KUALA LUMPUR, May 11 (Bernama) -- Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced that ING is deploying its platform to strengthen the bank’s risk detection and investigative efforts.
In a statement, Quantexa Chief Product Officer, Dan Higgins said the most effective method to prevent money laundering is by understanding the context underpinning and linking how criminals behave.
“We are excited to build on our successful track-record of innovation with ING and support them in their mission to improve risk coverage throughout significant global practice areas and their continued effort to be a leader in identifying and combating criminal threats in the banking industry,” he said.
Meanwhile, ING Group Global KYC lead, Karim Tadjer said: “By leveraging the contextual insights generated through their platform, we can strengthen our detection models and automate key processes in our KYC and AML measures. This is leading to efficiencies for our investigative teams and improved customer experiences.”
Using artificial intelligence (AI) and advanced graph analytics capabilities provided by Quantexa’s platform, ING’s investigative teams are focused on developing more effective and efficient global Know Your Customer (KYC) and Anti-Money Laundering (AML) measures.
By connecting customers and counterparties, the platform creates context and uncovers complex networks, further automating the first line defence processes.
Quantexa’s platform was selected for its ability to aid in analysing internal transaction data and to incorporate external data, to complete a 360-degree view of customer base risk.
Early this year, ING and Quantexa completed a successful first implementation for Trade Finance in Hong Kong and Singapore, and are now working on a global rollout with expanded efforts in Financial Markets and Correspondent Banking.
-- BERNAMA
No comments:
Post a Comment