Wayne, PA (December 6, 2016) – Last week, QuantaVerse, a data science company founded specifically to help the financial services industry, was chosen as the winner of the “People’s Choice Award” based on polling of conference attendees at the IMPACT 2016 Capital Conference. From a pool of close to 200 applicants, QuantaVerse was among 45 regional technology companies invited to present at the conference which included institutional investors, venture investors, angels as well as technology professionals. QuantaVerse was one of three companies presenting at the conference to be selected to enter the IMPACT “Lion’s Den” and pitch a panel of notable investors. As a result, QuantaVerse secured offers totaling $300,000 in investment from the “Lions.”
“QuantaVerse was thrilled to be selected as one of the featured technology companies at the most established venture conference in the Mid-Atlantic region,” said David McLaughlin, CEO of QuantaVerse. “As flattered as we are to receive investment offers, the validation provided by the technology and capital community, particularly given the deep expertise our region has in banking and finance, is truly gratifying.”
McLaughlin delivered an engaging presentation on how its data science technology solution, designed to help banks comply with Anti-Money Laundering (AML) regulations, was not only protecting banks from crippling fines but helping thwart the attempts of criminals and terrorists who are exploiting the banking system to fund their reprehensible activities. QuantaVerse was then selected along with two other companies to pitch in the Lion’s Den, a “Shark Tank-like” format comprised of a panel of investors having to make offers in real-time.
During the Lion’s Den presentations, the audience of close to 500 was invited to express their opinions through a live mobile polling application delivered by Yorn, a real-time data and analytics platform. Based on QuantaVerse’s presentation, an overwhelming majority of audience respondents said they would invest in the data science company.
“Congratulations to QuantaVerse and CEO David McLaughlin who quickly illustrated the significant commercial opportunity and societal good offered by QuantaVerse’s data science-powered platform,” said Walter Buckley, Co-founder and Chief Executive Officer of Actua and one of three Lions to extend an investment offer to QuantaVerse. “Having worked extensively in banking and fintech, I understand the urgent need to solve this problem and there is no doubt in my mind that the solution lies in informed, well-applied data science and AI technology.”
The IMPACT 2016 Capital Conference was held from November 29-30 at the Sheraton Philadelphia Downtown Hotel. The conference, presented by the Philadelphia Alliance for Capital and Technologies (PACT), featured keynote speakers, industry track panel sessions and presentations from technology, healthcare and early stage companies.
“The IMPACT 2016 Capital Conference was a resounding success for the Mid-Atlantic region,” said Dean Miller, PACT President and CEO. “The conference set out to demonstrate how growth through disruption can be achieved in entrepreneurship, investment and society. The QuantaVerse story is an embodiment of exactly that.”
About Philadelphia Alliance for Capital and Technologies (PACT)
Philadelphia Alliance for Capital and Technologies (PACT)’s vision is to be the go-to resource for fast growing companies, and a driver of entrepreneurship and innovation in the Philadelphia region. PACT provides its members with valuable content and connections to capital, coaching, and customers that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region. Visit www.philadelphiapact.com for more information.
About QuantaVerse, Inc.
QuantaVerse, Inc. is the emerging leader in data science-powered risk reduction and revenue growth solutions, purpose-built for the global banking industry. Founded by financial services industry veterans and innovators, QuantaVerse solutions employ proprietary data science algorithms, integrate and filter internal bank data and related external data – including public Internet data, unindexed deep web data and government and commercial datasets – to help the global banking industry to significantly improve their compliance with AML, KYC and BSA regulations and requirements. QuantaVerse solutions also drive revenue by turning KYC data into strategic insights about the markets and customers they serve. To learn more how QuantaVerse can help your financial institution, please contact us at (610) 465-7320.
On the final day of the FIBA conference, QuantaVerse Founder and CEO, David McLaughlin, participated on the “Customer Profiling, Use of Innovative Technologies in Onboarding and Risk Assessment” panel. David Schwartz, President and CEO of FIBA, set up the panel discussion by emphasizing the importance and impact that innovative technologies have on risk assessment and the customer onboarding process.
CASE STUDY: AI-Powered Entity and Alert Adjudication Streamlines Financial Crime Investigation Processes
Based on these outcomes, the bank is moving QuantaVerse AI solutions into production. Moving forward, the bank will be better equipped to find hidden financial crime risk while automating 70 percent of its AML investigation processes, enabling investigators to focus their time and talents on the most complex cases.
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