Quantifind raises USD 23 mln and signs four large banks as clients

Thursday 2 March 2023 10:49 CET | News

US-based fraud prevention company Quantifind has secured USD 23 million in funding after signing deals with multiple financial institutions, government entities, and others.


Quantifind will use the funding to expand its footprint in international markets, grow global brand recognition, and enhance its solutions for financial crimes investigation, continuous customer monitoring, alerts triage, and supply chain risk screening.

Investors said that as the financial markets continue to evolve, it is critical for risk management teams to develop dynamic detection capabilities to prevent and mitigate financial crime and global threats. Quantifind is uniquely poised to deliver the data coverage, rich feature set, and detection accuracy grounded in science that global risk specialists across industry and government need to be effective at fighting financial crime and emerging threats.

US-based fraud prevention company Quantifind has secured USD 23 million in funding after signing deals with multiple financial institutions, government entities, and others.

Quantifind's Graphyte accurately and cost-efficiently combats financial crime

As per the press release, Quantifind is an essential part of a risk management strategy. Clients see upwards of 40% productivity gains for investigations and 75% of high-risk cases automatically triaged.

Quantifind also supports nonprofits by lending its intelligence software to the Polaris Financial Intelligence Unit against human trafficking and the United for Wildlife taskforce. These organisations use the Quantifind risk intelligence platform to understand the financial patterns that signal human trafficking red flags. This intelligence is shared with financial services and law enforcement leaders.

Furthermore, these thought-leading nonprofits provide industry expertise as feedback to Quantifind machine-learned risk typologies to power a paradigm for risk standards. 

Product innovation fuels customer advancement

Looking to 2023 and in line with its mission to help global risk specialists overcome the mounting pressures of budget cuts, less staff, and tighter regulations; organisations use the Quantifind Graphyte automation platform to:

  • Manage risks using AI to detect hidden threats quickly and with industry-leading accuracy;

  • Reduce costs and increase overall productivity by saving 40% of investigator time with 80% fewer false-positives;

  • Contribute to the safety of the global financial ecosystem by identifying bad actors and their networks.


What does Quantifind do?

Quantifind's AI-powered automation uncovers relevant risk signals from disparate and unstructured data to help risk specialists investigate people and organisations faster and more accurately. Quantifind's Graphyte automation platform maximises risk intelligence workflows by delivering superior entity resolution, dynamic risk typologies, knowledge graph technology, and name science.

Quantifind is a provider to tier 1 banks, digital banks, financial institutions, and government organisations for the following use cases: Know Your Customer (KYC), Customer Due Diligence (CDD), Fraud Risk Management, and Anti-Money Laundering (AML). These organisations benefit from proven outcomes: 75% reduction in false positives, 50% improvement in investigative efficiency, and daily screening of the entire vendor/donor base with >90% name resolution accuracy.

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Keywords: KYC, AML, fraud prevention, risk management, funding
Categories: Fraud & Financial Crime
Companies: Quantifind
Countries: World
This article is part of category

Fraud & Financial Crime


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