LONDON and NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Today, Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced that it has been recognized as a leader in the Chartis Financial Crime and Compliance 50 (FCC50) 2024 report. This report marks the first time Chartis Research has ranked vendors in the FinCrime and compliance space. This is a market Chartis projects to exceed $26 billion at the close of 2025, as global financial institutions work to deploy AI to help meet increasing regulatory requirements and proactively address growing geopolitical risk and legal obligations.
Quantexa’s AI-enabled financial crime and compliance solutions landed category leader positions in Entity Management, Data Enrichment, and Augmented Analytics, ranking sixth overall out of an initial set of almost 300 vendors considered for the report. Quantexa’s solutions were recognized for helping banks detect real risk with proactive alert management and streamlining the process of end-to-end monitoring to effectively identify and mitigate financial crime. Leading financial institutions including BNY Mellon, HSBC, Danske Bank, ING, Standard Chartered and more, have put Quantexa’s Decision Intelligence Platform to work to ensure data quality, unify complex and siloed data at scale, and operationalize it across their KYC, AML, and fraud management efforts.
The FCC50 report builds on recent recognition Quantexa received in Chartis’s RiskTech 100 Report for Trade-Based Money Laundering Solutions and their KYC Solutions Market Quadrant update. It highlights Quantexa’s Decision Intelligence Platform’s ability to combine large data sets and provide a unified view of entities for better risk decisioning. This differentiator, alongside Quantexa’s advanced data integration, decision automation, and AI capabilities, can be attributed to Quantexa’s inclusion in this year's report.
The report lists top vendors setting new standards and leading the charge against financial crime. It builds on previous quadrant research which highlights a range of specific capabilities offered by firms, assessed against criteria including innovation, market responsiveness and comprehensive solution offerings. The full report was released on March 14th.
Alexon Bell, Chief Product Officer, Financial Crime, at Quantexa, said: “It’s gratifying to receive recognition as a leading vendor in the global FinCrime and Compliance market. At Quantexa, our team is committed to evolving the AML market with contextual analytics and driving innovation with our customers to become more effective and efficient when using data and AI to advance the fight against financial crime.”
Commenting on the report, Nick Vitchev, Research Director at Chartis, said that: “Quantexa’s strong showing in our inaugural FCC50 reflects its performance in three key areas; its commitment to technology and process innovation, its collaboration with customers, peers and regulators, and its strong and scalable core technology. The third of these also contributed to two of its category wins (Data Enrichment and Entity Management), whilst its third award reflects how augmented analytics are becoming key drivers in delivering efficiency and effectiveness.”
For more information on how Quantexa can help you to strengthen your connected fincrime and compliance efforts, click here.
To learn more about how industry leaders are benefiting from the use of Quantexa’s Decision Intelligence Platform, visit here.
About Quantexa
Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 700 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.
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