Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

London, April 2018 – Quantexa, the big data start-up, announces that its technology is supporting HSBC with the bank’s work to combat money laundering, following a successful pilot.

HSBC will integrate Quantexa technology into its systems this year. The technology will allow HSBC to spot potential money laundering activity by analysing internal, publicly available, and transactional data within a customer’s wider network.

The deployment of the technology follows a pilot of the software with HSBC in 2017 and will see the global bank and data start-up work together to better detect potentially illegal activity in its broader context, helping the bank fulfil its regulatory responsibilities and provide better understanding of the overall risk.

In March 2017, Quantexa closed a $3.3 million investment, led by Albion Ventures and HSBC.

Vishal Marria, CEO of Quantexa, commented on the relationship: “We are honoured to be working with HSBC in their mission to combat money laundering. Our market-leading technologies will be supporting the bank to join the dots of all their data to give a broader understanding of their customers and transactions across the globe. Through a better understanding, HSBC will be better equipped in their fight against financial crime.”

Ray O’Brien, HSBC’s Global Risk COO and Head of Global Risk Analytics, said: “HSBC is continuously looking for ways to build on our existing capabilities to detect and prevent financial crime. Following our investment in Quantexa, we are looking forward to working closely with the company to utilise its technologies as we become more intelligence led in our approach to financial crime risk management.”

Continue Reading

Recent Posts