Pelican AI brings 25 years of banking AI to faster, safer global payment screening

Detailed summary

Nino Di Teodoro, CEO of Pelican AI Corp., discusses how the company’s artificial intelligence helps banks screen payments for sanctions, money laundering, and fraud faster and…

Nino Di Teodoro, CEO of Pelican AI Corp. (CSE: PEL), discusses how the company’s artificial intelligence helps banks screen payments for sanctions, money laundering, and fraud faster and more safely, so fewer legitimate payments are held up for manual review. With over 25 years of experience and longstanding relationships with some of the world’s largest banks, the newly listed and already profitable company serves banks, neobanks, and fintechs in over 55 countries as financial institutions work to balance speed with safety across markets with different rules.

Unlike traditional screening systems, which generate a huge volume of alerts that often turn out to be false alarms, Pelican AI focuses on taking that friction out of bank operations. Its three product families cover AI-powered payments, financial crime compliance, and trade finance, connected by natural language processing and machine learning applied to the messages and standards banks use. According to Di Teodoro, “Pelican AI was building AI for banks well before the current wave of interest in AI.” This approach helps more payments go straight through without manual work, so banks can spend less while they manage risk and stay compliant.

With every payment requiring screening, Pelican AI’s case studies show what its technology delivers inside large banks. At a global American bank, the payments platform reached a 96.8% straight-through processing rate, handling 28% more volume with no added headcount. A British multinational bank reached 97.3% and an annual benefit of $14 million to $17 million. A Big Five bank in Canada reported a 70% efficiency gain from real-time screening across 15 geographies, while a German bank reached 80% efficiency in sanctions screening across 50 geographies.

Recent milestones include Pelican AI’s September 1 listing on the Canadian Securities Exchange, a $5 million financing ahead of the listing, and the September launch of Fraud Alerts Optimizer, now piloting with select…

As…

Opening of the article, excerpted from BNN Bloomberg. To read the rest, open the article on the publisher's site.