Danske Bank deploys Quantexa’s AI platform for financial crime detection in FX

The implementation of Quantexa’s Contextual Decision Intelligence tools has helped enhance Danske Bank’s ability to detect suspicious activity within its market trading business for areas such as foreign exchange, securities and equities. 

stealing leads

Quantexa, the data and analytics software company pioneering contextual decision intelligence, announced today its AI-based technology is supporting Danske Bank as it enhances its Anti-Money Laundering (AML) monitoring and investigation capabilities.

After a successful pilot in 2018, the bank is now using Quantexa’s CDI platform to perform transaction monitoring on Danske’s market trading business and financial crime investigations. With Quantexa’s contextual monitoring, entity resolution & network analytics capabilities, Danske Bank uses artificial intelligence (AI) to uncover the real-world context in data to detect financial crime.

The implementation of Quantexa’s Contextual Decision Intelligence tools has helped enhance Danske Bank’s ability to detect suspicious activity within its market trading business for areas such as foreign exchange, securities and equities.

“Harnessing technology enables us to identify complex financial crime behaviours more effectively. Running advanced analytics on a wide range of datasets can help us better detect, investigate, and prevent financial crime,” said Satnam Lehal, Head of Financial Crime detection in Danske Bank.

Quantexa’s open platform architecture produces high-quality alerts for markets monitoring, so the bank has taken the pilot project to the next stage and integrated it with its existing infrastructure. Danske Bank is continuing to increase its financial crime detection and monitoring capabilities across several areas in the bank.

“The significant success of our contextual approach to monitoring in Danske Bank’s markets business and supporting financial crime investigations is another great example of our ability to surface suspicious activity, even in the most complex product and data sets,” said Vishal Marria, CEO of Quantexa.

“We look forward to continuing our work with Danske Bank and furthering our mission to help uncover organised crime networks by making data meaningful for more effective decision making and providing flexible software tools that integrate into existing environments, across any size of organisation” said Mr Marria.

Read this next

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<