Image credit: Sjoerd Slot
Leusden, Utrecht-based Sygno (formerly Fraud Dynamics), a provider of Automated Machine Learning (AutoML) transaction monitoring models, announced on Monday that it has been selected to participate in the seventh FIS Fintech Accelerator program in partnership with The Venture Center.
The 12-week 2022 program started on July 19 and will culminate with Demo Day on November 9, when fintechs will demonstrate their refined solutions to hundreds of leading financial institutions, potential investors and industry participants.
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Sygno: What you need to know
Founded by Sjoerd Slot, Sygno has built an automated model generation technology to improve the existing transaction monitoring environment of financial institutions.
The Dutch company’s automated modeling of good behavior uncovers transaction monitoring risks and reduces false positives.
By reducing the number of false positives for fraud and compliance teams, Sygno helps increase the proportion of previously undetected crime and lower the pressure on teams with scarce data scientists.
Sygno says it will bring enormous value to banks and make their compliance and KYC processes much more efficient and agile.
“Sygno being selected for the FIS Fintech Accelerator program is an honor,” says Sjoerd Slot, founder at Sygno. “Our solution supports banks and other financial institutions with automated modeling in fraud and AML, and is based on helping bankers and financial institutions innovate through the ongoing digital revolution, and we are excited about the opportunity to meet FIS’s network. ”
FIS Fintech Accelerator program
The FIS Fintech Accelerator program brings bankers, subject matter experts and financial services leaders together with pre-screened, market-validated fintech companies to advance the financial services industry.
FIS says graduates from the program have raised additional capital funding, won industry awards and formed partnerships with FIS to bring their innovations to market.
Besides Sygno, other startups have been selected for the FIS Fintech Accelerator program:
- Connect to earth – Green environmental impact bank
- Equipment – Buy now, pay later
- Neural payments – P2P (peer-to-peer) payments.
- Nickel – Credit card debt management for financial wellness
- Privacy lock – Automation of privacy
- Sardine – ACH money movement and cryptocurrency risk management
- Editable – Cloud-based compliance
- Press check – Earned wage access for employees’ financial well-being
- Themis – Solutions for regulatory compliance
“We are excited to work with Sygno, one of the fintech companies selected for the 2022 FIS Fintech Accelerator program,” said Elaine Duff, Head of FIS Impact Ventures Fintech Advocacy, FIS. “We are constantly engaging the most innovative startups and look forward to helping these solutions evolve to serve the fintech industry.”
The venture centre
The Venture Center’s accelerator programs are designed to accelerate the growth of early- to late-stage companies and help validate their solutions to real-world problems.
“We are excited to begin the seventh year of our partnership with FIS and the state of Arkansas to produce the 2022 FIS Fintech Accelerator,” said Wayne Miller, CEO of The Venture Center. “Our work with FIS is more important than ever as digital transformation continues to revolutionize everything we do. This year’s cohort demonstrates what fintech partnerships are all about, and the program is sure to be elevated as we work with the President of FIS Impact Ventures, Rob Lee, and his team, whose dedication to fintech advocacy, diversity and inclusion is perfectly aligned with our own goal about creating meaningful impact.”
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