Quantifind and Oracle Announce Strategic Collaboration to Transform Anti-Money Laundering Processes
MENLO PARK, Calif., Sept. 23, 2019 /PRNewswire/ -- Quantifind, an emerging player in the financial crimes risk management software market and a Gold-level member of Oracle PartnerNetwork (OPN), have entered into a strategic collaboration with Oracle Financial Services. Quantifind's software-as-a-service (SaaS) solutions for Investigations, Customer Due Diligence, and Alerts Management will integrate with Oracle Financial Services Financial Crime and Compliance Management platform, giving Oracle's clients access to next-generation automation and intelligence capabilities directly in their compliance workflows.
Quantifind's solutions address some of the biggest and most costly challenges in Anti-Money Laundering (AML) compliance today. With a unique combination of data, intelligence, and user-centric interfaces, Quantifind is helping to change the way that analysts and investigators assess risk on individuals, corporations, and alerts in the AML pipeline. At a time when tightening regulations and regulatory enforcement are driving compliance costs up, a Quantifind implementation can improve the bottom line by up to 30 percent efficiency gains.
Like Quantifind, Oracle Financial Services Financial Crime and Compliance platform is at the forefront of a new era in AML software technology. Machine learning and artificial intelligence are powering levels of automation and efficiency not possible just a few years ago. With a direct integration to Quantifind, financial crimes analysts will require just one log-in to access all of the relevant internal and external data necessary to actually conduct an investigation.
"As customers continue to tackle AML compliance issues, Oracle will continue to drive innovation in the AML market. We have identified Quantifind's technology for external data review and intelligent risk assessments as truly best in class. This integrated capability enhances our Oracle Financial Services Financial Crime and Compliance offering and will aid in our vision of next-generation AML solutions," says John Edison, Vice President Products – Financial Compliance Management, Oracle Financial Services.
"We are excited to announce our collaboration with Oracle today. Oracle's market-leading software applications for enterprise case management and financial crimes investigations provide a natural home for our AI-driven risk models. This relationship will help us bring our next-generation machine learning platform to the AML community and immediately deliver operational efficiencies through Oracle's established workflows," says Quantifind CEO Ari Tuchman.
About Quantifind
Quantifind is a technology company whose AI platform uncovers business drivers and signals of risk across disparate and unstructured text sources. Quantifind's differentiated data science is delivered as software-as-a-service (SaaS) with consumer-grade user experiences. Quantifind's clients include some of the world's most recognized brands, spanning industries such as financial services, retail, e-commerce and restaurant.
In financial crimes risk management, Quantifind's solution uniquely combines internal financial institution data with public domain data to assess risk in the context of Know Your Customer, Customer Due Diligence, Fraud Risk Management, and Anti-Money Laundering processes. Quantifind's solutions layer intelligence on top of relevant external data from a variety of licensed and public sources ranging from social media to news to company data.
Founded in 2008 by two atomic physicists, Quantifind is headquartered in Menlo Park, California and has offices in both New York City and Washington, D.C.
Oracle Financial Services
Oracle Financial Services provides solutions for retail banking, corporate banking, payments, asset management, life insurance, annuities and healthcare payers. With our comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next generation financial services. We enable customer-centric transformation, support collaborative innovation and drive efficiency. Our data and analytical platforms help financial institutions drive customer insight, integrated risk and finance, fight financial crime and comply with regulations. To learn more visit our website.
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle's partner program that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions. OPN offers resources to train and support specialized knowledge of Oracle's products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to be recognized and rewarded for their investment in Oracle Cloud. Partners engaging with Oracle will be able to differentiate their Oracle Cloud expertise and success with customers through the OPN Cloud program – an innovative program that complements existing OPN program levels with tiers of recognition and progressive benefits for partners working with Oracle Cloud. To find out more visit: http://www.oracle.com/partners.
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SOURCE Quantifind
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