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March 22, 2021

Deloitte continues to invest in fighting financial crime

By Zoya Malik

Deloitte continues to invest in fighting financial crime, and it has chosen Quantexa, a London-based data analytics firm

Deloitte and Quantexa, the data analytics pioneer of Contextual Decision Intelligence (CDI), are teaming up to fight illicit financial crime in the face of a fraud epidemic. Such financial crime lies behind some of the most heinous problems facing society today including; terrorism, sexual exploitation, modern slavery, wildlife poaching and drug smuggling.

Using Quantexa’s CDI data analytics platform, Deloitte will help its clients identify trends hidden within their corporate data, monitor known risks and detect new threats hidden from sight in corporate payment flows. Deloitte clients will gain a full and accurate picture of the risks presented from their customers and associated third parties, legitimate and otherwise as part of Deloitte’s Economic Crime Governance and Risk Management Frameworks.

Catching white-collar criminals is no easy task, but they can be unmasked by looking at data flows in context.

Vishal Marria, CEO of Quantexa said, ’We’re delighted to be partnering with Deloitte, whose proven global expertise in compliance and governance is the perfect fit for our CDI technology. New risks demand new technology and techniques. 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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