Cathay Bank will deploy the following QuantaVerse solutions to boost its AML compliance program and financial crime investigations while expanding its correspondent banking services:
QuantaVerse Pre-TMS Entity Resolution & Risk Scoring (TM) reduces transaction monitoring system (TMS) false positive alerts by classifying the risk of each transacting party, down to the pseudo-client level.
QuantaVerse Alert Investigator (TM) automates investigations when an alert is produced by a TMS.
QuantaVerse False Negative Identification and Investigator (TM) examines transactions for financial crime risks missed by a TMS.
QuantaVerse Third Party Risk Management (TM) provides risk managers with insights into the variances in correspondent bank account activity that might indicate risks of financial crimes, or that suggest an account is being used for something other than its stated purpose.
The Alert Investigator and False Negative Identification and Investigator solutions provide QuantaVerse Financial Crime Reports (FCR) that automate alert investigations, detailing suspicious activity and providing risk scores for both entities and transactions. The QuantaVerse FCR also includes the supporting documentation necessary for the case to be efficiently analyzed by an AML investigator and for creating a suspicious activity report if indicated.
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