The banking giant is rolling fast with the collaborations for more and more developments to improve their platform as well as help the financial and user market. Standard Chartered recently announced its partnership with Quantexa. Quantexa is a software development company that makes softwares based on contextual decision intelligence to improve the anti-financial crime efforts. Quantexa announced this partnership through a tweet, whereas Standard Chartered did a press release on its website.
Quantexa is thrilled to announce our partnership with @stanchart, where our Contextual Decision Intelligence technology will empower investigators to quickly & accurately disrupt financial crime. Read all the details of our work together in @finextra: https://t.co/aFhWDwp7j5 pic.twitter.com/xaPoHC5Ici
— Quantexa (@quantexa) November 13, 2019
Quantexa support for the firm
Quantexa plans to work with the financial crime team of Standard Chartered bank by using the entity resolution, network analytics, and contextual data to figure out and solve the real-world challenges like money laundering, fraud, and terrorist financing. The platform will provide a decision leverage AI platform to provide Standard Chartered a 360-degree customer view, which would help the bank’s investigators to make faster and more accurate decisions.
The developed platform will empower Standard Chartered to carry out more complex investigations efficiently and effectively. This improvement in the investigating system would provide a better understanding of the trends and risks across the massive database from more than 40 countries.
Standard Chartered collaborations for improvement
This collaboration with Quantexa would help in automating a manual, time consuming investigating process. This shift would help them focus on better things like finding the real reason behind the issues and provide better consistency in the efforts made during the investigations.
This isn’t the only collaboration that took place with the financial institution as recently, and the bank decided to join the Enterprise Ethereum Alliance (EEA) for developing blockchain technology for the banking sector for its application to improve the services. The EEA has more than 100 members that are working together to implement the Ethereum blockchain for empowering enterprises.