Celebrating more Milestones in MoData's AI Journey

AI has been in MoData's DNA from the very beginning. For over twenty-five years, we have pioneered the use of AI in financial services, long before it became the industry buzzword it is today.

Fittingly, we are thrilled to announce a new chapter in our AI journey with the appointment of Brendan van Staaden as MoData's Chief AI Officer!

Brendan has been instrumental in the continuous shaping MoData's AI strategy, most notably through our successful partnership with DRUID AI. Together with the DRUID team, Brendan has spearheaded the development of cutting-edge Conversational AI solutions that are redefining customer engagement and security across the financial sector.

MoData’s AI-driven journey has been marked by several key milestones from way back to current innovations:

1. Early Adoption of AI in Fraud Detection: Since as early as the 1990’s, we have been a pioneer in using neural networks for credit card fraud detection. The advanced AI-driven system was ahead of its time, offering early and accurate fraud detection that adapted to new patterns of criminal behaviour. MoData continues to deliver value through our ongoing enhancements and augmentations of these types of technology platforms.
2. AI in Cash Forecasting: We recognised early on the limitations of traditional forecasting methods and embraced AI to create smarter, more adaptive systems. Our AI-based cash forecasting engines, initially developed years ago, have been able to dynamically adjust to changing cash-use patterns, allowing financial institutions to have the optimum levels of cash available at ATM’s and branches, providing them with significant operational advantages (leveraging-artificial Intelligence).
3. BioCatch Platform: We've harnessed biometric behavioural intelligence to combat fraud and money laundering, continuously learning from user behaviour to enhance security in real time.?
4. TANGO – Using AI technology in Navigating the Future of Payments: Our modern payments platform is designed to handle high transaction volumes with ease, as demonstrated by TANGOs ability to achieve 10,000 transactions per second (TPS) in cloud environments. Moreover, TANGOs AI based advanced fraud monitoring and detection capabilities ensure secure transaction processing, which is critical in today’s rapidly evolving financial landscape.
5. MoData’s DataVisor: technology partnership enhances our AI-based solutions by providing advanced machine learning capabilities that significantly improve the detection and prevention of financial crimes, such as money laundering and fraud. The platform’s use of both supervised and unsupervised machine learning allows MoData to identify suspicious activities in real time with a high level of accuracy, while minimising false positives.
6. Broad Integration: Our collaboration across various AI toolsets, has bolstered KYC and AML procedures, providing real-time monitoring for digital document forgery during customer onboarding, further solidifying our position as leaders in AI-driven security.
7. FRAML Exchange: We pioneered the FRAML Exchange, an industry-first initiative that uses blockchain and AI to facilitate secure sharing of financial crime data among regulated institutions, addressing global challenges in financial crime.
8. Conversational AI Solutions: Thanks to Brendan’s leadership and our partnership with DRUID AI, we’ve developed tools that revolutionise customer interaction, offering 24/7 personalised support while ensuring robust security measures.

As we continue to lead the way in AI and automation, Brendan's appointment as Chief AI Officer underscores our commitment to pushing the boundaries of what's possible in the Banking and Financial Services industry.

Join us in celebrating this exciting milestone and the bright future ahead for MoData!

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