Standard Chartered and Quantexa collaborate to fight financial crime

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.

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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 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.

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

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