Hummingbird

What is Hummingbird?

Hummingbird is a sophisticated Anti-Money Laundering (AML) and compliance orchestration platform designed to enhance the capabilities of risk and compliance teams. It leverages the power of Artificial Intelligence (AI) and automation to streamline operations, improve decision-making, and significantly scale a team's capacity. The platform functions as a centralized, one-stop solution for comprehensive investigation work, integrating essential tools and data into a single, cohesive system.

At its core, Hummingbird is built to manage the entire compliance lifecycle. It automates routine tasks, provides deep insights for complex cases, and ensures that all compliance activities are efficient, accurate, and audit-ready. By unifying disparate data sources and workflows, it provides investigators with a complete, 360-degree view of customer risk, enabling faster and more confident decision-making. The platform is designed by investigators, for investigators, ensuring its features are purpose-built for the unique challenges of modern compliance.

Why Choose Hummingbird?

• Accelerated Case Resolution: Dramatically increase efficiency and process cases at up to 10 times the normal speed. Customizable workflows allow investigators to focus on strategic work rather than manual, repetitive tasks.
• Powerful Process Automation: Utilize a no-code automation engine to set precise triggers, conditions, and actions. This allows for the "set it and forget it" automation of even the most complex processes with 100% accuracy.
• Embedded AI Assistance: Equip every analyst with advanced AI tools. The platform's AI can independently handle complex tasks, generate critical case insights, and assist in writing case findings in seconds.
• Comprehensive Customer Profiles: Gain a complete contextual understanding with a 360-degree view of every customer. Hummingbird unifies identity data, transaction alerts, historical cases, and communications into a single, easy-to-navigate interface.
• Seamless System Integration: Instantly connect to your existing ecosystem. With over 50 applications and one-click installs, Hummingbird integrates seamlessly with core banking systems, third-party data providers, and other essential tools.

Advanced Features of Hummingbird

• AI-Powered Investigations: The platform's AI goes beyond simple automation. Purpose-built Research and Review Agents autonomously handle time-consuming tasks like triaging alerts and completing routine case reviews, while also summarizing complex information, identifying hidden risks, and drafting narratives for regulatory filings, radically extending your team's capabilities.
• No-Code Workflow Builder: Design and implement workflows that perfectly match your organization's policies and risk appetite without writing a single line of code. This empowers compliance teams to adapt quickly to new regulations and emerging threats.
• Unified Case Management: Powered by the Investigation Canvas, all data and tools required for an investigation are consolidated in one unified view. This eliminates the need to switch between multiple systems, reducing friction and minimizing the risk of errors while providing investigators with complete context.
• Patented Automated Reporting: Hummingbird features patented technology for automating the creation and filing of regulatory reports, including Suspicious Activity Reports (SARs), Suspicious Transaction Reports (STRs), and Currency Transaction Reports (CTRs). This ensures filings are fast, accurate, and always audit-ready.
• Expansive App Ecosystem: The platform's strength is enhanced by its ability to connect with hundreds of third-party tools and data sources. This "instant integration" capability ensures your team can leverage best-in-class data for screening, verification, and enhanced due diligence directly within the Hummingbird interface.

Modules of Hummingbird

• Screening: Streamline customer onboarding, ongoing monitoring, and ad-hoc investigations. This module allows you to screen customers and disposition alerts more intelligently using customizable automation and direct access to essential third-party data sources.
• Monitoring: Deploy a powerful and flexible transaction monitoring suite directly on top of your existing data warehouse. It is designed to be fast, adaptable, and tailored to your institution's unique risk profile, providing capabilities that traditional monitoring solutions lack.
• Investigations: Conduct high-quality investigations with a platform purpose-built for compliance work. It provides investigators with all the necessary data, tools, automation, and AI assistance to perform their best work efficiently and effectively.
• Reporting: This module offers automated reporting with FinCEN, FINTRAC, and all goAML countries, plus flexible workflows for every other Financial Intelligence Unit (FIU) worldwide, ensuring your SARs, STRs, and CTRs are completed quickly, accurately, and to the highest standard.

How to Use Hummingbird?

1. Connect Your Ecosystem: Begin by using the one-click integrations to connect Hummingbird to your core systems, data warehouses, and preferred third-party data providers for sanctions screening, identity verification, and more.
2. Design Automated Workflows: Use the no-code builder to map out your compliance processes. Set up triggers for alerts, define conditions for case creation, and automate actions like data enrichment or risk scoring.
3. Manage and Investigate Alerts: As alerts are generated, investigators work within the unified case management interface. They leverage the 360-degree customer view and AI-powered insights to analyze activity, document findings, and make informed decisions.
4. Collaborate and Conclude Cases: Teams can collaborate within the platform, leaving notes and escalating cases as needed. Once an investigation is complete, the outcome is recorded in an audit-ready format.
5. Automate Regulatory Filings: For reportable activity, use the automated reporting module to generate and file accurate SARs, STRs, or CTRs directly with the appropriate regulatory bodies, saving significant time and effort.

Hummingbird Pricing

Hummingbird pricing details are available on request on techjockey.com.

The pricing model is based on different parameters, including extra features, deployment type, and the total number of users. For further queries related to the product, you can contact our product team and learn more about the pricing and offers.