QuantaVerse Adds Automated High-Risk Entity Reviews to its Financial Crime Investigation Report (FCIR) Lineup
Citing a surge in client demand, QuantaVerse, which uses AI and machine learning to automate financial crime identification and investigations, has enhanced its entity-based Financial Crime Investigation Report, or FCIR, to assist financial institutions in efficiently conducting periodic entity risk reviews.
QuantaVerse Expands Leadership Team with the Appointment of AML Industry Veteran Aaron Stroud as Vice President, Head of Sales
Compliance teams today are under increasing pressure to reduce risk and drive financial crime out of their institutions utilizing existing and, sometimes, limited resources. With more than 20 years of sales experience in the risk, compliance, and financial crime arena, Aaron Stroud has a deep understanding of the challenges facing the financial industry, and how to address their pain points.
New Technology and Efficiency Enhancements Further Differentiate QuantaVerse’s Financial Crime Investigation Report
QuantaVerse enhanced its Financial Crime Investigation Report (FCIR) so AML cases can be accurately adjudicated more efficiently than ever before. Among other critical information, the QuantaVerse FCIR presents investigators an at-a-glance analysis of transactional relationships, negative news, and money laundering typologies along with risk scores calculated by the QuantaVerse machine learning engine and narratives needed to clear a case or document a suspicious activity report (SAR) submission.
QuantaVerse’s AI-Powered Anti-Money Laundering Solutions Secure Highest Possible Ratings from Independent Model Validation Firm
QuantaVerse engaged an independent model validation firm to ensure the regulatory rigor of its AI and machine learning platform. Leveraging its proprietary modeling framework to thoroughly analyze QuantaVerse’s AI solutions, the firm delivered a comprehensive model validation.
QuantaVerse Offers AI-Powered Country Code Derivation to Enable Financial Institutions to Experience the Potential of Automated Entity Resolution
Jurisdiction identification, one capability of the QuantaVerse Pre-TMS Entity Resolution & Risk Scoring solution, is now available as a standalone function for banks looking to reduce risk and false positives, and increase efficiency of AML/BSA investigations...
New QuantaVerse Features Help Financial Institutions Curtail AML Compliance Costs
QuantaVerse Supports Financial Institutions Facing Financial Crime Investigator Scarcity Due to COVID-19
New adaptations of QuantaVerse Alert Investigator offer automated alert investigation and business continuity as Coronavirus impacts teams of people responsible for identifying financial crime
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced it has signed an agreement with Cathay General Bancorp…
QuantaVerse’s Artificial Intelligence (AI) Solutions Selected by Bci Miami Branch to Efficiently Mitigate AML Risk
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, has signed a three-year agreement with the Banco…
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced that banking leader, David Schwartz…
The QuantaVerse Automated Financial Crime Investigation Report Addresses New FinCEN Suspicious Activity Report (SAR) Format
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, helps financial institutions file timely and…
QuantaVerse Prospers from Increased Adoption of Artificial Intelligence Solutions That Effectively Identify Financial Crimes
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, finished 2017 strong as adoption of AI…
QuantaVerse Debuts ‘CAE Checkup’ to Help Corporations and Financial Institutions Evaluate the Effectiveness of an Artificial Intelligence Approach to Internal Risk Audits
QuantaVerse, the first in the market with AI solutions purpose-built for identifying financial crimes, offers a new service that corporations and financial institutions can utilize…
QuantaVerse Introduces CCO Checkup to Help Financial Institutions Evaluate Artificial Intelligence in Reducing AML-Related Risk
QuantaVerse, the first in the market with AI solutions purpose-built for identifying financial crimes, offers an analysis that financial institutions can use to test the …
QuantaVerse Announces Appointment of Banking Technology Leader Kenneth M. Harvey to Board of Managers
QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, has appointed technology and…
QuantaVerse Artificial Intelligence Platform Helps Address FinCEN’s “Fifth Pillar” Customer Due Diligence Requirement
QuantaVerse, innovator of data science and AI solutions purpose-built for the identification of financial crimes, has released a new paper that explores…
QuantaVerse Offers Artificial Intelligence Platform That Helps New York-Based Financial Institutions Comply with New Anti-Terrorism Transaction Monitoring Regulations
QuantaVerse today announced that its artificial intelligence (AI) and data science-powered technology platform is uniquely designed to help banks and…
Last week, QuantaVerse, a data science company founded specifically to help the financial services industry, was chosen as the winner of the…
QuantaVerse Secures New Investments to Accelerate Company Growth and Scale Data Science Platform for the Banking Industry
QuantaVerse has secured new financing from private equity investors. This latest round of funding has raised the current investment in…
Financial Services Industry Veteran Announces Formation of Data Science Company to Help Banks Detect Criminal Activity Risk
Financial services industry veteran David McLaughlin today announced the formation of QuantaVerse, a new data science technology company focused on providing…
Legacy AML technology such as transaction monitoring systems (TMS) have little to no ability to identify and assess risk created by shell companies. And while policies, procedures, and processes, if applied correctly, can protect financial institutions from becoming conduits for some fraction of money laundering, terrorist financing, and other financial crimes, identifying shell company risk continues to be elusive.
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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