How to Combat Financial Fraud and Crime with Quantexa

Quantexa is a decision intelligence platform that analyzes big data with AI technology. With the recent evaluation of $1.8 billion, it consolidates itself as one of the leaders in AI technology.

Want to know more about Quantexa? Here is a detailed introduction of its features, applications, and more.

About Quantexa

Quantexa is a company that enables better decisions by utilizing AI to analyze large amounts of data. By providing context to your data, the strategizing process will be clearer and faster. Quantexa helps you create confidence in your decisions by ensuring they are all backed up by data, so institutions can execute with certainty and clarity.

Composite AI Stack

Quantexa builds a powerful composite AI stack to address a wider set of business problems. What is a composite AI stack? It is a recent trend in AI that counters some of the drawbacks of AI and Machine learning. It can be simply understood as staking one AI onto another, and these AIs complement each other to produce faster and more accurate results. This also added extra difficulty for development, requiring a combination of subject expertise and domain knowledge, as well as a variety of language models and deep learning techniques.

The composite AI Stack ensures Quantexa has the capabilities to solve some complex problems while maintaining high credibility. Quantexa also offers the option of adding customized models to their stack.

Features of Quantexa

Data Management

With decades of data collection, the company often faces the issue of siloed data. Quantexa's Data Management feature combines data sources from every source to build a single source that can be applied to all parts of an institution. This unification of data improves entity quality management, providing the scaled data that is needed for any data-driven institution.

Anti-Money Laundering

Rules-based systems have some critical flaws that have historically been exploited in some financial crime cases. As opposed to the traditional method of rules-based transaction monitoring, Quantexa implements the Contextual Monitoring system.

Since the rules are monitored and updated at all times, it is hard to constantly evolve for emerging threats.  It also tends to focus on one single transaction without enough context or other external factors. They might miss some trace or evidence that suggests potential relationships between accounts, which is the key to solving the new mode of money laundering schemes with a more complex fraud network.

In contrast, Contextual Monitoring focuses on relationships and transactions in a larger context rather than transaction risk in isolation. With the modern system of digital banking, this method has proven to be highly effective in detecting potential risks.

Customer Intelligence

Customer data is often hard to collect and connect since it tends to be scattered across systems.

Quantexa can provide a detailed view of customer data, from social connections to supply chains, all with full context. It connects internal and external data to create a holistic, 360° view of customers and their networks.

Applications of Quantexa

Banking

Quantexa fundamentally changes the customer experience in banking by using data and insights more effectively in customer due diligence (CDD) and know-your-customer (KYC) processes. This reduces a lot of manual work that can be done by AI with higher efficiency and accuracy.

Quantexa also opens up a global social network that consolidates customers’ understanding of the international market. Identifying these opportunities can help customers adapt to the rapidly changing ESG demands of government regulations.

Telecommunication

In the case of telecommunications, data is often complex and isolated due to legacy systems. As a result, it is hard to truly drive and leverage sales with data. Quantexa provides a trustworthy platform for these telecommunications companies.

Quantexa’s Decision Intelligence Platform provides insights and contexts for individual customers, such as the products and services they have purchased. This is important information to further grow a business.