Fraud, waste & abuse prevention challenges are constantly evolving
Many factors make combatting fraud tougher than ever today, including the global COVID-19 pandemic with its pressures on governments to distribute funds, grants, and loans at unprecedented scale and speed, while operating with limited resources.
Other factors include the increasing use of digital systems for applications and the distribution of funds, plus the increasing sophistication of criminal groups that can exploit any weaknesses in anti-fraud controls at scale and with remarkable speed, and who can be based anywhere in the world.
Identify and prevent fraud, waste & abuse with contextual intelligence software
Empower your team with the best tools available for today’s challenges. The Quantexa platform enables you to:
- Make accurate eligibility determinations
- Prioritize and focus on high-risk applications, people, and organizations
- Stop improper payments before they happen (instead of chasing the money)
- Identify risks and fraud channels and improve internal controls to prevent losses
- Automatically discount non-fraudulent events and minimize false positives
- Reduce the time required for review and investigation
hit rate to reduce false positives.
scale to over 66bn records and thousands of users.
Identify and prevent fraud, waste & abuse in government programs
See how using contextual decision intelligence enables government agencies to reveal the connections between people and organizations that matter most in your efforts to determine eligibility, prevent improper payments and stop fraud.
Learn how to get a single, complete view of every individual and/or business.
The benefits of using CDI to detect and prevent fraud, waste & abuse
Reduce fraud losses
Improve detection rates to flag illicit activity before the money is lost.
Identify new risks
Track emerging trends and stay ahead of emergent typologies.
Reduce false positives
Discount explainable signals to allow investigators to focus on high-risk issues.
Enrich investigations with context
Gather everything you know about an individual or business, from shared identities to bank accounts and transactions.
Reveal hidden and subtle activities
Draw on a wider network instead of looking at isolated events to better understand risk.
Dedicate more time to real fraud
Identify and concentrate on high-risk issues rather than false positives.
Why use the Quantexa platform
Build once, use many,
ingest to create a single
view with networks
Apply your data to multiple use cases—without replicating data sets.
more accurate decisions
Use context to improve decision accuracy across the organization, find new opportunities and uncover risk.
Scale to billions of records
in batch or real time
Built on proven, scalable open source technologies like Hadoop, Spark and Elastic.
Future-proofed open architecture
Integrate seamlessly into your existing IT ecosystem, with flexible deployment options: native, or containerized for private and public cloud.
Ensure data transparency
Use explainable data linking, advanced AI and decision models for regulatory compliance.
Keep your data secure
Rely on granular security levels for dynamic control, with all activity audited.
Operationalize your data in a matter of months – not years.
Use entity resolution and data volume to overcome missing or poor quality data.
Get the latest thinking, advice and opinions
Deloitte and Quantexa Partner to Tackle Global Illicit Finance and Economic Crime Risk
Deloitte will utilise Quantexa’s Contextual Decision Intelligence (CDI) platform to enable its clients to leverage technology and analytics as part of robust Economic Crime Governance and Risk Management Frameworks.
How Automated Anti-Fraud Technology Can Substantially Reduce Fraud Losses in UK Public Sector
UK Officials predict up to £26 billion in losses from COVID-19 Bounce Back Loan program. See how anti-fraud technology can substantially reduce this.
How To Detect Insurance Fraud Threats [Infographic]
Throughout the pandemic, the threat of fraud
and scams has intensified as the global economy
continues to struggle and financial pressures grow. Find out how automated fraud detection can help insurers save from losses.
How Government Agencies Can Improve Fraud Prevention Using Analytics and Data
Government agencies using data-driven, analytical approaches to fraud prevention can discover risks and threats faster compared to traditional methods – a critical advantage that helps reduce fraud losses and increase the likelihood of recovering funds.
How To Overcome The Threat of Mule Fraud During COVID-19? (Part 2)
The way in which criminals operate is shifting as a result of COVID-19. Financial institutions must adapt to change quickly to prevent criminals from using mule fraud to take advantage of the vulnerable.
AML Regulations: Exploring the Ever-Evolving Landscape
Evolving AML regulations and enforcement actions have seen FIs hit with large fines. Innovative technologies could be the answer to better AML detection.
Book a demo
See how our Contextual Decision Intelligence platform prevents fraud before it happens, creates a real-time view of your customers, and reduces false positives.