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Standard Chartered and Quantexa Join Forces to Tackle Financial Crime With Contextual Decision Intelligence

May 20th, 2020

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”.

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