Document Forensics

Many online document submissions occur, and due to the prevalence of financial mules, financial institutions are very particular about the types of documents being submitted. Given the volume and quick turnaround needed, it is insufficient for them to rely solely on an army of document checkers. Resistant AI Document Forensics technology handles this job for them.

They check government IDs to verify the authenticity of individuals. For B2B transactions, they require financial statements, audited financial statements, papers from the SEC, from the Internal Revenue Service, and any other documents that attest to the existence of the particular organization.

Being long in the industry, they have accumulated many use cases on document fraud. From what they told me, there are more than 40 document frauds that they have identified and trained the AI on.

In the Philippines, which is probably not updated when it comes to document fraud, knowing that there are so many gives them a sense of assurance. The banks I speak with do not have data scientists. Having all this AI trained on such a number of document frauds already puts them ahead of the fraudsters.

Most of the banks here are currently exploring either developing from the ground up or acquiring a package. Resistant AI Document, given its track record with major financial institutions here and the number of document fraud cases it has, provided them with much more compliance with the anti-money laundering requirements they are pursuing. They have strengthened fraud detection and eliminated financial mules in their database.

I believe they have improved in terms of strengthening fraud detection because of the patterns they see. There are still a lot of false positives, but it gives them much more accuracy in terms of detecting fraud. The Anti-Money Laundering Council in the Philippines requires reports on a more periodic basis, and in terms of compliance, they are now able to provide such reports on a quicker turnaround time.

There is a bit of localization that could be considered, but I could not explain it well enough because it was developed in Prague, the Czech Republic. The people at the bank were asking questions about it. From a support perspective, the different time zones require perhaps a longer response time. This is not really a system issue itself, but a unique situation that exists because we are in Asia and they are in Europe.

The Philippines is mostly English in terms of business transactions, so there is already a lot of alignment when it comes to that matter.

I have been with Resistant AI representing them for two years now.

When we conducted testing on a proof of concept, the output was excellent. The result compared side-by-side with the controlled environment was actually 100% in terms of accuracy.

The pricing was relatively expensive for the Philippine market, but given that the bank is among the top three in the Philippines, it was acceptable to them. Whether it will expand to the other banks that are smaller, I do not believe it may be that competitive.

Customer service is good. Even with the time differences, they have been responding well.

There was no other solution for them.

We looked at Asia Verify and I believe Persona, but we stuck with Resistant AI Document.

The pricing was relatively expensive for the Philippine market, but given that the bank is among the top three in the Philippines, it was acceptable to them. Whether it will expand to the other banks that are smaller, I do not believe it may be that competitive.

We looked at Asia Verify and I believe Persona, but we stuck with Resistant AI Document.

Many online document submissions occur, and due to the prevalence of financial mules, financial institutions are very particular about the types of documents being submitted. Given the volume and quick turnaround needed, it is insufficient for them to rely solely on an army of document checkers. Resistant AI Document Forensics technology handles this job for them.

They check government IDs to verify the authenticity of individuals. For B2B transactions, they require financial statements, audited financial statements, papers from the SEC, from the Internal Revenue Service, and any other documents that attest to the existence of the particular organization.

In comparison with many others, Resistant AI Document appears to be the most well-researched with the most case studies, and there seems to be applicability when it comes to the use cases that this particular bank has. I would rate this review an 8 overall.