CSI Launches AI-Driven TruDetect and TruProtect: Revolutionizing the Fight Against Financial Crime
CSI, a prominent provider of comprehensive financial software and technology solutions, has recently unveiled two innovative AI-driven platforms—TruDetect and TruProtect. These solutions, developed in collaboration with DATASEER, a data-centric SaaS provider, are aimed at revolutionizing anti-money laundering (AML) compliance and fraud detection for financial institutions.
Addressing the Challenges in Financial Compliance
The introduction of TruDetect and TruProtect is a direct response to the escalating pressures on financial institutions to combat increasing fraud rates while enhancing operational efficiency. According to a Celent report, over 95% of AML alerts are false positives, causing analysts to spend as much as 70 minutes per alert. This inefficiency, coupled with fraud losses exceeding $12.5 billion in 2024, underscores the urgent need for more sophisticated compliance technologies.
CSI’s Commitment to Financial Institutions
CSI is dedicated to providing technology solutions that support various banking operations, including:
- Risk management
- Compliance
- Fraud prevention
- Digital banking
Through integrated solutions and strategic partnerships, CSI aims to enhance operational workflows, allowing institutions to respond effectively to evolving industry challenges.
Features of TruDetect and TruProtect
TruDetect: Streamlining AML Investigations
The TruDetect platform focuses on diminishing false positives and expediting AML investigations. Key features include:
- AI-powered risk confidence scoring
- Auto-generated templates for SAR and CTR reports
- Centralized customer behavior dashboards
- Customizable workflows
This platform integrates seamlessly with CSI’s NuPoint core banking system, ensuring rapid implementation with minimal disruption.
TruProtect: Real-Time Fraud Prevention
On the other hand, TruProtect is designed for real-time monitoring and defense against advanced fraud attempts. Its capabilities include:
- Continuous scanning of suspicious P2P, ACH, wire, and card transactions
- Detection of malicious account takeover activities
With its AI-driven engine, TruProtect allows community banks to enhance their security without requiring extensive technical expertise or large security teams.
Strategic Collaboration with DATASEER
The development of these cutting-edge products is attributed to the strategic partnership between CSI and DATASEER, combining CSI’s banking technology with DATASEER’s real-time data analytics and risk detection expertise. Both TruDetect and TruProtect are available now, with TruProtect expected to undergo a broader rollout later this year.
Industry Leaders Weigh In
Steve Sanders, CSI’s Chief Risk and Information Security Officer, emphasized the importance of tailored solutions, stating, “Unlike one-size-fits-all systems, TruDetect is built for every institution’s unique compliance needs.”
Sharon Anderson, President and CEO of Williamstown Bank, added, “The sophistication and volume of fraud attempts have reached unprecedented levels. TruDetect’s ability to aggregate data into a single dashboard simplifies reporting and pattern recognition.”
Sanders further noted, “Financial institutions require smarter, faster fraud detection tools. TruProtect empowers community banks to stay ahead of evolving threats.”
Looking Ahead
Adwait Joshi, Founder and CEO of DATASEER, remarked on the partnership’s significance, stating, “Together, we are transforming core banking and enabling financial institutions to proactively combat crime while optimizing decision-making.”
In conclusion, with the launch of TruDetect and TruProtect, CSI and DATASEER are setting a new standard in financial technology, ensuring that institutions can effectively manage risks and maintain compliance in an increasingly complex landscape.
For more information on their innovative solutions, visit CSI’s official website.
