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QuantaVerse announces new enhancements to financial crime platform

QuantaVerse, an AI financial crime platform provider has announced that the company has added new enhancements to its AI Financial Crime Platform. The FinTech, with the new capabilities, is expecting to help QuantaVerse customers reduce overall AML compliance costs by automating time-consuming investigative tasks and perform financial crime detection more accurately and at an accelerated pace.

“We are continually innovating and rolling out new features and improvements to meet the needs of our customers. Specifically, these new capabilities reinforce our commitment to helping customers significantly cut AML costs while remaining effective in identifying financial crime risk,” said David McLaughlin, CEO and Founder of QuantaVerse.

The key enhancements added to the platform include:

  • Economic Purpose: enhance the capability to identify an entity’s line-of-business and to determine if transactions between two companies make business sense.
  • Enhanced Web Data Collector: upgraded its Web Data Collector model which proactively searches open source databases for information regarding transacting parties.
  • Incremental Processing: increased scalability by enhancing QuantaVerse’s incremental processing stream
  • QuantaVerse Alert Investigator UI: a new UI, enabling customers to perform alert status tracking and investigator annotation.
  • Network Visualization Enhancements: to help users see and interpret all transactional connections in a network, thereby gaining insights into the scope of activities of a risky group of customers.

The QuantaVerse AI Financial Crime Platform was purpose-built by a team raised in data science, finance and law enforcement. Its focus is using artificial intelligence, machine learning, and data analytics to find and combat financial crime. Its proprietary tools and methods help access, acquire, ingest and analyze structured and unstructured data.

QuantaVerse offers end-to-end financial crime platform that uses AI and machine learning to automate AML investigation process. Its AI Financial Crime platform helps to reduce financial crime risk by identifying patterns and discerning anomalies. It assists customers to comply with AML (Anti-Money Laundering), KYC (Know Your Customer) and FCPA (Foreign Corrupt Practices Act) regulations.

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