Quantexa, a global data and analytics software company pioneering Contextual Decision Intelligence (CDI) and helping the world’s leading organizations and government agencies solve some of their toughest data challenges, announced that they have been recognized as a category leader in the just released 2022 Chartis KYC Solutions Market Update and Vendor Landscape report. Quantexa is being recognized as a category leader for the completeness of its enterprise solution as well as market potential. The Quantexa KYC Solution was rated “best in class” for KYC risk scoring and customer profile enrichment with additional data and received an advanced ranking for customer onboarding and reporting, and dashboarding.
The Chartis KYC report focuses on the macro topics of cost reduction and efficiency. Currently, KYC processes can be manual, error-prone, and lead to a poor experience throughout the customer lifecycle. Quantexa’s Business Intelligence Platform transforms the approach to KYC by adding context and clarity from entry to exit, dynamic monitoring and assessment of client risks and opportunities, and moving manual evaluation to an automated and proactive process.
The platform connects internal and external data to create a single, rich, and holistic view of customers and their control and reveals hidden connections between customers, partners and their behavior that often cannot be seen in isolation. Along with automating and using AI for efficiency, the solution enables customers to gain insight and continuity to make better and faster decisions throughout the adoption, identification, monitoring, and adoption process. Monitor client operations and risk management.
Quantexa’s position in the report reflects proven customer results and is proof that taking a contextual and long-term approach to KYC reduces the time and costs involved. for businesses. It also turns what has become a familiar exercise into the real goal of understanding the risks and risks posed by client activity. By increasing automation and the use of business intelligence, companies stay ahead of the pack in terms of data volume and speed in relation to KYC policies and processes and can free up their team, leaving them more time to focus on high-risk clients and value-added tasks.
“The Chartis RiskTech Quadrant for KYC does not simply describe one technology solution as the best – rather, we use the most sophisticated ranking methodology to explain which solution would be most suitable for buyers, depending on their implementation strategies. Our research finds that Quantexa’s KYC Solution offers businesses the necessary controls to address the risks involved in using AI in their compliance programs.”
Phillip Mackenzie, Senior Research Specialist, Chartis.
“Quantexa is thrilled to be included in the Chartis KYC Market Quadrant Report, positioned very strongly amongst an esteemed list of enterprise solution providers. Traditional ongoing due diligence and periodic refreshes of KYC continue to drive cost and complexity for businesses. The increasing regulatory, budget and customer pressures demand a new way of thinking. Quantexa’s contextual approach reduces the time and cost of KYC by increasing automation, connecting non-obvious relationships, and leveraging decision intelligence for the perpetual monitoring of risk. This translates into more accurate risk identification and management, lower costs, and improved customer experience. We are confident that this approach will continue to provide value to our clients and drive overall market growth for Quantexa.”
Dan Higgins, Chief Product Officer, Quantexa.