Category: Africa

Chartis also gave top ranking to Quantexa’s Entity Resolution solution – addressing key data management challenges that are costing financial institutions millions

LONDON, Dec. 22, 2022 (GLOBE NEWSWIRE) — Today Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced that their Decision Intelligence Platform has been recognized as a category leader in the Chartis RiskTech100 report for Trade-Based Anti-Money Laundering Solutions (TBAML). Quantexa’s Decision Intelligence Platform has also been recognized by Chartis as a category leader in the recently released Chartis Financial Crime Risk Management Systems, Entity Management and Analytics Quadrant report.

RiskTech 100: Trade-Based Anti-Money Laundering Solutions
The 2023 RiskTech100 report ranks the world’s major players in risk and compliance technology. In the Trade-based money laundering (TBML) category Quantexa was named as a category leader for data support of their enterprise solution. The Quantexa Trade AML Solution was also ranked for depth of typology coverage, breadth of analytical techniques and workflow.

Today’s Anti-money laundering efforts face many growing and unresolved challenges. In a digital and globalized world, criminals are using a wide range of strategies to be successful – making context a critical factor in the ability to accurately detect trade-based money laundering. By unifying internal and external data sources and scaling to understand billions of transactions, Quantexa’s Decision Intelligence Platform helps organizations create a holistic view of transactional, customer, and counterparty information. Quantexa’s approach to TBAML provides more accurate and efficient detection so organizations can reduce risk, assure compliance, and protect their reputation. Increased alert quality and automation, combined with reducing the volume of false positives helps organizations gain efficiencies and do more with the resources they already have.

Financial Crime Risk Management Systems: Entity Resolution
Quantexa’s dynamic Entity Resolution Solution capability that is a critical part of its industry leading Decision Intelligence Platform was recognized for coverage, scalability, data enrichment, depth and breadth of data sources supported.

Quantexa’s Entity Resolution Solution is an advanced data matching capability that connects disparate and ambiguous internal and external data at scale. Entity Resolution creates focused and complete views of people, organizations, places, and other data delivering game changing data quality and match rate accuracy. Quantexa also supports ‘dynamic entity resolution’, which gives unique flexibility across multiple use cases and informs granular and extensive security protocols.

Decision Intelligence Platform
Quantexa’s Decision Intelligence Platform gives enterprises the ability to unify their data by connecting siloed sources and systems, providing the context needed to visualize the complex relationships that enable previously hidden risk to be discovered. Quantexa’s unique entity resolution technology can connect the most disparate and ambiguous internal and external data at scale to create single, complete views of people, organizations, places, and other data with 99% accuracy, handling poor quality data with exceptional performance. The result is a single view of data that becomes their most trusted and reusable resource across the organization.

Chartis Chief Researcher Sidhartha Dash said:

“Quantexa’s increasingly mature solutions and their strong implementations in large financial institutions leveraging network-based concepts, drove their rise in the RiskTech 100 as well as their leadership in TBAML and Entity Management quadrants.”

Quantexa Chief Product Officer Dan Higgins added:

“Quantexa is delighted to be included in the RiskTech 100 report, positioned very strongly amongst an esteemed list of enterprise solution providers. At Quantexa, we are keenly aware that criminals are hiding in plain sight and that traditional monitoring systems and manual controls just can’t handle today’s complexity, scale of activity and the underlying regulatory shifts, in particular the focus on counterparty risk, as well as customers. The usage of contextual monitoring to detect and manage the holistic financial crime and fraud risks within International Trade, including the identification of prerequisites such as underlying collusion, the presence of shell companies and professional money laundering gatekeeps and enablers has been a defining factor in Quantexa’s success in this space.”

ABOUT QUANTEXA

Quantexa is a global data and analytics software company pioneering Contextual Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne, and Sydney. For more information, contact Quantexa here or follow us on LinkedIn.

