Scoring Concepts: Scenarios & Risk Factors
This guide explains how to differentiate between Scenarios and Risk Factors. At Quantexa, we aim to give our clients meaningful Alerts. We focus on those that pose the highest risk to investigators. This article targets Business Analysts, Business End Users, and Subject Matter Experts (SMEs). It focuses on individuals engaged in risk assessment, decision-making, or developing Scores. When readers grasp these distinctions, they can design Scores and Scorecards better. This helps us show only the most relevant risk profiles to investigators. Read the full article for: Definition of Scenarios and Risk Factors Best Practices for Setting Scenarios vs Risk Factors How Scenarios and Risk Factors affect Alerting and Re-Alerting Using Detection Packs 4. Scoring Concepts: Scenarios & Risk Factors - Quantexa Community This article explains how to differentiate between Scenarios and Risk Factors. At Quantexa, we aim to give our clients meaningful Alerts. We focus on those that pose the highest risk to investigators. This article targets Business Analysts, Business End Users, and Subject Matter Experts (SMEs). It focuses on individuals…
Explore the new Trade AML demo 🔎
Trade-based money laundering is becoming increasingly complex Criminals hide behind complex patterns of collusion which traditional transactional monitoring (TM) systems are unequipped to identify systematically. To stay one step ahead and effectively fight crime, financial institutions need to upgrade their AML technology to be able to examine social connections and understand transactions in the context of a wider network. This interactive demo explores how exactly Quantexa's Decision Intelligence Platform enables AML teams to identify and investigate highly complex TBML cases. Launch the Trade AML Demo📢 Introducing the Community Training Program 📢
Education Services and the Quantexa Community are excited to announce the launch of the Community Training Program: Quantexa User Foundations and Quantexa Technical Foundations! Powered by the Quantexa Academy, the Community Training Program provides registered Customer and Partner Community Members an opportunity to access the content of the Quantexa User Foundations and Quantexa Technical Foundations programs easily and at no extra cost. "What I love most about the Community Training Program is the speed of providing access to training materials. This has been particularly useful to client Product Managers and business stakeholders being onboarded onto projects. They can jump right into the topics that interest them. It’s a flexible and accessible approach to learning that is responsive to individual needs." , Technology Account Partner Benefits for You and Your Team Reference & Refresher Material: Perfect for revisiting key concepts and keeping skills sharp, especially for those who have previously completed the Academy. Enhanced Knowledge: A great way for non-end users to build awareness of how their colleagues use the Platform. Team Development: Share this with your team to expand their knowledge of Quantexa’s functionalities— they may uncover new features or techniques to enhance their work. Quantexa User Foundations (QUF) This program introduces the key concepts of the Quantexa Platform through tutorials, demos, and easy-to-follow guides for end-users, such as Analysts and Investigators. Modules: Introduction to Quantexa Decision Intelligence Platform: A high-level introduction to what the Quantexa Platform is and what it does. The module also explains some of Quantexa's capabilities and the benefits it offers to customers looking for a cutting-edge and user-friendly Decision Intelligence Platform. Core Concepts: This module introduces the foundational concepts of the Quantexa Platform, including Networks, Documents, and Entities, while exploring features like Search, Investigations, and Scoring to help users understand data structure, Entity Resolution, and Network creation. Search: This module provides an in-depth overview of the Quantexa Platform’s Search function, teaching users how to configure Advanced Search Options, construct effective queries, and interpret Search Results to support investigative work. Investigations: This module introduces the Quantexa Platform’s User Interface for conducting Investigations, focusing on mapping the 5W process, navigating Network Visualizations, and utilizing features like the Multi-Panel UI, Contextual Search, Scoring Panel, and Entity Lab. Quantexa Technical Foundations (QTF) This program introduces some of the more technical components of our Platform, namely Data Fusion (ETL) and Assess (Scoring). We recommend completing Quantexa User Foundations (QUF) before beginning Quantexa Technical Foundations (QTF). Modules: ETL and Data Fusion: The module covers the key concepts and definitions related to the Extract, Transform, and Load (ETL) process utilizing Data Fusion: Quantexa’s data modeling tool. Scoring with Assess: This module introduces you to the key concepts and functionalities of Assess: Quantexa’s Modelling and Scoring capability. The important process of Scoring, which allows you to identify the subjects of interest linked to your data, will be explained in detail. Learn more: More information on the Quantexa Academy and Community Training Program can be found in the Community Library: 6. Community Training Program - Quantexa Community The Community Training Program is powered by the Quantexa Academy. The materials provide an exciting opportunity for Community Members to learn more about Quantexa's capabilities. Use the materials as a reference or to refresh your knowledge. Program scope The Community Training Program is a work in progress and it… Important Note: The Community Training Program is a great learning opportunity. However, using the materials on the Quantexa Community does not provide an official accreditation. If you require official accreditation, you will need to complete an official certification program through the Quantexa Academy.
