Internal fraud is a complex, evolving threat
Internal fraud is one of the most complex risks banks face. Unlike external threats, insider risks stem from individuals with trusted access to systems, processes, and sensitive customer data. Traditional monitoring tools often struggle to detect these subtle behaviours, leaving gaps around undisclosed conflicts of interest, abuse of privileged access, manipulation of customer accounts, and collusion with external fraudsters. For many banks, whistleblowing has been the primary line of defense, but it is reactive and often surfaces issues only after damage has already been done.
83%
of organizations reported at least one insider attack in the last year
Source: IBM
43%
of internal frauds that were detected, were detected by a tip off
Source: ACFE
HOW WE SOLVE IT
AI-powered context to detect hidden internal risk and prevent losses
Unify siloed and fragmented data
Create a trusted data foundation by unifying HR data, access logs, transactional behaviour, supplier records, and external intelligence into a single connected view.
Single view of employees, customers, and counterparties
Connect data at scale to reveal hidden relationships and conflicts of interest between staff and external counterparties.
Proactive risk signals and scoring
Detect even the most complex types of internal fraud using a scorecard approach that enables proactive prevention, and highlights early-warning signals of misconduct.
Powerful investigation tools
Investigators have all the data, investigation tools, and contextual evidence they need in one location to accelerate investigations and act on fraud.
THE IMPACT
What we have achieved
$>3Bthe amount of fraud Quantexa has helped organizations detect
in investigation time (at scale)
in false positives
in fraud savings
Improved counter-internal fraud effectiveness and efficiency across the enterprise
Decision Intelligence solutions built on our platform
Data Modernization
Build a trusted data foundation to deliver context for decision-making.
Learn moreCustomer Intelligence
Enhance customer experience and accelerate revenue growth with a 360-degree connected view of customers.
Learn moreKnow Your Customer
Detect risk in real time to identify unknown risks and deliver more accurate risk ratings.
Learn moreRisk Management
Revolutionize risk assessment with a holistic understanding of borrowers, their counterparties and relationships.
Learn moreFinancial Crime
Take a unified approach to fighting financial crime and fraud with our Contextual Monitoring solutions.
Learn moreAML and Investigations
Reduce false positives and focus on real risk by modernizing your AML monitoring, detection, and investigation.
Learn moreFAQs
Do you provide real-time capabilities to prevent fraud?
A new contextual approach is required to improve fraud prevention, detection, and investigation. Market participants have raised challenges with using real-time capabilities which are missing risk and blocking legitimate payments or adding friction, which is impacting the customer experience.
However, Quantexa can detect suspicious transactions in near-real-time and alert to ensure high-risk transactions can get immediate attention. Quantexa can also augment with existing technology to provide additional context to illuminate high-risk transactions or provide confidence through mitigating factors that the transaction is legitimate and non-fraudulent.
What out-of-the-box models do you have?
Detection Packs for fraud deliver higher true positives, lower false positives. For additional coverage, we have knowledge and IP, but we will work with your teams to develop using your own data.
I already have a single customer view which we use for fraud. What will Quantexa provide in addition?
Even where our clients already have a system in place to provide a single view, we have still provided deduplication rates of up to 20%.
Our ability to ingest internal and external sources means we have greater breadth and flexibility in the view.
Our ability to perform automated network (entity-powered graphs) enables you to go beyond the customer view to look at relationships, associations, and hidden connections.
Our dynamic Entity Resolution enables tailored views for different fraud and value-chain needs so that you aren't constrained to a one-size-fits-all - solution, which is both useful operationally but also from a security control perspective.
Our analytics and visualization platform enables transparent models to be built in conjunction with your teams and improved operational efficiency in complex triage, etc.
Our analytics team is already doing this work (e.g., bust out fraud). Why do we need Quantexa?
We are not trying to replace the work your client analytics teams are doing, but to enhance it. We can provide a richer 360 view with networks that they can use as inputs to their models to drive better performance. We have an open architecture which means they can continue to use the tools they are using today (eg., Python, R, TensorFlow).
I don’t want another fraud interface. Can this integrate into my existing interface for my fraud uses?
The output of Quantexa can be integrated within existing systems – including other fraud solutions or in-house-developed tools. Quantexa can send signals to other tools which can then give users the options to use Quantexa to perform the investigation or look at the network in more detail.
The network UI is too confusing for business users. Can it be simplified?
The network UI does not need to be presented to business users – a simplified view with only the pertinent information can be integrated within existing systems. Quantexa can cater for all levels of investigator within the fraud team to support them in their role and to determine the best course of action.
In addition, Quantexa has a training academy to enable users to get the most from the tool and learn new ways to help them investigate and achieve better outcomes.
