A Tewkesbury-based cyber security company has teamed up with experts at the University of the West of England to collaborate on a two-year project, co-funded by Innovate UK, to enhance their software platform, Scout™ in the fight against online financial crime.
Synalogik, is pioneering the automation of intelligence & fraud monitoring.
UWE Bristol’s Professor Nicholas Ryder, an expert in financial crime, Dr Phil Legg, a specialist in cybersecurity, Henry Hillman (cryptocurrency) are working with the team at Synalogik to identify and catalogue suspicious online money transfer activities, automating these processes in real-time, saving vast amounts of time on analysis and removing human error, to spot cyber criminals faster.
Daniel White, Co-Founder and Legal Director of Synalogik, said: “Working with UWE Bristol’s experts will help us to create even better technologies to identify and fight financial crime.
“Teaming up with the foremost minds in the industry will ensure that our Scout™ platform is at the zenith of financial crime analysis, safeguarding both UK and international businesses against the effects of criminal activity.”
UWE Bristol’s Professor Ryder said: “This is an exciting project to be involved in and is ground-breaking when it comes to tackling activist financing, as it will massively speed things up and will save valuable time in tracking down criminals or activists. It has never been done before in this way and the quicker the intelligence comes through, the better.”
Synalogik, founded in 2018, aims to revolutionise the way criminality is identified, investigated and detected, providing a financial and strategic advantage to a global client base. The team at Synalogik are currently providing SaaS platforms and consultancy services to companies in law enforcement, banking, gambling, insurance and the military.