Standard Chartered and Quantexa Join Forces to Tackle Financial Crime With Contextual Decision Intelligence
Written by Quantexa
Published: 13th Nov 2019
Standard Chartered has partnered with Quantexa, the contextual decision intelligence software company, to amplify its anti-financial crime efforts globally.
Working as part of a wider ecosystem, Quantexa will support Standard Chartered’s Financial Crime team through the use of dynamic entity resolution, network analytics, and contextual data to tackle major real-world challenges, including money laundering, fraud, and terrorist financing. Quantexa’s decision intelligence platform utilizes AI to provide Standard Chartered with a connected 360-degree customer view, empowering the bank’s investigators to make faster, more accurate decisions.
Developed in partnership, the platform enables Standard Chartered to conduct complex financial thematic investigations more efficiently and effectively, demonstrating the bank’s ongoing commitment to uphold the highest global standards in compliance and risk management. The enhanced capabilities provided by Quantexa allows the bank to see a holistic view of investigations, providing a deeper understanding of the trends and risks across billions of data points from more than 40 countries.
By automating labor-intensive, manual intelligence gathering, the bank’s investigators now have more time to focus on finding true risk, as well as have improved consistency in their investigations. The platform will become a key support tool for Standard Chartered and presents rich detail about customers and transactions in one place, visualizing the relevant relationships and behaviors to provide context for faster decisions. It also allows Standard Chartered to leverage its existing investments in monitoring and case management for more efficient and effective financial crime compliance.
Praveen Jain, Head FCC Controls Strategy and Innovation at Standard Chartered, says: “Quantexa’s solution consolidates information from multiple sources, leverages advanced analytics, visualization, and contextual output. This not only simplifies tasks for the analyst but also helps them understand the flow of funds, see the relationships between entities, and identify otherwise hidden linkages that may have been difficult to establish previously”.
Vishal Marria, CEO and Founder at Quantexa, says: “Working with Standard Chartered to support this initiative is a true testament to their desire to tackle and disrupt financial crime globally. Standard Chartered and Quantexa are at the forefront of using Contextual Decision Intelligence and I am very much looking forward to growing this partnership with the bank across the enterprise”.
You may be interested in…
Danske Bank Deploys Quantexa’s AI Platform For Financial Crime Detection
Danske Bank uses Quantexa’s platform to uncover the real-world context in data to detect financial crime and improve investigations.
Quantexa Joins Award-Winning Innovation Center Tomorrow Street
Quantexa’s technology provides powerful insights to businesses by identifying relationships between entities and hidden links within Tomorrow Street’s data sets.
Quantexa Adds Industry Leaders To Advisory Board To Support Global Growth
Former JP Morgan Chase CIO and ex-chairman of KPMG join Quantexa’s advisory board 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.
Quantexa Raises $64.7m in New Series C Funding to Drive Hyper-Growth in Big Data and Analytics Ecosystem
Additional investments will expand quantexa’s global and industry footprint and its contextual decision intelligence platform as category-leading technology
Quantexa Brings Contextual Decision Intelligence to OFX to Fight Against Financial Crime
Leading foreign exchange and global payments provider OFX deploys Quantexa, utilizing Google Cloud Platform, to fight increasing industry financial crime risk and support regulatory obligations.
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.