Corporate FinanceCrime

Deloitte partners with Quantexa to tackle illicit finance

The move will help enterprises establish a ‘robust framework’ against organised crime, and a defense against the rise of illicit finance, economic crime, and the fraud epidemic

Quantexa, the data and analytics software company, has announced it has partnered with Deloitte to tackle global illicit finance and economic crime risk.

The move will help enterprises establish a “robust framework” against organised crime, and a defense against the rise of illicit finance, economic crime, and the fraud epidemic.

Deloitte will utilise Quantexa’s contextual decision intelligence platform to effectively monitor payment flows and gain a more accurate picture of the holistic risks presented from customers and associated third parties, legitimate and otherwise.

Andrew Oates, partner at Deloitte, said: “Our deep economic crime subject matter expertise, combined with Quantexa’s technology and advanced analytics, enables our clients to identify trends, monitor known risks, and detect new threats more effectively – it is the next evolution of illicit finance and economic crime monitoring.”

Vishal Marria, CEO of Quantexa added: “We’re delighted to be partnering with Deloitte, whose proven global expertise in compliance and governance is the perfect fit for our CDI technology.

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“Organisations need to rethink the use of traditional rules-based approaches to monitoring activity, which are inflexible and incapable of dealing with the complexity and scale of today’s enterprise data demands.”

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