HSBC: Insurance-focused Transaction Monitoring Solution Powered by Machine Learning and Cloud

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7 March 2021

Winner Of Celent Model Risk Manager 2021 Award for Legacy and Ecosystem Transformation


In this project HSBC set out with the view of developing an exclusively insurance-focused solution and achieved its goal. Its application of machine learning (ML) in insurance, especially its use of ML to generate transaction monitoring alerts automatically, is among the leading use cases of ML in AML. HSBC’s deployment of this solution, powered by Featurespace's ARIC platform, over Google Cloud is impressive and among the early AML cloud adoption instances among large financial institutions.

Click on the video link below to watch a conversation between Lee A. Ashmore, Global Head of AML Technology & Regional Head of Financial Crime Risk IT - Asia Pacific at HSBC, and Arin Ray, Senior Analyst with Celent's Risk practice; Celent Risk research members can download the PDF of a detailed case study.