Coworkers vs. Crisis #9 – Marek Modry from Merlon Intelligence
Next part of HubHub's Coworkers vs. Crisis series will show you, how AI can fight against financial crime. Our member Merlon Intelligence is one of the world's leaders in this area. And believe us, it is a hot topic in the times of coronavirus!
Marek Modry works as the Head of Software Engineering at Merlon Intelligence. He is also a member of Prague’s coworking space HubHub Palác ARA. Merlon provides Anti-Money Laundering (AML) and Know Your Customer (KYC) researchers and analysts a tool to conduct enhanced customer due diligence through global adverse media. Merlon’s goal is to make the world a safer place by leveraging the power of AI. Merlon’s team is distributed between the US and Central Europe.
How has the current situation affected your business?
We were already used to working from home before. Our teams are spread across continents, which means that it is common for us to work with people from different locations. At the same time, employees had more time, as they did not have to travel and could devote themselves to their work. We have a significant advantage in that we provide services for regulated entities, therefore banks do not care, if we are locked up at home or sitting in our offices.
Has the crisis affected your company in terms of cash flow, e.g.?
Our business is built on something, that is more stable, so our cash flow was not affected by the crisis. However, what we were able to do, was to add Covid related fraud detection to the system, as people quickly began to abuse various financial subsidies and government assistance. We realized, that there is a room for improvement here as well.
Is there something you see in the current crisis as a great opportunity to move forward?
The coronavirus crisis influenced us more on the human level than on the business level. We realized, that it didn’t matter if we were sitting in the same office, or at home. Relationships in the company became more balanced. We all suddenly had the same problems. Whether we had a weak internet connection or a child was crying behind us. As far as business is concerned, we have found out, that it is a good time to show clients, that innovative ways have their meaning and justification. There are the fields in which media screening is not used, e.g. law. Our services could also be used in these areas in the future.
Is there anything the coworking community can help you with?
We appreciate any ideas from others. We want to expand to other areas so that we can make our product available to anyone.
How can you help other coworkers in HubHub?
We are a team of people with various hobbies, which we are very happy to talk about. We also like to talk about AI. Many people don’t know what AI actually is, but they might want to know and don´t know who to ask. Anyone who wants to talk to us and get advice on how AI could help their business can stop by anytime at HubHub Palác ARA in Prague.