FinCrime Dynamics wins government funding to build a consortium that will fight financial crime using Trustworthy AI

Share this post

FinCrime Dynamics have been awarded UK government funding to develop a consortium for the advancement of Trustworthy AI in the fight against financial crime.

The initiative forms part of the UK National AI strategy and has been funded by Innovate UK, part of UK Research and Innovation. FinCrime Dynamics was awarded the funding based on their proposal for a consortium to develop simulations of financial crime using synthetic data, known as Financial Crime Vaccines, to help train more trustworthy AI. The trustworthiness of AI has been assessed on the principles of fairness, robustness and safety, transparency and human oversight. The use of simulations and synthetic data as part of the infrastructure to develop AI for the detection of financial crime closely aligns with these principles.

“There is a desperate need for the financial service industry to have access to the right data resources to create high-performance AI defences against financial crime. Intelligence sharing must now adapt to the requirements of AI, ” said FinCrime Dynamics CEO Stephen Quick. “It is a collective struggle and promoting more collaboration is key to winning this battle. This funding will enable us to accelerate the development of simulation and synthetic data technology to build AI in a more trustworthy and effective way for society.”

The project began on 1st May 2023 and will initially focus on the feasibility of delivery and the formation of a consortium. The second phase of the grant provides further funding of up to £1.2m for the consortium to deliver the proposed solution. The consortium aims to bring together a diverse group of stakeholders from academia to financial institutions such as banks.

“We are very proud of the team’s hard work and dedication in securing this grant which will be project managed by our CTO Dr Edgar Lopez-Rojas, while our CPO Daniel Turner-Szymkiewicz and Product Manager Zonathan Hass will support in driving this initiative forward,” said Stephen Quick. “We look forward to working with Innovate UK and other partners to ensure that society is able to benefit from the true potential of AI as a preventative tool against financial crime.”

The Innovate UK grant is a testament to FinCrime Dynamics’s dedication to innovation and commitment to making the financial system safer. FinCrime Dynamics software product, Synthetizor®, empowers financial institutions to access financial crime simulations and generate custom synthetic data. The grant promises to significantly raise the profile of alternative financial crime intelligence sharing approaches aimed at AI and the benefits of using synthetic data to train AI.

Potential consortium members are encouraged to register their interest and complete a short research survey on or contact

About FinCrime Dynamics Ltd

FinCrime Dynamics Ltd is building the infrastructure to power AI in the fight against financial crime. Headquartered in Cambridge (UK), the company enables financial institutions to obtain the valuable resources increasingly demanded to create high-performance anti-financial crime AI solutions. FinCrime Dynamics software product, Synthetizor®, empowers users to access financial crime simulations and generate custom synthetic data.

About Innovate UK

Innovate UK, part of UK Research and Innovation, creates a better future by inspiring, involving and investing in businesses developing life-changing innovations. We provide targeted sectors with expertise, facilities and funding to test, demonstrate and evolve their ideas, driving UK productivity and economic growth. Join our network and communities of innovators to realise the potential of your ideas and accelerate business growth. Innovate UK: inspiring business innovation.f

Article by FinCrime Dynamics

More To Explore


Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.


Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?