ANTI-MONEY LAUNDERING (AML) SOLUTIONS
QuantaVerse offers four distinct AML solutions that prove invaluable when working independently or in conjunction with each other:
QuantaVerse Pre-TMS Entity Resolution & Risk Scoring
This solution reduces the false positive alerts created by transaction monitoring systems (TMS) by classifying the risk of each transacting party, down to the pseudo-client level before TMS rules and models are applied. By solving both the data problem and the risk segmentation problem, QuantaVerse enables existing TMS rules and models to work as promised. This solution has been proven to reduce the costs associated with investigating false positives by 20 to 40 percent.
QuantaVerse Alert Investigator
By replicating much of the human investigative process that analyzes entities, transactions, and their intention (or economic purpose), up to 70 percent of an AML case investigation can be completed by QuantaVerse. In addition to handling alert investigations at much higher volumes and levels of consistency, the results of investigations are made fully transparent through the QuantaVerse Financial Crime Report (FCR) freeing investigative resources to focus their time and talents on the most complex financial crime risks.
QuantaVerse False Negative Identification and Investigator
This solution examines transactions for financial crime risks that a TMS has missed. The solution can query multiple years’ worth of related entity transactional data and can enable the efficient examination of transactions, including ones considered as Below the Line (BTL). False negatives represent the greatest risks to both the organization and their accountable employees. If suspicious activity is detected, the QuantaVerse Alert Investigator solution automatically creates a QuantaVerse Financial Crime Report (FCR) which includes supporting evidences and risk scores.
QuantaVerse Automated V & V Transaction Analysis
Risk managers can get better insight into the variances in account activity that indicate risk of financial crimes or suggest an account is being used for something other than its stated purpose. This type of analysis is a growing regulatory burden driven by the need to understand the risk profile of clients, and the clients’ clients. The solution continuously updates the values, volumes and velocity of accounts, predicts future expected activity, highlights risk-indicating variances, and confirms whether an account is being used for its stated purpose.
Trade-Based AML Solution
Trade-based money laundering (TBML) has become a preferred method of money laundering for transnational drug trafficking and terrorist organizations. TBML is defined as the process by which criminal organizations exploit legitimate international trade to mask their criminal proceeds. They do so by selling counterfeit goods, falsifying trade documents, over or under invoicing and falsifying financial statements.
While TBML investigations are complex and time-consuming, QuantaVerse AI solutions can assist financial institutions by automating much of the tedious and manual investigative process, allowing investigators to focus on the more complex aspects of the investigations.
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QuantaVerse AI Solutions