Synechron and Quantexa Partner to Deliver Powerful Entity Resolution and Network Analytic Solutions that address AML/Fraud, Credit Risk, Trader Surveillance and More

 Synechron and Quantexa Partner to Deliver Powerful Entity Resolution and Network Analytic Solutions that address AML/Fraud, Credit Risk, Trader Surveillance and More
07.07.2017 12:30 pm

Synechron and Quantexa Partner to Deliver Powerful Entity Resolution and Network Analytic Solutions that address AML/Fraud, Credit Risk, Trader Surveillance and More

Consultancy

Synechron Inc., a global financial services consulting and technology services provider, has today announced its partnership with Quantexa, a specialist entity resolution and network analytics software provider. The companies have teamed up to combine the strength of Quantexa’s software with Synechron’s business consulting expertise across its Customer Lifecycle Management (CLM) practice to help financial services firms manage challenges like anti-money laundering (AML), fraud, credit risk, and trader surveillance that place their businesses at significant risk and can cost them considerably.  

Quantexa enables companies to make better decisions with their data through real-time entity and network resolution enhanced with network analytics and Artificial Intelligence (AI). Their technology allows users to knit together vast and disparate data sets and derive actionable intelligence. This is done by using Dynamic Network and Entity Scoring which gives businesses the ability to score entities and networks in both batch and real-time. This capability allows organizations to adapt to different use cases, react to crises, and evolve with requirements. With Synechron’s business consulting and front-to-back end development expertise, shared clients will be the first to experience Quantexa’s powerful entity resolution and network analytics software customized to their unique business use cases and with bespoke application development expertise.

Earlier this year, Synechron, as part of its AI Accelerator Program, announced its Data Science Accelerator for AML/Fraud which built a use case and technology architecture layer on top of Quantexa’s platform. The accelerator enables firms to protect their key assets from financial crime through algorithms that can detect potential illicit behavior, allowing the firm to react dynamically to the threat and proactively put in place controls to counter such threats.  It uses behavioral pattern detection and predictive analysis, combined with an expert understanding of financial service firms’ operations to deliver a powerful surveillance solution that can be further customized to firm processes and controls.  

This partnership expands on that work, allowing businesses to apply that same technique to other use cases where organizations are further looking to create a single view of their customers and to more strategically and insightfully market and sell products, optimize processes and services, and react promptly and cost effectively in crisis management.  These areas include Fraud, AML, KYC, Anti-bribery and Corruption, Trader and Trade Surveillance, Crisis Management, Credit Risk Assessment, Procurement, and Marketing Targeting with a 360-degree customer view.

“Financial services firms are looking for Data Science to help them solve complex business challenges. Financial crime, whether in the guise of fraud, money laundering, terrorist financing, rogue trader, bribery, corruption, or market abuse, presents a clear and present danger for the financial services industry,” said Tony Clark, Managing Director of Synechron said. “Data Science has the ability to bring together a vast amount of data and create a single view of that data that can then be used to understand deeper patterns and relationships for strategic decision-making; however, realizing the full potential of the technology requires a deep understanding of the technology and the related business operations. Quantexa’s capability-led approach allows end-users to build entity and networks dynamically on the fly as well as in batch, which allows for a high-level of customization and a need for combined consulting and development guidance.”

“Synechron’s digital, business consulting and technical teams provide strong expertise and a proven track-record in delivering complex and strategic solutions, including systems integration, application development, customization and support.  This combined with their strong domain knowledge for fast deployment made them a natural partner for Quantexa,” said Imam Hoque, COO and Global Head of Product for, Quantexa. “Their accelerator approach focuses on giving clients a real, customized solution to their problems with proven technology, and we were glad to be a part of that initiative. Now, we look forward to expanding the relationship to deliver similar solutions to clients across a range of use cases.”

 

Related News

Wolters Kluwer Finance, Risk & Regulatory Reporting launches Professional Services consultancy offering for Americas

Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business has launched a Professional Services offering for ongoing software management and... Read more »

d-fine and Asset Control join forces to deliver enhanced market data management and analytics to business users

d-fine, a leading European consulting firm, and Asset Control, the market leader in financial data management have launched an initiative to... Read more »

An Extraordinary Six Months

 

It has been an extraordinary six months, not just from a social perspective but also from an economic and financial market perspective. This week we pause for... Read more »

FIME accelerates open banking API innovation & compliance with automated test solution

FIME ... Read more »

Digiterre Launches DataMax to Help Technology Teams Accelerate Growth in Data-Driven Organisations

Digiterre, a software and data engineering consultancy, today announced the launch of DataMax, an enterprise platform for technology teams to manage and analyse big data.  It... Read more »

Know Your Customer is the driving force behind CSLB-Asia's KYC compliance in corporate services

CSLB-Asia, providers of family office, corporate secretarial and commercial business consultancy services, have announced their collaboration with award-winning RegTech company... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel