Spring ‘25 Product Update: Data Marketplace, Screening Apps, AI Case Insights, External Data Views, and More

Today, we’re excited to share our spring roundup of new features and enhancements, bringing compliance teams fast, easy access to more data and new insights to speed up investigations.

When it comes to compliance work, two things are essential. The first is having accurate, complete data about the people and businesses under review. The second is being able to access that data, exactly when and where it is most useful.  

Our latest releases make accomplishing both easier and more feasible. With our new data marketplace, you can instantly find, access, and buy third-party risk data from top-tier providers. We’ve eliminated all the usual headaches that get in a team’s way: disparate sources that need to be patched together, contracting, and ongoing vendor management.

We’re also introducing a number of new tools to help you get more utility from your data. These include screening apps that let you use one of five third-party providers to screen for sanctions, PEPs, adverse media, and more. Plus, AI insights to help you make sense of the data in your case and a brand-new way to bring additional first-party data directly into view in Hummingbird.

Ready to take a closer look? Let’s dive into everything that’s new in Hummingbird:

• Data marketplace
• Screening apps
• AI case insights
• External data views
• FINTRAC STR filing
• New Automations actions

Discover, access, and buy third-party data, using our new data marketplace

Nearly every compliance team we’ve worked with has shared one complaint: that it’s hard to get the data they need. Between old-school vendors with poor-quality data and lengthy procurement cycles, teams end up having to rely on incomplete and disjointed systems to make critical decisions about their customers and their financial crime investigations.

With our new data marketplace, we’re making it fast and easy to access the risk data you need. You can purchase data from third-party data providers, directly from Hummingbird. All data sources come pre-integrated, so getting started is as simple as a click. There’s no vendor lock-in; you pay for only what you use, making it painless to add or swap vendors as your needs change. Finally, you’ll benefit from having just one, instead of many, places to manage your vendors, with standardized terms and consolidated billing.

Instantly screen for global sanctions, PEPs, adverse media, and more, directly within your case

Screening is an essential part of any risk and compliance program, from onboarding new customers to investigating suspected fraud and money laundering. To help you speed up due diligence and financial crime investigations, we’re introducing a suite of third-party apps that let you screen subjects, right within your case in Hummingbird.

With our new apps, you can screen for global sanctions, PEPs, watchlists, adverse media, and more. You’re able to instantly review the results and quickly disposition any potential matches. Hummingbird automatically keeps a record of confirmed matches and provides a complete search history on the subject’s profile, streamlining the audit process.

Our new screening apps, all available in our data marketplace, include:

• Castellum.AI: Global sanctions screening, covering 200+ jurisdictions.
• Minerva: Comprehensive sanctions, PEP, and adverse media screening.
• OpenSanctions: High-quality sanctions, PEP, and criminal watchlist data.
• OpenCorporates: Legal entity data, such as filings and ownership records.
• BrokerCheck: Information on brokers and brokerage firms from FINRA.

Get up to speed faster with AI case insights

Let’s imagine you just picked up a new case in Hummingbird – what’s your first move? To get up to speed, you’re probably going to spend a fair bit of time clicking around, looking at the associated alerts, transactions, subjects, and more. Now imagine doing all that but way faster. That’s where AI case insights can help. With AI case insights, you get a quick, concise snapshot of the case and its most important details. You also get a summary of potential risk indicators, helping you identify patterns that warrant further investigation.

Bring a live view of external data into Hummingbird

Cases tend to reflect a moment in time and the specific transactions or activity that led to the case being opened. But, sometimes, when you’re working a case, it can be helpful to see beyond that initial set of data. For example, you might want to review all of the recent transactions, not just the ones that were alerted on. This can be helpful in determining whether the suspected criminal activity is ongoing or exactly when it started and stopped.  

So, how do you bring that data into your case? With external data views! It’s a new way to get a live view of external data within Hummingbird. How it works is simple: You connect your cloud data warehouse (no code required!) and write a SQL query for the additional data that you want to see. You can then view the results of those queries within the case. It’s extremely flexible; you can bring in any data on people or businesses associated with the case, helping you get the complete picture you need for your investigations.

More product enhancements to streamline compliance work

Filing STRs with FINTRAC is now easier and faster than ever

We’ve made a number of big improvements to further automate FINTRAC reporting. Now, when you file STRs, Hummingbird automatically splits up cases that have more than 500 transactions – the limit set by FINTRAC – into multiple linked reports, saving you the extra effort for large investigations. We’ve also enhanced submission tracking, so you can see the exact status of your filings. Finally, we’ve added the ability to withdraw reports, in the case that a report is filed by mistake or a correction needs to be made.

Eliminate more manual work with new Automations actions

There’s even more you can do with Hummingbird Automations, our no-code builder that lets you automate your compliance workflows. With our new actions, you can eliminate additional types of manual, repetitive tasks and automatically do things like:

• Decision a review, such as escalating a review if the total transactions exceed a certain amount or flagging a case for ongoing monitoring if a SAR is filed.
  
  
• Add or update custom fields. For example, for fraud reviews, you could create a custom field for the loss amount and automatically update it with the sum of the flagged transactions.
  
  
• Make changes in other systems. Configure and send a custom HTTP request to any API and keep your other systems, such as your customer support platform or other internal tools, up-to-date.

Learn more about Hummingbird

Hummingbird enables risk and compliance teams to accelerate their financial crime investigations. Designed to support all kinds of investigative work, from customer due diligence to AML and anti-fraud, Hummingbird delivers time-saving automation that streamlines workflows while empowering analysts to make smarter, faster decisions.

Ready to see what Hummingbird could do for your organization? Schedule your demo today! You'll learn why leading financial institutions and fintechs, including Celtic Bank, Stripe, Affirm, Etsy, and DraftKings, trust Hummingbird to make their investigations 10x more efficient and effective.

If you are a current customer, learn more by signing in to Hummingbird and visiting our help center or reaching out to our team at support@hummingbird.co.