Salv develops an AML platform that uses smart technology to reduce non-compliance and financial crime. Salv allows financial institutions to collaborate on investigations by opening a direct line of communication, allowing them to exchange and enrich data on potential threats. Salv covers screening, monitoring, and risk assessment to detect criminal behavior, streamline internal processes, and leave clear audit trails for regulators.

Salv

Salv is the world’s first real-time collaborative financial crime-fighting network.

We enable tactical information sharing for organisations across sectors and national borders, and give compliance teams the tools to fight crime more effectively.

The legal constraints that surrounded information sharing are giving way to regulatory clarity and certainty for all industry participants. As noted by the FATF, constructive and timely exchange of information is necessary for effective detection and prevention of ML/TF threats.

Real-time collaboration and information sharing is here to stay and bound to become a powerful tool in the near future.

Banking and financial services companies (LHV, Swedbank, and more) use Salv to navigate the regulatory complexities, reduce the risk of non-compliance, and improve operational performance.

Superangel

Toivo Annus

Seedcamp

Passion Capital

Producement

Fly Ventures

Specialist VC

Maximilian Tayenthal

Ott Kaukver

Taavi Kotka

Giesecke+Devrient Ventures

ff Venture Capital

United Angels

Andrew Prozes

APP fraud in UK, here we come 🏃🏃♀️

Thank you, Tech Funding News ! Great overview of our latest fundraising round.

🚀 Salv is taking the next big step in the UK – and we have raised €3.9m in new funding to do so. Read about our plans👇

This investment brings the capital raised in 2023 to €7.9m and total funding to €12.1m with the goal of fuelling Salv’s expansion in the UK. 

Currently, the UK market is experiencing a sharp increase in Authorised Push Payment (APP) fraud. 

APP fraud, orchestrated by criminals through social engineering tactics like impersonation, tricks consumers or businesses into transferring money to their accounts.

In 2022, the UK lost over £1.2 billion to fraud, with APP fraud accounting for 40% of those losses. 

According to data from UK Finance – despite a marginal 1% drop in losses to APP fraud in the first half of 2023 – the volume of cases surged by 22% this year. 

Salv Bridge, our collaborative investigations platform, has proven effective in preventing fraud, achieving up to 80% recovery in APP fraud cases.

Upwards, onwards, and let’s beat financial crime in the UK! 🦸

Real crime-fighters in the house! 🦸 During Salv’s team day, we invited our partners who use Salv daily to share their experiences with Salv team.

🦸 First of all, biggest thanks to panel participants: Aleksander Stepanov from TBB, Indra-Stiina Pitk from Montonio, Raido Pruul from LHV, Siiri Grabbi from Coop Pank AS and Silja Varek from SEB Eesti.

Keeping in touch with our customers is essential to developing a product which helps AML and fraud teams to 
- make more informed decisions
- catch real criminals
- avoid fines. 

Because the decisions they make have a direct impact on thousands and thousands of people who have trusted their finances to their bank. As one panelists put it – AML never stops. 

It was a wonderful evening full of nail-biting stories about stopping crime with the help of Salv and getting on-point product feedback.

Salv thanks you all!

Just as three lines form the core of Salv's visual identity, our products are built around three lines of defence at their heart.

In our latest blog, we explore how these three lines of defence come together to foster a robust culture of risk management and compliance – in banking and beyond.

Read our new blog – link in the comments below.

#threelinesofdefence #3lod #banking

Financial Action Task Force (FATF) has recognised Salv as one of the top 8 collaborative initiatives globally in its report on private sector information sharing.

While Salv goes beyond the industry-defined category with its new approach to collaborative investigations and the recovery of funds, it's an honour to be acknowledged alongside GSS - Global Screening Services, Kodex, Transactie Monitoring Nederland (TMNL), and others. 👏

In our new blog, we take a closer look at information sharing tools available for financial institutions and the level of collaboration they provide. 

⬇️ Click on the link in the comments below.

#collaboration #informationsharing

Legendary Estonian investment advisor Rahakratt, also known as Man in Pigeon Hat, came to share his knowledge with Salv's team today. Luna, our office dog, was a little bit upset a bird has more money than her.

🚀 Exciting news 🚀

Salv has achieved ISO/IEC 27001 certification, reinforcing our long-standing commitment to security. Moving forward, we will continue to improve our handling of customer data, making sure it adheres to the highest international standards.

Great things are underway. Click on the link in the comments to learn more.

#iso27001 #isms #informationsecurity

🇬🇧 How to recover 80% of the funds lost to Authorised Push Payment fraud, instead of the industry's 4-5% benchmark? Come chat with us at Financial Crime 360 and find out. 

Taavi Tamkivi, Anthony Jarman & Ester Eggert are here to tackle all your questions and share the success stories of our customers using Salv to recover their clients’ money.

Big thanks to our great partners at The Payments Association for organising!

🚨 Breaking down APP fraud in a new blog post 🚨

In 2022, authorised push payment (APP) fraud shook the UK's financial landscape, with losses totalling nearly £500 million.

In a significant move, the Payment Systems Regulator (PSR) outlined mandatory reimbursement guidelines for APP fraud. Starting from 2024, the responsibility to compensate victims will be equally divided between both sending and receiving financial institutions.

We prepared a 'toolkit' for combating APP fraud in 2024. 🔍

Read on and share your thoughts below:

#appfraud #psr #fraudawareness #fraudawarenessweek

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