The Graphyte Platform provides intelligent financial crimes automation, allowing organizations to develop more effective and productive KYC (know your customer) and AML (anti-money laundering) initiatives.
PALO ALTO, Calif., June 22, 2022 (NEWSWIRE) – Quantifind’s AI-powered automation platform, Graphyte, provides financial institutions and government agencies with intelligent financial crimes automation, along with modern and intuitive investigation applications, allowing for fast, accurate risk assessments for more effective KYC-AML teams.
The launch of Graphyte Queue by Quantifind provides a platform expansion to rapidly disposition sanctions, perpetual KYC and triage investigations. Adam Mulliken, Chief Product Officer, shared that “The platform combines leading edge AI/ML and holistic open source media to provide targeted results linked to one or more of our risk typologies.”
Using an intuitive investigation application, consolidated analysis and automated reporting features, Graphyte has been shown to provide an up to 40% increase in productivity, compared to legacy processes. The optimized AML-KYC workflow, with monitoring, search, curation, review and reporting features, ensures improved compliance and efficiency.
“Quantifind’s Graphyte platform not only automates the process of screening for potential risks, but it also provides a seamless and efficient tool for teams to reduce fraud and criminal activity,” said Ari Tuchman, CEO of Quantifind. “It is vital for businesses to utilize the proper screening and verification tools, and Quantifind’s cloud-based solution provides these businesses with the tools they need to reduce financial risk.”
As digital banking becomes the norm, financial institutions must maintain a delicate balance between security and convenience. Regulators place financial institutions under constant pressure to improve financial controls, particularly during the onboarding of new clients. At the same time, these institutions must reduce friction for new clients as much as possible to stay competitive.
However, the race to make financial services and loan approvals faster and more convenient comes at a price, including failing to adequately assess risk. The use of weaker security controls to accelerate account opening procedures increases the potential for fraud, exacerbating the need for due diligence to help prevent money laundering and the evasion of financial sanctions.
Graphyte is purpose-built to help KYC-AML teams boost efficiency and performance; clients have reported increased production speeds of up to 200%. Leveraging Quantifind’s AI and technology stack, Graphyte provides teams with more accurate reporting and data utilizing more than 10,000 data sources, performing up to 200 queries per minute and significantly reducing the number of false positives. Risk rankings of these results, as well as the avoidance of irrelevant, inaccurate data, help investigators prioritize high-risk cases while minimizing distractions.
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Quantifind’s Graphyte AI-powered financial crimes automation platform applies comprehensive data coverage, best-in-class risk assessment accuracy, and powerful investigation tools to deliver AML-KYC productivity gains of over 40%.
Watchlist Screening | Investigation | Adverse Media Screening | Credit Risk