Fraud, AML 5 min read
Smarter financial crime detection: How Finom reduced false positives by 75% with Taktile
Key takeaways
Finom, a modern financial management platform for European businesses, needed to detect, prevent, and react to financial crime faster. By implementing Taktile, the Finom team was able to:
- Accelerate rule updates by 99% – shifting from reliance on month-long engineering cycles to refining and deploying updated rulesets in <15 minutes.
- Reduce false positives by >75% – cutting the “noise” in the system and strengthening their risk-based approach.
“We don’t have to waste resources on lower quality alerts. When I look at my dashboards back to where we were 6-12 months ago, the improvement is undeniable. Taktile has been a huge part of that.”
– Tom Bright, Transaction Risk Manager at Finom
Meet Finom: Simplifying financial management for SMEs across Europe
For small-to-medium sized companies, financial management often means juggling multiple vendors and platforms just to keep operations running. Finom exists to solve this problem – and make life easier for organizations across Europe. By consolidating business banking solutions, payments, invoicing, and expense management into a single, mobile-first solution, Finom offers a one-stop-shop for businesses to manage their entire financial ecosystem in one place.
As a trusted banking solution to over 200,000 companies, robust financial crime operations are critical to driving Finom’s growth while keeping its business and customers safe.
The opportunity: Equipping the risk team to act with full autonomy and flexibility
As Finom expanded across Europe and diversified its customer base, its compliance and fraud experts needed to move faster than ever before. But existing core logic hard-coded into the back-end prevented non-technical teams from directly updating logic or customizing rulesets.
“Before Taktile, I’d need to rely on developers to update logic. Their to-do list is a mile long. Changes could take weeks or even months,” explains Tom Bright, Transaction Risk Manager at Finom.
The opportunity lay in finding a platform that could help Finom operationalize a control framework that was both rigorous on crime and frictionless for the customer while maintaining regulatory compliance.
The innovation: An agile approach to fighting financial crime
Finom used Taktile to transition its financial crime operations from static, hard-coded rules to an agile and adaptive framework, resulting in major strategic improvements:
Full control for domain experts - Finom's fraud and compliance teams can test changes, measure impact, and deploy updates directly, without relying on engineering.
“Gaining the independence to make and deploy critical changes myself, without being tethered to developer cycles, was an immediate upgrade to our operations,” Tom shares.
Customized logic for local regulations – Finom can now easily tailor its detection logic by country, ensuring precise compliance with specific local regulations and more effectively targeting regional financial crime risks.
“Money laundering in Italy, for example, might look very different to money laundering in the Netherlands. Taktile gives us the ability to split the logic easily and check the appropriate risks for different regions,” Tom adds.
Smarter alerts powered by embedded AI – Taktile’s infrastructure allows Finom to seamlessly incorporate AI in the process and add vital content to alerts. Through Takile, Finom was able to select the best AI model for its needs, weighing cost, speed, and performance, and easily deploy the model within their process. Tom shares:
"AI is particularly helpful in adding that information you can’t get from static logic, and using it to decide whether to create an alert for humans to look at. For example, if a transaction description includes ‘tank,’ AI can easily discern if this relates to a military vehicle or someone filling up their car with gas.”
At the same time, Finom uses Taktile to maintain full audit trails and for rigorous pre‑and-post‑deployment testing, which enables proper model validation and regulatory documentation. Tom notes, “The explainability built into the platform means we can confidently defend our AI-driven decisions to examiners, which is critical for us.”
The outcome: Fewer false positives, more control, and a frictionless customer experience
Since transitioning to Taktile, Finom has transformed its financial crime operations.
By accelerating rule update deployment by ~99% and consistently refining the logic, Finom cut operational "noise” and reduced false positives by >75%. These efforts translated into a 60% reduction in overall transaction alerts and a 40% reduction in alerts per active customer – all while preserving control effectiveness.
With these improvements, the Finom team can focus on fighting genuine financial crime instead of chasing false positives.
The bigger picture: Optimizing the full customer journey on Taktile
Beyond anti-money laundering and fraud detection, Taktile has become a core piece of Finom’s end-to-end operations. Finom expanded its use cases on Taktile to include credit underwriting and onboarding to move toward managing the entire customer journey on a single platform. As Tom puts it:
“Being on a single platform allows us to consolidate all of our logic in one place, making our anti-money laundering, fraud rules, and our other use cases far more efficient and effective. I can’t imagine being able to do my job without it.”
