Danske Bank has implemented AI-based technology from Quantexa, to enhance its Anti-Money Laundering (AML) monitoring and investigation capabilities.
Following a 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.
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.
Satnam Lehal, Head of Financial Crime detection in Danske Bank, commented:
“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”
Vishal Marria, CEO of Quantexa, commented:
“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,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.”
