Quantexa, a data and analytics software firm, has announced its results for AY 2020 which shows that it had more than doubled its revenues as compared to the previous year and 67% of that came from new clients that were signed.
This is a sign that the company is growing and its products are in high demand. It is a company that has pioneered Contextual Decision Intelligence (CDI) which has seen demand from several quarters including the government.
Its CDI platform helps banks and other financial services companies and users to tackle money laundering and other financial crimes which have helped it to establish strong relationships with major customers like HSBC, Standard Chartered Bank, and Danske Bank.
Vishal, CEO of Quantexa, said “Quantexa continues its journey to become the global leader in Contextual Decision Intelligence. This has been a year of major growth with continuing support from our global clients and alliances. Perhaps most pleasing is the significant expansion into new industries and markets amid a global pandemic. We will continue to develop as the data and analytics provider of choice for enterprises in the financial sector and organizations beyond who seek to utilize context in making their data meaningful so they can more accurately and efficiently make trusted operational decisions.”
The technology developed by Quantexa helps 7 of the top 10 banks in the UK and Australia and it has also established offices in Melbourne and Singapore as well. It helps its customers through the entire life cycle of a user right from prospecting, KYC, risk management, financial crime, and fraud detection, etc.
With more and more banks going the digital way and their users also moving online slowly and steadily, it is important that banks and other financial firms provide strong, reliable, and seamless services to their consumers. The contact between the consumers and the firms has reduced a great deal over the last few years as most of the transactions are done online.
In such a situation, it becomes very important for the firms to know more about the customer but at the same time, it also becomes difficult for them to monitor users and consumers whom they rarely see. This is where companies like Quantex step in and study all the data that is generated to help banks and the financial firms to classify their customers based on the risk factors and helps them to keep a tab on the consumers and the transactions to ensure that any kind of fraud or crime is avoided.