📣 Announcing Our Upcoming Webinar: Tips & Tricks for Managing Large and Complex Networks 📣
We’re excited to announce our upcoming session based on the very popular article Tips & Tricks for Managing Large and Complex Networks by . In this session, Stacey will team up with , Head of Product Design, and , Head of AML Solutions, to delve into practical strategies and new functionalities that simplify the complexities of working with large-scale networks, ensuring you can harness their full potential. To make this webinar as relevant and valuable as possible, we want to hear from you! Submit your questions ahead of time to ensure we cover the topics that matter most to you. Get Involved: Share Your Questions: What specific challenges do you face when managing large or complex networks? Are there any network features you'd like more clarity on? Highlight Your Interests: Are there particular techniques or features from Stacey’s article that you'd like to explore further during the session? Let us know! How to Submit Your Questions & Topics: Comment Below: Drop your questions or areas of interest in the comments ⬇️ Suggestion Box: Alternatively, submit your thoughts via our Community Suggestion Box. Community Suggestion Box Help us make the Community better! Let us know if there is anything that would improve your experience on the Quantexa Community. What's Next: We'll be collecting your questions over the next few weeks, so don’t miss your chance to contribute! Stay tuned for the official session announcement and invitation. We can't wait to see you there!
Entity Quality: The Good, the Bad and the Ugly 🎭
This article looks at Entity Quality and how to judge it based on business need. It introduces Overlinking and Underlinking as a product of Entity Resolution, and these two concepts are two ends of a continuum. Entity Quality is the bedrock of any Entity Resolution (ER) based solution and has implications up and down the Quantexa stack. Getting this right is an essential part of an effective deployment. In this article we look at the basics of how to frame this problem and highlight that context is king for each solution. Read the full article here (login required): 3. Entity Quality: The Good, the Bad and the Ugly - Quantexa Community This article looks at Entity Quality and how to judge it based on business need. It introduces Overlinking and Underlinking as a product of Entity Resolution and these two concepts are two ends of a continuum. Note: All the examples in this article are fictional to illustrate how to approach Entity Quality. Entity Quality…Resources for Investigators 🔎
📚️ Did you know you can find everything in the Community tagged with Investigators in one place? Check it out here: Investigators We’re excited to announce our upcoming session based on the very popular article Tips & Tricks for Managing Large and Complex Networks by @Stacey_Parsons. In this session, Stacey will team up with @Mark_Cossey, Head of Product Design, and @Matt_Long, Head of AML Solutions, to delve into practical strategies and new… The Investigator collection includes: A day in the life of… Investigator including: Fraud Manager Investigation Team Leader Chief AML Officer Tips & Tricks for Managing Large and Complex Networks A Tale of Two Investigations: Transforming Financial Crime Risk Monitoring and Investigations All Investigations are created equal…right? Investigating Network Fraud: 4 Key Areas for Investigators Quantexa Certifications from the Academy: Quantexa Investigations Series: AML Investigator - This course for AML Investigators teaches individuals how to combine many of the key components of the Quantexa Platform (presented in the Quantexa User Foundations program) to facilitate their ability to conduct an AML-themed Investigation. Quantexa User Foundations (QUF) - This program introduces the key concepts of the Quantexa Platform for end-users, such as Analysts and Investigators, through tutorials, demos, and easy-to-follow guides. Having completed the program, learners will understand the core concepts and how to use the key UI components of the Quantexa Platform - based on a Know Your Customer (KYC) use case. These resources are also available through the Community Training Program for all Community members to access. 💭 Don't forget to join the Financial Crime user group for industry & solution focussed discussions & events on financial crime and fraud detection, prevention and investigation.Join an Exclusive Case Management UI Demo & Feedback Session
