LONDON, Jan 8 (Bernama) -- Quantexa, a leading provider of Decision Intelligence solutions for the public and private sectors, today announced recognition in Chartis’ RiskTech Quadrant Update for anti-money laundering (AML) transaction monitoring solutions. The report highlights Quantexa’s “best-in-class” capabilities across critical areas to help financial institutions (FIs) fight financial crime and comply with regulatory scrutiny.
Financial institutions are bound by national (such as the USA PATRIOT ACT) and supranational regulations (such as the EU’s Anti-Money Laundering Directives) to prevent money laundering. The UN estimates that annual laundering volumes range from two to five percent of GDP. Compliance and prevention can be challenging due to the frequent changes to these regulations, increasingly sophisticated money laundering schemes and internal technological and data challenges.
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