Quantexa Recognized as Leader in Enterprise and Payment Fraud Solutions in the 2024 Chartis RiskTech
Chartis also recognized Quantexa’s Decision Intelligence Platform AI capabilities for specialized applications in tax fraud detection and government use cases
LONDON, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced that it has been recognized as a Category Leader in the RiskTech Quadrant® for Enterprise Fraud Solutions in Chartis Research’s Enterprise and Payment Fraud Solutions, 2024 Market Update and Vendor Landscape report. The positioning as a leader reflects Quantexa’s strong performance across multiple key criteria, particularly in advanced fraud detection techniques and its robust platform for fraud analytics.
The annual Chartis Market Update and Vendor Landscape report notes several key themes in the market for anti-fraud solutions. These include the growing role of generative AI in automation and the co-piloting of fraud solutions. The report explains how vendors are using new cutting-edge technology to address their clients’ evolving needs in the fraud landscape. Quantexa’s inclusion as a Category Leader recognizes its innovative and comprehensive platform approach, integrating workflow with knowledge graph analytics and addressing the constant evolution of challenges in identity risk and application fraud.
Quantexa has also been recognized as one of the top vendors in the inaugural Chartis RiskTechAI 50 2024 ranking and research report. The Chartis RiskTechAI 50 Report ranks global AI solutions in risk technology and has acknowledged Quantexa’s ability to use AI for specialized applications in tax fraud detection and government use cases. In the report, Quantexa technology has been commended in two categories: ‘Advanced tax fraud capabilities’ and ‘AI for government applications.’
This recognition underlines Quantexa's industry leading expertise in leveraging AI for specialized applications in tax fraud detection and government use cases.
This recognition comes at a pivotal time for Quantexa, as the company continues to roll out its Q Assist technology, supporting customers to succeed in AI deployments. This technology suite allows Quantexa customers to operationalize generative AI for transformational gains without significant investment in infrastructure, tooling, and additional skilled resources.
Q Assist brings generative AI capabilities to Quantexa’s Decision Intelligence Platform.
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Ivan Heard, Global Head of Fraud Solutions at Quantexa, said: “Being ranked among other category change-makers by Chartis inspires us to continue exceeding in advanced, AI-driven fraud detection techniques. The recognition that we’re a best-in-class solution validates that we're providing our customers with some of the strongest capabilities in emerging fraud types like APP and mule detection. Our aim is always to address the evolving challenges that our clients are facing in the changing world of fraud by developing top fraud detection techniques that out-class traditional approaches and ensuring the latest advancements in AI for clients to better understand their customers.”
Maryam Akram, Research Principal at Chartis, added: “Quantexa’s innovative use of AI and machine learning to collect, prepare, process, and analyze data, as well as to automate business processes across such areas as entity resolution and business intelligence, secured its position and awards in the RiskTechAI ranking. Its platform enables and integrates a wide array of AI and machine learning techniques, both supervised and unsupervised, to deliver advanced capabilities.”
"The fraud landscape is changing, as complexity increases exponentially there’s a strong need for a deep understanding of risk – and Quantexa’s highly unique and innovative approach to fraud management reflects this change," said Nick Vitchev, Research Director at Chartis. "Quantexa is able to combine a multitude of fraud and risk signals and identify hard to detect linkages, providing a compelling way to manage large-scale fraud investigations, as well as some of today’s core fraud methodologies (such as APP fraud and mule detection)."
To learn more about Quantexa’s advanced tax fraud and AI for government capabilities, visit here.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa's Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.
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