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The Beam platform offers a set of modules that includes data ingestion, detection, social intelligence, investigation and case management, and report filing. Through ingestion, the input data is securely sent to the Beam platform for processing. In the detection phase, Beam’s unique detection technology automatically monitors transactions and detects any suspicious activity. Next, the social intelligence module verifies the authenticity of data from online sources. In the investigation phase, the platform uses a collaborative workflow to analyze suspicious activities and manage fraudulent cases. Lastly, Beam files suspicious activity reports easily from the instances in the Beam Investigator.
Beam allows its clients to automatically generate and file regulator-approved suspicious activity reports through its suspicious activity reporting module
Beam allows its clients to automatically generate and file regulator-approved suspicious activity reports through its suspicious activity reporting module. The module works seamlessly with other modules in the Beam platform and allows firms to monitor transactions flexibly. Beam’s API-based SaaS platform helps customers dramatically reduce false positives in transaction monitoring. Using state-of-the-art machine learning, Beam analyzes hundreds of factors related to millions of financial transactions to search for trends and activity that tend to be mala fide.
Having built an advanced platform for compliance monitoring, Beam has witnessed tremendous growth in 2018. The company is looking forward to expanding in all dimensions—employees, customers, and technology offerings—by the end of 2019 and make the world’s financial systems safer than ever.
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Company
Beam Solutions
Headquarters
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Management
Benjamin Duranske, Co-Founder & CEO
Description
Beam Solutions is a regulatory technology software company based in San Francisco, CA. The company's proprietary transaction monitoring technologies incorporate advanced machine learning and new data sources. Beam Solutions’ tools are designed to help banks, credit unions, and fintech customers to make their financial system safer and maximize the value and utility of critical compliance resources. The solutions they offer include transaction monitoring, identity verification, KYC/CDD, and watchlists among many others. The company's client base includes payment platforms, community banks, cryptocurrency firms, and other fintech organizations