What’s special about it?

The QuantaVerse Platform helps companies manage financial crime risks more effectively and affordably using powerful AI, machine learning, and data analytics tools. The solutions leverage both structured and unstructured data from internal and external sources to provide detailed, actionable insights that are flipping the tables on financial crime and the criminals behind it.

The Platform uses AI and machine learning to automate data-gathering, analyze risk, identify financial crime, and document findings for consistent, streamlined compliance-related reporting.

What features are relevant?

The QuantaVerse False Positive Reduction Solution stops false positives before they are created. Deployed ahead of the TMS, the solution uses AI to clean and enhance transaction data so false positives, and related investigations, are cut by as much as 40%. 

Unlike other AML investigation tools that address individual steps within an investigation, the QuantaVerse Automated Investigations Solution automates the entire investigative process including entity profiling, network visualization, adverse media, economic purpose, and beneficiaries for entities and counterparties.

The QuantaVerse Advanced Detection Solution examines transactions for financial crime risks that a TMS has missed. The solution can query multiple years of entity transaction data, automate transaction analysis, and identify the undiscovered financial crime that represents risk to both the organization and their accountable employees.

The findings and analysis of the QuantaVerse Platform are uniquely reported through QuantaVerse Financial Crime Investigation Reports (FCIR). FCIRs are structured the way an investigator thinks through a case. The reports provide key details along with a scored risk analysis and auto-generated case narratives. With QuantaVerse FCIRs, investigators can accurately assess more cases each day, and use QuantaVerse narratives to quickly explain cleared cases or prepare SARs when required.

For challenging cases that require examining what is behind the information and risk assessments presented in the QuantaVerse FCIR, investigators seamlessly access the QuantaVerse financial crime investigation application. The QuantaVerse application serves as a single pane of glass for investigators to go deep without jumping in and out of multiple systems and databases.

Who are some competitors?

Although there are some AI tools that attempt to address individual steps in the investigation process, the QuantaVerse Automated Investigations Solution is the only solution that automates all of the data-gathering and compilation steps of the investigative process. This includes entity profiling, network visualization, adverse media, economic purpose, and beneficiaries for both focal entities and counterparties. Unlike others, the QuantaVerse risk analysis considers all aspects of the case and reports comprehensive findings for investigators to efficiently review and adjudicate. 

What is a real case example?

Financial institutions have for years relied on rules-based TMS to root out money laundering and other financial crimes. However, a significant percentage of TMS alerts are false positives that result in paralyzing inefficiencies and runaway costs. 

Simultaneously, many financial crimes go unalerted and are therefore unreported. These false negatives have the potential to cause significant risks to both the organization and their accountable employees.

A leading commercial bank sought an AI-powered financial crime platform to:

• Decrease related investigations 

• Improve investigative processes and facilitate faster, more consistent reporting

• Handle growth without continuously adding to its compliance team.

To begin, the QuantaVerse Platform was fed and analyzed three years of transactional data as well as one year’s worth of TMS alerts. The solution conducted a lookback analysis that examined transactions for risk observables such as related entities, economic purpose, adverse media, and transaction beneficiaries. After a complete analysis, the QuantaVerse Platform was able to quickly clear a staggering 70 percent of alerts.

With respect to the remaining 30% of TMS alerts, QuantaVerse replicated much of the human investigative process that analyzes entities, transactions, and the intention of those transactions. This reduced the bank’s AML case investigation time by an additional 75%. 

The analysis of cases is clearly reported through the FCIR helps investigators adjudicate and report a Level 1 case in just 15 minutes and more complex investigations in just an hour.