ABOUT CHARTIS

Chartis is a research and advisory firm that provides technology and business advice to the global risk management industry. Chartis provides independent market intelligence regarding market dynamics, regulatory trends, technology trends, best practices, competitive landscapes, market sizes, expenditure priorities, and mergers and acquisitions. Chartis’ RiskTech Quadrant reports are written by experienced analysts with hands-on experience of selecting, developing, and implementing risk management systems for a variety of international companies in a range of industries, including banking, insurance, capital markets, energy, and the public sector.

Media Inquiries:

C: Laurel Case, VP, Fight or Flight

T: +1 315 663 6780

E: Quantexa@fightflight.co.uk

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: adamjaffe@quantexa.com
– or –
RapidResponse@quantexa.com

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Strengthening key power infrastructure in London while reducing carbon footprint

Zurich, Switzerland, Dec. 21, 2022 (GLOBE NEWSWIRE) — Hitachi Energy and Linxon are collaborating to strengthen London Power Tunnels (LPT), a key power infrastructure project that will ensure reliable, clean electricity supply for England’s capital city. To support National Grid in accelerating its net zero targets, Hitachi Energy will deliver EconiQ 420-kilovolt (kV) gas-insulated switchgear (GIS) and gas-insulated lines (GIL) containing no sulfur hexafluoride (SF₆).

As one of the world’s largest investor-owned transmission and distribution utilities, National Grid has the ambition to remove all SF₆ from its fleet by 2050. In 2020, it embarked on LPT project that will replace ageing high-voltage electricity cables and expand network capacity to meet the increasing electricity demand. Considered to be one of the city’s largest engineering projects since the 1960s, the LPT will span 32.5 kilometers via underground tunnels in South London.

Linxon is building Bengeworth Road substation for National Grid to develop the LPT infrastructure. To support National Grid in its transition to SF₆-free solutions, Hitachi Energy will deliver 7 bays of its EconiQ 420 kV GIS to enable the transmission of electricity over long distances while eliminating SF₆, in addition to EconiQ 420 kV GIL. The EconiQ high-voltage portfolio is 100 percent as reliable as the conventional solutions based on SF₆. The installation is expected to commence by 2023.

“We’re delighted that Bengeworth Road substation, at the heart of London Power Tunnels, will be SF₆-free,” said Onur Aydemir, National Grid Project Director for London Power Tunnels. “This key power project will deliver a secure energy supply to the capital, and by using sustainable technology we are minimizing the environmental impact of our operations to support the transition to Net Zero.”

“Following the successful collaboration with National Grid on the world’s first replacement of SF₆ in existing high-voltage equipment and award-winning project in Richborough, UK, we are proud to be supporting National Grid again in its transition to SF₆-free solutions,” said Markus Heimbach, Managing Director of the High Voltage Products business at Hitachi Energy. “The EconiQ GIS is based on our breakthrough SF₆-free 420 kV circuit-breaker that demonstrates the reliability and scalability of the technology for the lowest carbon footprint.”

“Linxon is building the infrastructure to power the world with carbon free energy. Thanks to strong collaboration with Hitachi Energy, Linxon is able to provide the pioneering EconiQ SF₆-free solution from Hitachi Energy for the Bengeworth substation, supporting our client to meet their sustainability targets”, said Stefan Reisacher, CEO of Linxon.

EconiQ is Hitachi Energy’s eco-efficient portfolio for sustainability, where products, services and solutions are proven to deliver exceptional environmental performance. Hitachi Energy has placed sustainability at the heart of its purpose and is advancing a sustainable energy future for all.

About Hitachi Energy

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Linxon

Linxon commenced operations on September 1, 2018, undertaking turnkey electrical alternating current substation projects related to renewable and conventional power generation, power transmission and transportation solutions. Substations enable the efficient and reliable transmission and distribution of electricity. Within the substation, switchgear controls and protects the network from power outages and facilitates reliable electricity supply. (https://linxon.com/)

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• London

Jocelyn Chang
Hitachi Energy
+41793847775
jocelyn.chang@hitachienergy.com

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