🚀 Unlock the Future of Security with Our New Case Management UI Join one of our three exclusive sessions for a sneak peek of Quantexa’s new Case Management UI as we unveil the latest in financial crime prevention technology. Be part of a collaborative event and have your say on Case Management UI. Event Highlights: 🌐 Demo by @Sam_Carr-Archer: Witness the power of innovation as Sam Carr-Archer takes you on a journey through our latest Case Management UI. Explore its intuitive design, advanced functionalities, and seamless user experience that sets a new standard in the industry. 🤝 Feedback Session: Your opinion matters! Join a dynamic small group interview where we invite our Financial Crime and Anti Money Laundering customers to share their thoughts on the new UI. Your insights will shape the future of our platform. Why Attend? Gain exclusive insights: Explore the latest advancements in financial crime prevention & be among the first to see and interact with our new Case Management UI. Shape the future: Contribute directly to the evolution of our platform through your valuable feedback. Network: Connect with industry experts and fellow professionals. Spaces will be limited to ensure that all attendees can share their feedback during the session. RSVP now and secure your spot. Don't miss this opportunity to learn more about Quantexa’s Case Management UI and shape its future functionality. Available Sessions (log in required): Session one: Wednesday 14th February (4- 5pm GMT) https://community.quantexa.com/events/129 Session two: Thursday 15th February (10:30am 11:30 GMT) https://community.quantexa.com/events/130 Session three: Friday 16th February (1-2pm GMT) https://community.quantexa.com/events/131 Not able to attend? 📋 You can alternatively provide your feedback on Case Management via survey. Interested in participating in more research? 🔍 Join our User Research Panel: This event is not just a showcase; it's a collaboration. Join our User Research Panel and play a pivotal role in refining our solutions. In joining the User Research Panel, you can stay up to date with all the latest feedback opportunities, early-access &insights to features and gain a Community badge. Your feedback will directly influence the enhancements we make to better serve your needs.
Advancing Correspondent Banking Insights: Managing Respondent Banks Risk
As a follow up to my previous blog on Managing non-customer risk in Correspondent Banking, I have written a new blog on Managing Respondent Banks Risk. 3 key points from the new blog are: Correspondent Banking Risks: The article explores risks in correspondent banking, covering both macro and micro aspects. FATF Recommendations: FATF advises correspondent banks to manage risks through updated customer due diligence on Respondent Banks, considering their customer types, and profiles, with a focus on leveraging technology. Quantexa's Solution: Quantexa's Decision Intelligence platform, using Entity Resolution and Advanced Analytics, offers a tech-driven solution for understanding and managing risks in correspondent banking. Read more in the new blog: How to Manage Correspondent Banking Risk - QuantexaDon't miss our new 'A day in the life of... an Investigator' series 🔎
Did you know we've recently added a new section for investigators to our A day in the life… series? Check out the series (login required) to read about a typical day of some of the best investigators using Quantexa, as well as some of their top investigation success stories. Interested in contributing your story? Let us know at community@quantexa.com
A Tale of Two Investigations: Transforming Financial Crime Risk Monitoring and Investigations
The adoption of technologies to enhance financial crime risk monitoring has become ubiquitous within the banking sector. These technologies span a spectrum, ranging from the automation of fairly binary controls to the deployment of black-box Artificial Intelligence (AI) models. Regulators are increasingly advocating for organizations to embrace technological advancements in their fight against financial crime, as exemplified by: FCA, MAS, HKMA all have RegTech support initiatives with digital sandboxes to promote solutions to complex regulatory challenges; MAS provides RegTech grants for Singapore based FIs looking to enhance their risk management and compliance functions with the use of technological solutions; HKMA’s recent AML Regtech: Network Analytics report promotes the adoption of network analytics capability to strengthen the response of banks’ anti-money laundering (AML) systems to deception and other financial crimes. In addition to improving risk identification, many solutions are dedicated to enhancing the actual investigation process by eliminating manual, historically time-consuming and inconsistent steps such as data collation or narrative production for SAR/STR filing. These solutions hold significant appeal as they can streamline resources while maintaining comprehensive risk coverage. The benefits of risk mitigation and operational optimization offered by such tools are widely recognized and discussed. However, what is less frequently discussed is the need to transform the underlying investigative process itself. The most cutting-edge tools may fall short of their full potential if they are not accompanied by process innovations. Transformative technologies demand transformative approaches, that often includes a cultural and mindset shift, as well as a technical one. To illustrate this point, let's examine a financial crime case study through two different investigative lenses and how they can lead to materially different outcomes:
