TQ members win FinTech Germany Award 2020 in categories AI, Blockchain and Early-Stage

Read an exclusive interview with AI winner Tobias Schweiger, co-founder of HAWK:AI 

FinTech Germany Award 2020

On September 17, 2020, the 6th edition of the FinTech Germany Award was presented at the Tatcraft New Hardware Studios in Frankfurt. The award, initiated by the financial center Frankfurt represented by the FTGA (Frankfurt Main Finance, TechFluence and the WM Gruppe/Börsen-Zeitung), honors outstanding FinTech companies in various categories, from Seed-Stage until Growth-Stage and beyond to Foreign New Entrant to Germany, InsurTech, Blockchain and finally Artificial Intelligence. 

Over 200 companies have applied or have been nominated by the jury. After the first selection process, 43 companies have been chosen and invited to the final award ceremony.

Dr. Sebastian Schäfer, managing director at TechQuartier said, “We are proud to see many of our FinTech members being awarded at Germany’s most prestigious competition.“ 

In total eight startups from the TQ community have been selected into the shortlist and we are proud to announce that three members won a prize:   

1. Place “Artificial Intelligence”: HAWK:AI

1. Place “Blockchain”: Cashlink

1. Place “Early Stage”: Myos

3. Place “Early Stage”: Arabesque S-Ray

“Winning the Fintech Germany Award means a lot to the entire HAWK:AI team. We are delighted to receive recognition of our work. It is also be great to see that the jury is recognizing the fight against financial crime as an important field for innovation, not just for financial institutions but for society as a whole.” – Tobias Schweiger, co-founder of HAWK:AI.

Read on to get to know the company better, their challenges and successes.

TQ: What is the story of HAWK:AI? When, why and from whom was it founded?  

Hawk:Ai: Tobias Schweiger and Wolfgang Berner founded HAWK:AI in 2018. With previous experience in payments, fraud prevention and FinTech, the team wanted to apply its knowledge in the field of Anti-Money-Laundering. 

HAWK:AI is a global software platform to monitor financial transactions in real-time, delivering effective Anti-Money-Laundering (AML) compliance to financial institutions. To identify suspicious behavior, HAWK:AI utilizes a combination of traditional rules as well as Machine Learning/Artificial Intelligence, to deliver an efficient and fully explained process.

Algorithms can digest transactional data from multiple financial institutions, to identify and alert to fraudulent behavior more precisely and earlier than otherwise possible. We enable financial institutions to beat the network of well-organized and connected criminals, by building a monitoring network of our own.

TQ: What are HAWK:AI’s current challenges? 

Hawk:AI: With an increasing number of international customers, we enjoy the daily challenge of scaling our business. However, the continuation of this growth and successfully establishing the solution also with large, multi-national banks is the challenge we are facing in 2020.  

Often purchasing processes result in long sales cycles which are not for everyone (but for us!). However, our reputation, established references, partnerships and industry consortia we are part of, all help us to climb up this ladder. We will keep climbing! 

 

Team - HAWK:AI
Team - HAWK:AI

TQ: What was HAWK:AI’s biggest success? 

Hawk:AI: To go live with our platform in 2019, and to continuously deliver confirmed value to our customers since then. After many months of developing our platform infrastructure, refining user interfaces and testing algorithms, experiencing the moment customers start using what you have built is priceless.

 

TQ: What are the company’s future goals?

Hawk:AI: We are aiming to continuously improve our platform, to increase the value customers derive from using it. Especially the extended use of algorithms to identify fraudulent behavior from transactional data across multiple banks will continue to be the firm’s sweet spot, and hence focus. Developments in multiple financial markets to support the exchange of information and to jointly monitor transactions are pointing to the only approach which really will improve the way we fight financial crime. We want to continue to be at the heart of these developments.

 

TQ: Where do you see HAWK:AI in 5 years and 10 years?

Hawk:AI: We do not believe it is a matter of reaching specific goals in 5 or 10 years. Rather, we believe we have started something that will make a difference to many financial institutions. Within years we assume to be the established platform player delivering process efficiency, AML compliance improvements and crime detection capabilities – all supercharged through insight generation overarching multiple institutions.  

 

Thank you for the great interview. We wish you and all of TQ members the best of luck for the future!