Global professional services firm Accenture announced on 7 November that it has both invested in and formed a strategic partnership with data analytics firm Quantexa
In the statement, Accenture said its minority investment will enable Quantexa to drive development of its AI-based entity resolution and network analytics technology with support from Accenture Applied Intelligence.
The software will assist clients with combatting financial crime through enhanced access to actionable insights.
Through the partnership, Accenture plans to develop fresh capabilities by augmenting its own technology and risk expertise with Quantexa’s network analytics solutions, as well as continuing research and development of AI-powered solutions to address money laundering, credit risk, and customer insights.
Quantexa’s existing network analytics platforms will also benefit from the refinement enabled by Accenture’s Financial Crime Analytics Utility, increasingly adaptability and resilience.
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“By investing in Quantexa and combining our expertise, we are equipping our clients with new technologies and approaches to solving the most pressing data issues,” said Adam Markson, managing director of Accenture Finance and Risk Services, in the press release.
“Furthermore, the strategic alliance further enhances our Financial Crime Analytics Utility, which will help prevent the movement of illicit funds that enable real world issues, including human trafficking and drug crime.”
Quantexa CEO Vishal Marria added:
“We are delighted to be working with Accenture to deliver and scale our technology to help solve our clients’ biggest data challenges.
“Creating context is critical in investigations to help clients connect the dots in their data, allowing them to see the complete picture and make better decisions.”