Hummingbird Acquires Quantimon to Enhance AML Transaction Monitoring with Machine Learning and Agentic AI

Hummingbird, a platform that uses AI to help financial institutions manage financial crime risks, announced today that it has acquired Quantimon, a company that uses machine learning to detect money laundering risks. The acquisition strengthens Hummingbird's investment in transaction monitoring. It adds machine learning models that learn from the results of alerts and a technology called federated learning to the same platform that compliance teams use to review and resolve alerts.

Most systems that monitor transactions for anti-money laundering (AML) still rely on rules. Most alerts these rules create turn out not to show any real problems. Machine learning has been slow to help because its models need labeled results to learn from. At many financial institutions, these results are buried in case notes, making them too costly to turn into training data. AI is now changing this. When AI agents and compliance analysts handle alerts in Hummingbird, they record their decisions in a structured format that machine learning models can learn from. With Quantimon's technology built into the platform, these decisions feed back into the detection system and help it improve.

“AI has changed how compliance teams investigate financial crime, but the systems generating the alerts have stayed largely the same,” said Joe Robinson, co-founder and CEO of Hummingbird. “Today our customers can clear alerts faster than ever, but they shouldn't have to spend that capacity on noise. With Quantimon, every alert worked by an AI agent or analyst sharpens detection, so more of the alerts that reach our customers will be ones worth their time.”

Quantimon's machine learning models learn from how alerts are resolved, using each institution's own data in a continuous feedback loop. The company has also built a federated learning network. This network is designed to help compliance teams learn from patterns found at other institutions without sharing customer data.

“At Apple, Xoom, and PayPal, we watched our compliance teams spend their days working on seemingly endless alert backlogs. We started Quantimon to fix that at the source,” said Ben Duranske, co-founder and CEO of Quantimon. “I'm thrilled Quantimon is joining Hummingbird, where our technology can be at the center of a loop that makes both detection and investigation smarter.”

The Quantimon team is joining Hummingbird to improve its transaction monitoring solution. Customers can expect:

• Better rule-based detection: Rules will be easier to create, test, and manage, even for larger and more complex monitoring programs. A strong set of AML rules provides the foundation that helps machine learning work best.
• Machine learning models trained on each institution's alert results: The models will learn from decisions about whether to close an alert, investigate it further, or file a report. This will help teams rank alerts by risk and spot activity that looks like confirmed cases, even when no rule identifies it.
• A network that looks beyond one institution: Over time, customers will be able to use information from outside intelligence sources or patterns found across the wider Hummingbird network. This will help teams detect risks they may not have known to look for.

To learn more about how Hummingbird is adding Quantimon's technology to its platform, visit https://www.hummingbird.co/resources/hummingbird-acquires-quantimon.

About Hummingbird

Hummingbird is a leading platform that uses AI to help financial institutions manage financial crime risks. It replaces separate, disconnected tools with one workspace where AI agents and human analysts work together throughout the compliance process. Its tools cover customer screening, transaction monitoring, investigations, and regulatory reporting. These tools help financial institutions reduce risk, handle more work, and improve oversight of their compliance programs. Leading banks, financial technology companies, gaming operators, and cryptocurrency companies use Hummingbird. These customers include Raymond James, Symetra, Crypto.com, DraftKings, and Etsy. Learn more at hummingbird.co.