Cathay Bank partnered with QuantaVerse

Cathay Bank partnered with QuantaVerse

Cathay Bank partnered with QuantaVerse to reduce costly manual financial crime investigations by using QuantaVerse’s anti-money laundering (AML) platform 

  • Cathay Bank is a Sino-American bank based in Los Angeles, California founded in 1962
  • QuantaVerse is the emerging leader in data science-powered risk reduction solutions, purpose-built for identifying financial crimes
  • The aim of the deployment of these systems is to improve the bank’s AML compliance programme and investigations
  • These platform comprise
    • QuantaVerse Pre-TMS Entity Resolution & Risk Scoring, to reduce transaction monitoring system (TMS) false positive alerts
    • Alert Investigator automates investigations when an alert generates in TMS
    • QuantaVerse False Negative Identification and Investigator, which examines transactions for risks missed by a TMS
    • QuantaVerse Third Party Risk Management for insights into the variances in correspondent bank account activity
  • The Alert Investigator and False Negative Identification and Investigator solutions provide QuantaVerse Financial Crime Reports (FCR) that automate alert investigations
  • It also includes the supporting documentation necessary for the case to be analysed by an AML investigator and for creating a suspicious activity report if indicated