Jan 5, 2021   SOURCE: PR NewsWire

Technology Enhancements to the QuantaVerse Financial Crime Platform Extend its Lead in AML Innovation

WAYNE, Pa., Jan. 5, 2021 /PRNewswire-PRWeb/ -- QuantaVerse, which uses AI and machine learning to automate financial crime identification and investigations, finished 2020 well-positioned for continued growth in 2021 due to its dedicated focus on solving AML challenges and a commitment to innovation. In 2020, QuantaVerse introduced a series of technology enhancements to its AI-powered Financial Crime Platform.

"Comprised of financial crime specialists and exceptionally talented data scientists, the QuantaVerse team gets new insights from compliance teams using our AML solutions every day in the real world," said David McLaughlin, CEO and Founder of QuantaVerse. "We are relentless in our efforts to identify otherwise undiscovered financial crime and automate up to 70% of the human workload associated with TMS alert triage, investigations, and SAR-filing so investigators can focus on what most requires their attention and expertise."

Notable enhancements introduced by QuantaVerse this year include: 

    --  Explainability. QuantaVerse leveraged Local Interpretable Model-Agnostic
        Explanations (LIME) to make the findings of complex algorithms more
        understandable. Investigators see scores for various types of
        AML-related risks and can now also understand how all types of risks
        contribute to the overall risk assigned to an alert or entity.
    --  Learning. QuantaVerse extended its model training capability. The
        platform now leverages input from an entire network of investigators to
        train and refine the QuantaVerse machine. One such feature is a new
        investigator annotation tool which lets users quickly provide feedback
        to the system. QuantaVerse can now use these combined learnings to
        inform its neural network.
    --  Web Collector and Analytics. QuantaVerse enhanced its unstructured web
        data collection function and added a new analytics capability to
        rationalize that data. Additional language capabilities were added to
        the QuantaVerse adverse media screening process, including for keywords
        that indicate potential criminality. The infrastructure built to enable
        this advancement supports the quick addition of new languages as
        required by clients.
    --  New Observables. In 2020, QuantaVerse added numerous new observables to
        its Financial Crime Platform. QuantaVerse's AI agents determine the
        prevalence of risk-bearing characteristics, or observables, related to
        transacting entities. One of the QuantaVerse observables unveiled this
        year was sanctioned jurisdiction affiliation which leverages data to
        identify if entities are engaging with sanctioned jurisdictions even
        though their transactions are not transferred through sanctioned
        jurisdictions.
    --  Enhancements and Expansion of Financial Crime Investigation Reports
        (FCIRs). In the last 12 months, QuantaVerse's entity- and alert-based
        FCIRs were enhanced. New usability enhancements were added to the
        reports, including a narrative section that explains what risks were
        cleared and the rationale for those determinations. For investigators
        tasked with reviewing flagged TMS alerts, the FCIR narratives have
        helped reduce the average time spent investigating a case by as many as
        40 minutes. Additionally, QuantaVerse debuted its High-Risk Entity
        Report, an enhanced entity-based FCIR that assists financial
        institutions in efficiently conducting periodic entity risk reviews.

To learn about QuantaVerse AML solutions, please visit: https://quantaverse.net/our-solutions/anti-money-laundering-aml-solutions.

About QuantaVerse

QuantaVerse is the leader of artificial intelligence (AI) and machine learning solutions purpose-built for identifying financial crimes. QuantaVerse utilizes its validated and proven AI Financial Crime Platform to reduce financial crime risk by identifying patterns and discerning anomalies that current approaches and systems regularly miss.?The QuantaVerse solutions have helped customers more efficiently comply with AML (Anti-Money Laundering), KYC (Know Your Customer) and FCPA (Foreign Corrupt Practices Act) regulations. Most importantly, QuantaVerse is helping to rid organizations of money laundering and other financial crimes that support our greatest global ills - the drug trade, human trafficking, terrorism, and political corruption. For more information, contact QuantaVerse at (610) 465-7320 or visit http://www.QuantaVerse.net.

Media Contact

Mark Tordik, QuantaVerse, +1 732-763-3078, mtordik@broadpathpr.com

SOURCE QuantaVerse