How did you select ICEO - Product House and what were the deciding factors?
Currently, there are few companies on the Polish market that have a full range of competences in the areas of KYC, machine learning and AI to ensure comprehensive creation of a product dedicated to the financial industry. ICEO has the necessary experience and portfolio, which is why we decided to entrust the creation of our product to them.
Describe the scope of work in detail, including the project steps, key deliverables, and technologies used.
Given the complexity of the system and the expected advanced functionality, it was necessary to design a flawless and efficient architecture. Only after the solid foundations of the system were created, work began on its individual modules and unique functions.
It was important to choose the right technologies for each part of the system. Here we relied on the experience and technological facilities of ICEO. The whole work required a comprehensive product approach.
Subsequent works were focused on the system enabling the matching and linking of transactions in the case of deliberate division of the transaction amount by the customer in order to avoid reporting the so-called subliminal amounts.
AI modules have been created that allow learning the customer's behaviour and transactionality, also analyzing historical data. Thanks to the AI module, the system learns how customers make transactions while maintaining security, a sense of customer anonymity, avoiding false alarms and unnecessary blocking or suspending transactions.
An algorithm for analyzing and comparing with standard customer behaviour patterns was also prepared, transaction patterns and customer behaviour scenarios are created. The system is able to detect financial frauds in real-time based on customer profiles and individual transaction history analysis.
The implementation of AI and machine learning also allowed for the creation of the system's decision-making power.
In the event of suspicious situations, the system makes a real-time decision regarding the types of activities carried out, e.g. transaction blocking, suspension of its implementation, reporting suspected money laundering or terrorist financing, request for additional explanations, documents from the client, observation and increased client analysis or other actions programmed by the institution.
How many people from the vendor's team worked with you, and what were their positions?
1x Project Manager 1x CTO/Architekt 4x Senior Backend Developers 1x Frontend Developers