Encrypted computing will be a game-changer for Anti-Financial Crime Solutions. Learn more about it in our webinar with spotixx, and keep reading below to discover how Roseman Labs is progressing with the Central Bank of Ireland's Sandbox Programme.
Watch the webinar!
High Impact Use-Cases for Banks
As one of only seven companies selected to participate in the Central Bank of Ireland’s (CBI) Innovation Sandbox Programme, Roseman Labs has been working alongside two Irish pillar banks to demonstrate how encrypted computing can enable institutions to collaborate on anti-fraud and anti-money laundering (AML) efforts.
Together with our partner spotixx, we developed Qorum, a collaborative application built on top of the Roseman Labs platform. Qorum empowers financial institutions to jointly investigate suspicious activity while maintaining strict privacy safeguards. It was used to demonstrate two high-impact use cases in the Sandbox:
- Cross-Bank Alert Matching: Qorum allows banks to detect whether a client flagged for suspicious activity at one institution is connected to alerts at others. Institutions can visualize networks of potentially illicit activity—such as shared addresses or aliases—without exposing personally identifiable information (PII). Investigators can collaborate in real time, share insights, and even coordinate Suspicious Activity Reports (SARs) using a shared investigation ID.
- Recent Account Openings: Qorum also helps identify potential mule accounts early by checking if a new client has opened multiple accounts across institutions in a short time frame. This analysis is performed securely, ensuring full compliance with privacy regulations.
A Proven Solution
These use cases were made possible by our encrypted computing platform. The key is that data remains encrypted even during analysis, and only approved results are revealed—never raw data itself. This approach not only ensures compliance with GDPR but also builds trust among participating institutions who retain total control over their own data.
The CBI’s Sandbox initiative explores innovative approaches to combat financial crime under the new EU Anti-Money Laundering Regulation (AMLR), particularly Article 75— flagship legislation greenlighting (GDPR-compliant) information-sharing partnerships in the financial services industry. And Roseman Labs enables exactly that: secure analysis of sensitive data across institutions, without exposing underlying information.
As criminal enterprises become increasingly sophisticated and globally networked, banks must find new ways to stand up against financial crime. Roseman Labs delivers a solution that does not rely on financial institutions to work in isolation, but instead, allows them to combine forces to address financial crime head on, together.
Legal and Technical Validation
Together with the Central Bank and the two pillar banks we validated both the legal and technical feasibility of our approach. The results showed that encrypted collaboration is not only possible, but that it’s practical, scalable, and ready for real-world deployment. We’re now working with partners to move from proof-of-concept to a larger pilot and then production, with the goal of making Ireland a leader in secure financial crime collaboration under AMLR.
While we started in Ireland, we are now discussing similar initiatives in other countries, with banks, regulators and Financial Investigation Units (FIU’s). We are also expanding the scope of Qorum from AML to Fraud related use cases; enabling sharing information on known mule accounts and fraudulent activities.
We’re proud to have contributed to this pioneering initiative and look forward to continuing our mission: enabling organizations to work together securely, responsibly, and effectively to tackle society’s toughest data challenges.
Want to learn more about the results? Watch our latest webinar by clicking the link below:
Webinar
Stronger Together: Article 75 and a
new era of AML collaboration
new era of AML collaboration
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