of virtual or on-line claims  
 Dashboards and management reporting

Fraud detection in banks & financial Institutions

AIMS – AML  ability to understand and combat suspicious transactions Our expertise in financial crime risk and grasp of the inner workings of financial institutions and firms has lead to innovative and effective ways of ensuring compliance. Regulators across the globe are increasingly focussing on systems and processes capable of  identifying and reporting suspicious transactions. The costs of non-compliance are vast. All financial institutions – large and small are at risk – financial crime related failures are extremely costly.

Global financial institutions/banks

The challenge

  • Size and cost of resources and information technology (IT) infrastructure required for a comprehensive global compliance program continues to increase
  • The cost of compliance failure continues to escalate because of ineffective programs
  • Focus on sorting out past issues rather than delivering future state compliance

Impact on the bank

  • Impact on the banks bottom line is significant
  • Loss of customer and regulator trust can be a threat to the prudential stability of your institution – the limitations placed on or withdrawing of banking licenses

Impact on customers

  • The burden of KYC/AML and sanctions is hitting banks trade finance businesses – trade relations are being cut
  • De-risking is also leading to customers in high risk countries, industries and sectors being closed

Smaller domestic banks

The challenge

Face similar closely related challenges as global institutions – complexity, compliance and the cost factor

Impact on the bank

For smaller institutions it is more difficult to identify and realise any internal cost savings and synergies that might be available to larger banks

Impact on customers

An increased focus on financial crime crime risk from Tier 2 and Tier 3 institutions has meant some banks have had to limit their product service offerings

Emerging market banks


Correspondent banking relationships are being terminated  as major banks increase focus on the AML controls at their respondent banks 

Impact on banks in emerging markets

Respondent banks in more unstable economies, including regions in the Middle East, Africa, South America and Asia have huge issues to overcome in order to acquire or preserve correspondent banking status 

Impact on customers

Certain customers are finding it increasingly difficult to get access to their required products

Value offering in terms of fraud detection

 Intuitive end user self-service

 Connects independent data across multiple sources

 All collateral can be imported into the system

 Automatically creates relationships and visualises findings in real time link analysis charts

 Translates your project data files into a searchable private “Google-like” database

 Provide artificial intelligence (AI) or machine intelligence capabilities

 Relates every bit of data or text to a set of pre-defined investigative rules

 Application Programming Interface (API): Ingests live data in multiple formats whether PDF, Word or Text into a data agnostic platform

 Easily integrates with external data sources such as Terrorist lists – any computerised system, case management system (CMS), forensic data acquisition, social media feeds or other external data sources

 Results can be shared in any way across/among project participants to quickly highlight relationships, patterns, trends or anomalies

 Highly secured solution whether utilised via our secure Cloud based offering or through onsite dedicated server, allowing pre-defined user rights

 Setup and monitor alerts for specified key words

 Integrated security with specified user roles and responsibilities & full audit trail

Benefits to financial, insurance & healthcare clients

Our AI-driven Fraud Management platform is able to reveal previously undetected fraud, embeds fraud detection into your business and decreases fraud losses. Our intuitive, typology and function rich platform reduces time spent on screening and helps you identify and manage fraud incidents

 Eliminating human error/omissions

 Ability to discover previously unknown relationships/links

 Price – affordable costing

 Ensures no critical data is missed due to being overlooked between various systems

 Your whole data source can be searched from one location, saving time and money

 Proactive management of fraud, waste and abuse

 Complete accountability – excluding human error

 Segregation of duties

 Effective management of human resources

 Reduce False Positives

 Identify False Negatives

 Reduce time and Cost (Focus on high quality alerts)

 Higher quality compliance (Compliant with BASEL 239, King, POPI, GDPR )

Advantages of the AIMS- AML Artificial Intelligence (AI) Fraud Management Platform

  • Scalable  
    A highly scalable ‘big data’ Transactional Monitoring solution that helps to refine and standardise the entire process.
  • Light Installation  
    A light installation footprint and can sit alongside clients’ current IT with the ability to “talk” to many different disparate systems.
  • Configurable  
    Highly configurable to meet a clients’ specific needs and risks with an iterative setup to “fine tune” the results and reporting.
  • Enriched Data  
    Connects to public sourced external data to enrich the clients current dataset to provide a more complete picture and allows for more accurate identification of potentially suspicious transactions.
  • Quick Reporting  
    Quick and simple Management Reporting, easily configurable views to allow for effective oversight of financial crime risk.
  • Process Change  
    Helps to enable process change of the whole transaction monitoring process, streamlining it to save costs. 
  • Risk ranking  
    Enables real time risk ranking of all transactions and highlights potential issues requiring further investigation. 

AIMS - AML fraud software - recent case studies bank fraud detection

We believe in demonstrable value. As a team, and specifically in the domain of Fraud Management, we have:

 Save a large bank more than R 300 million by preventing illicit transactions

 Saved several insurers hundreds of millions of Rands, by detecting fraudulent transactions

 Saved a large South African medical aid over R 500 million over the past 10 years We are committed to combining and productising our learnings, skill, knowledge and intellectual property into our platform – a single platform that comprehensively detects, manages and reports on all aspects of fraud and Anti Money Laundering.