Quantexa Technology Helps HSBC Fight Financial Crime
Written by Quantexa
Published: 4th Aug 2018
HSBC will integrate Quantexa technology into its systems this year. The technology will allow HSBC to spot potential money laundering activity by analysing internal, publicly available, and transactional data within a customer’s wider network.
The deployment of the technology follows a pilot of the software with HSBC in 2017 and will see the global bank and data start-up work together to better detect potentially illegal activity in its broader context, helping the bank fulfil its regulatory responsibilities and provide better understanding of the overall risk.
In March 2017, Quantexa closed a $3.3 million investment, led by Albion Ventures and HSBC.
Vishal Marria, CEO of Quantexa, commented on the relationship: “We are honoured to be working with HSBC in their mission to combat money laundering. Our market-leading technologies will be supporting the bank to join the dots of all their data to give a broader understanding of their customers and transactions across the globe. Through a better understanding, HSBC will be better equipped in their fight against financial crime.”
Ray O’Brien, HSBC’s Global Risk COO and Head of Global Risk Analytics, said: “HSBC is continuously looking for ways to build on our existing capabilities to detect and prevent financial crime. Following our investment in Quantexa, we are looking forward to working closely with the company to utilise its technologies as we become more intelligence led in our approach to financial crime risk management.”
Featured in the Financial Times, click here to read.
You may be interested in…
Quantexa joins Tomorrow Street to enable organisations to change the way they make millions of operational decisions every year
Tomorrow Street join Quantexa following successful $65m Series C funding round
Quantexa Appoints Laura Hutton as New Chief Customer Officer
Quantexa has appointed Laura Hutton as new Chief Customer Officer to accelerate our commitment to putting the voice of the customer at the center of the organization.
Spotlight on: Laura Hutton
Over the last 13 years, Laura has been helping businesses solve major challenges using innovative technology. In the wake of […]
Cleaning up a dirty business: Money laundering in financial markets
In recent weeks, regulators have reprimanded leading investment banks for insufficient money laundering controls within their markets and broker-dealer business. […]
How These Fortune 500 Companies (Legally) Paid $0 In Taxes Last Year
When it comes to tax day, many big American corporations have a powerful message: We’ll pass. Of the Fortune 500 […]
An AML Wake-Up Call for Financial Markets
Historically, the broker-dealer market has received less regulatory pressure through fines, and thus less investment in areas of anti-money laundering […]
Reveal hidden risks and detect criminal activity faster. Reduce false positives to manage the cost of compliance. And improve investigations to make faster and more consistent decisions at scale.
Identify potentially fraudulent activity by looking at people or transactions in isolation. Understand the context surrounding the organizations you do business with to make fast, accurate decisions.
Understand your customers, their business structures and supply chains. Make better lending decisions, faster. And support digital risk transformation.
Know Your Customer
Reduce significant manual effort across onboarding, refreshes and remediation. Automate checks, implement continuous monitoring, and focus on contextual decision making.
Generate a complete view of the context around your customers and prospects to build better relationships, reduce attrition and find hidden opportunities.
Master Data Management
Connect all data—internal and third party—to create a joined-up, contextual view of all the relationships between your customers and every other domain.
See how we help to reduce costs and improve coverage for financial crime compliance.
See how our platform uses contextual analysis to turn data into a high value asset.
See how our platform uses financial crime technology to enhance your existing IT ecosystem.