Quantexa’s KYC Solution, part of its industry leading Decision Intelligence Platform, recognized for completeness of offering, risk scoring, customer profile enrichment, and customer onboarding
LONDON, Oct. 19, 2022 (GLOBE NEWSWIRE) — Today Quantexa, a global data and analytics software company pioneering Contextual Decision Intelligence (CDI) and helping the world’s leading organizations and government agencies solve some of their toughest data challenges, announced that they have been recognized as a category leader in the just released 2022 Chartis KYC Solutions Market Update and Vendor Landscape report. Quantexa is being recognized as a category leader for completeness of their enterprise solution as well as market potential. The Quantexa KYC Solution was rated “best in class” for KYC risk scoring and customer profile enrichment with additional data and received an advanced ranking for customer onboarding and reporting, and dashboarding.
The Chartis KYC report is focused on the macro themes of cost saving and efficiency. Currently, KYC processes can be manual, error-prone and result in a poor experience throughout the customer lifecycle. Quantexa’s Decision Intelligence Platform transforms the approach to KYC by adding context and clarity from onboarding to exit, dynamically monitoring, and assessing customer risk and opportunity, and shifting away from manual periodic reviews to an automated, proactive process.
The platform connects internal and external data to create a single, enriched, holistic view of a customer and its control, and uncovers hidden connections between customers, counterparties and their behaviors which are often impossible to see in isolation. Along with automation and the use of AI to achieve efficiencies, the solution facilitates a continuous and informed understanding of customers for better, faster decision making throughout the customer acceptance, identification, activity monitoring, and risk management processes.
Quantexa’s positioning in the report is reflective of their customers’ proven results and is proof that adopting a contextual and perpetual approach to KYC reduces the time and costs involved for businesses. It also transforms what has become a tick-the-box exercise, back into the true purpose of understanding the risk and exposure brought on by customer activity. By increasing automation and using decision intelligence, businesses stay ahead of the volume and velocity of data related to KYC policies and processes and can free up their teams, so they have more time to concentrate on high-risk customers and value-add tasks.
Quote: Phillip Mackenzie, Senior Research Specialist, Chartis
“The Chartis RiskTech Quadrant for KYC does not simply describe one technology solution as the best – rather, we use the most sophisticated ranking methodology to explain which solution would be most suitable for buyers, depending on their implementation strategies. Our research finds that Quantexa’s KYC Solution offers businesses the necessary controls to address the risks involved in using AI in their compliance programs.”
Quote: Dan Higgins, Chief Product Officer, Quantexa
“Quantexa is thrilled to be included in the Chartis KYC Market Quadrant Report, positioned very strongly amongst an esteemed list of enterprise solution providers. Traditional ongoing due diligence and periodic refreshes of KYC continue to drive cost and complexity for businesses. The increasing regulatory, budget and customer pressures demand a new way of thinking. Quantexa’s contextual approach reduces the time and cost of KYC by increasing automation, connecting non-obvious relationships, and leveraging decision intelligence for perpetual monitoring of risk. This translates into more accurate risk identification and management, lower costs, and improved customer experience. We are confident that this approach will continue to provide value to our clients and drive overall market growth for Quantexa.”
ABOUT QUANTEXA
Quantexa is a global data and analytics software company pioneering Contextual 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 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 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne, and Sydney. For more information, contact Quantexa here or follow us on LinkedIn.
ABOUT CHARTIS
Chartis is a research and advisory firm that provides technology and business advice to the global risk management industry. Chartis provides independent market intelligence regarding market dynamics, regulatory trends, technology trends, best practices, competitive landscapes, market sizes, expenditure priorities, and mergers and acquisitions. Chartis’ RiskTech Quadrant reports are written by experienced analysts with hands-on experience of selecting, developing and implementing risk management systems for a variety of international companies in a range of industries, including banking, insurance, capital markets, energy and the public sector.
A PDF accompanying this announcement is available at:
http://ml-eu.globenewswire.com/Resource/Download/0b256614-6827-4dd7-b1fe-d9c1df5bb360
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