QuantaVerse to offer free fraud investigation software during the coronavirus pandemic

QuantaVerse, an automated financial crime investigation solution, is offering its alert investigator to financial institutions for free during the coronavirus pandemic.

The RegTech platform is releasing the service to help financial institutions which may face emergency shortages of financial crime investigators due to the current situation. This will help them keep up with their regulatory requirements and ensure transactions and trades continue to operate even with less staff, if claims.

Its Alert Investigator is designed to immediately augment screening and investigation efforts and can be added to disaster preparedness strategies and activated as an investigator contingency effort is critical shortage develops.

QuantaVerse CEO and founder David McLaughlin said, “Having on-demand access to our Alert Investigator solution offers a number of critical benefits in the event a temporary shortage of investigators should arise.

“First, it helps institutions fulfil their regulatory requirements under difficult circumstances. Secondly, it ensures processes like sanctions screening do not delay transactions from being processed as slowing the pace of financial systems will only aggravate an already bad situation. Finally, the quality and consistency of results help organizations adjudicate and report money laundering and other financial crimes that often run rampant during global crises.”

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