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Press Releases

Cathay Bank Selects QuantaVerse AI Financial Crime Solutions to Create a More Effective AML Program

QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, signed an agreement with Cathay General Bancorp, a holding company for Cathay Bank, a California state-charted bank. Cathay Bank selected QuantaVerse’s AI financial crime solutions as a fully built and tested anti-money laundering (AML) platform to reduce costly, manual financial crime investigations. Cathay Bank will deploy the following QuantaVerse solutions to improve the effectiveness of its AML compliance program and financial crime investigations while expanding its correspondent banking services.

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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 de Credito e Inversiones (Bci) for its United States Branch. Bci Miami Branch selected the QuantaVerse AI Financial Crime Solutions as an additional tool to mitigate risk, automate investigations and meet anti-money laundering (AML) compliance requirements. 

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FIBA President and CEO Joins QuantaVerse Board of Managers

QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced that banking leader, David Schwartz, has joined the QuantaVerse Board of Managers. In addition to his service on the QuantaVerse Board, he will continue to serve as President and CEO of FIBA (Florida International Bankers Association), a non-profit trade association dedicated to fostering the growth of international banking through education, advocacy and networking.

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The QuantaVerse Automated Financial Crime 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 accurate suspicious activity reports (SARs) that match FinCEN’s recently revamped SAR filing format in the BSA E-Filing System. The QuantaVerse Financial Crime Report automatically compiles information relevant for filing SARs including content related to FinCEN’s newly recommended fields and categories such as geographic targeting orders, IP address date/timestamping, and modified subtype selections associated with structuring, fraud, money laundering, gaming, identification/documentation, securities and mortgage fraud.

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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 and machine learning to identify suspicious financial activity continues to accelerate. The QuantaVerse AI Financial Crime Platform helps financial institutions and corporations effectively address multiple types of financial crime. Not only does it assist in addressing AML (Anti‐Money Laundering) and FCPA (Foreign Corrupt Practices Act) regulatory and compliance requirements, it effectively identifies suspicious activities that may indicate money laundering, terrorism financing, fraud, bribery or corruption.

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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 to experience the effectiveness of an AI-based approach to audit investigations. The CAE (Chief Audit Executive) Checkup service leverages the QuantaVerse AI Financial Crime Platform to analyze enterprise data and more efficiently and effectively identify insider threats, bribery, corruption, money laundering, fraud, terrorism financing and third-party risks that traditional internal audit investigations routinely miss.

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