Quantexa has announced that it has partnered with leading UK rail firm Govia Thameslink Railway (GTR) to help stem the rising tide of rail fraud.
The UK government is pushing forward with efforts to create a more unified rail system from 2023 onwards. GTR, a staple of the British railway industry, has taken the initiative by turning to Quantexa’s CDI technology to tackle its multi-faceted fraud problem.
Quantexa’s data and analytics software has enabled GTR, which is responsible for the Thameslink, Great Northern, Southern, and Gatwick Express airport services, to claim back revenues historically lost to two key fraud types:
- Delay Repay Fraud: A scam where fraudsters claim to be ‘delayed’ customers and make fictitious claims for compensation. Early indications suggest that Quantexa’s technology will save GTR over £600,000 per year in this area, introducing significant automation and vastly reducing costly human review time.
- Ticket Fraud: Offenders buying purposefully incorrect tickets and skipping fares is an area of concern for GTR. CDI software has enabled GTR to identify serial offenders that avoided paying fares worth thousands of pounds, resulting in significant time savings for fraud teams.
Innovation in Procurement to Manage Risk
Quantexa’s technology has also enhanced GTR’s procurement process, allowing GTR to analyze the supply chain to identify new or hidden risks. By consolidating reams of data about vendors that was previously spread disparately across internal systems, it can now use this data in a single contextual view to inform vendor management decisions, ensuring maximum ROI across the supply chain. This not only offers significant time savings for onboarding and managing vendors but helps the company continuously monitor for risks as they arise.
Ian McLaren, Chief Financial Officer, Govia Thameslink Railway, said: “Our partnership with Quantexa is breaking new ground for the industry, allowing us to make practical use of cutting-edge AI. Quantexa’s CDI platform has fundamentally changed the way we identify and stop fraud, allowing us to leverage previously hidden intelligence and insights.
“However, Quantexa’s technology has not only helped us turn the tables in the fightback against fraudsters – it has also offered us a far richer picture of risk across our vendor supply chain, supporting better operational decision making across the business. This is exactly the type of analytics technology which will help us build back better following the impact of Covid-19.”
Ivan Heard, Head of Fraud Solutions at Quantexa said: “We’re delighted to be partnering with GTR, one of the largest and most prestigious railway firms in the country. As the government looks to initiate a shake-up of the railway industry, the learnings from this initiative offer transformational opportunities to create a material impact on the future of fraud detection and prevention.”
Commenting on the announcement, Vishal Marria, CEO of Quantexa, said: “We are proud to help the railway industry and millions of passengers that use GTR’s services every day by stemming the tide of fraud, and optimizing its procurement process. Quantexa has been expanding outside of the financial services sector into sectors that can benefit from a contextual view of data and better, trusted operational decision making and this is further proof of the massive potential that CDI has to make an impact across many industries.”
You may be interested in…

Quantexa Provides ING with Solution to Strengthen and Automate Global Risk Coverage
ING is utilizing Quantexa’s Decision Intelligence Platform to continue advancing their world-class customer experiences.

Quantexa Named in the E2E Tech 100 List of UK’s Fastest Growing Tech Companies in Association with The Independent
Quantexa has been ranked 12th in the 2023 E2E Tech 100 list in association with The Independent.

Quantexa Expands Partnership with Google Cloud by Announcing Availability on Google Cloud Marketplace
Quantexa expands partnership with Google Cloud by announcing availability on Google Cloud Marketplace.

Decision Intelligence Leader & AI Innovator Quantexa Raises Valuation to $1.8 Billion With Completion of Series E Funding Round
Quantexa has closed a $129 million Series E funding round taking the company’s valuation up to $1.8 billion.

Quantexa Acquires Aylien an Award-Winning Provider of AI-Based Risk & Market Intelligence Solutions
Quantexa announces that it has acquired Aylien, a Dublin-based leader in natural language processing (NLP) and advanced AI.

Quantexa Adds Financial Services and Technology Heavyweights to its Advisory and Board of Directors
Quantexa announces the appointment of Sarah Diamond to its board of Directors, and Gay Huey Evans to its Advisory Board.
Related Solutions

Tax Authorities
Reduce the tax gap, identify fraud and non-compliance, and operate as efficiently as possible with limited resources.

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.

Customs Agencies & Border Control
Contextual Decision Intelligence enables faster decisions, increased revenue collection and enhanced compliance. The Quantexa platform enables Customs and Border agency teams to analyze data successfully, automate and accelerate decision-making, and achieve improved results.

Fraud
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.

Fraud, Waste & Abuse
Empower your team with the best tools available for today’s challenges to identify and prevent fraud, waste and abuse with contextual decision intelligence software.

Credit Risk
Understand your customers, their business structures and supply chains. Make better lending decisions, faster. And support digital risk transformation.

Customer Intelligence
Generate a complete view of the context around your customers and prospects to build better relationships, reduce attrition and find hidden opportunities.

Revolutionize Your Financial Crime and Fraud Detection

Investigations
Enhance the efficiency, effectiveness and consistency of your operational and complex investigations to empower your teams to expose and understand risk faster.

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.

Compliance
See how we help to reduce costs and improve coverage for financial crime compliance.

CDO
See how our platform uses contextual analysis to turn data into a high value asset.

CIO
See how our platform uses financial crime technology to enhance your existing IT ecosystem.

Healthcare
Reduce the tax gap, identify fraud and non-compliance, and operate as efficiently as possible with limited resources.

Contextual Monitoring
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.

Unified CRM Solution

Know Your Customer
Reduce significant manual effort across onboarding, refreshes and remediation. Automate checks, implement continuous monitoring, and focus on contextual decision making.

Growth and Retention

Contextual Engagement
Generate a complete view of the context around your customers and prospects to build better relationships, reduce attrition and find hidden opportunities.

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.

Connected Customer View
Generate a complete view of the context around your customers and prospects to build better relationships, reduce attrition and find hidden opportunities.