Quantifind, a software company providing solutions that boost the effectiveness and efficiency of anti-money laundering (AML) and fraud investigations, announces an expanded partnership with OpenCorporates – the largest open database of companies in the world.
Building on their existing partnership, Quantifind will now integrate the complete OpenCorporates database of more than 180 million companies from over 130 jurisdictions worldwide into their product offerings. The OpenCorporates data, layered with Quantifind’s intelligence, will be made available immediately through Quantifind’s software-as-a-service (SaaS) product offerings for AML, Customer Due Diligence (CDD)/Know Your Customer (KYC), and fraud risk mitigation.
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While OpenCorporates provides the most comprehensive and credible source of fully provenanced legal entity data worldwide, Quantifind differentiates with AI algorithms that connect entities and identify risks across data in the public domain. Together, the two organizations are now in a strong position to map out the global networks that have historically allowed would-be money launderers to obscure their sources of funds. In addition, this joint capability will immediately aid in the fight against pandemic-related financial fraud, such as business misrepresentation.
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“We are delighted to announce the expansion of our relationship with OpenCorporates,” says Adam Mulliken, SVP of Analytics and General Manager for Quantifind’s Financial Crimes business. “The timing could not be better, as we continue to see rising demand for timely, credible contextual data around business entities as fallout from pandemic-related fraud.”
“Our mission is to make the world’s company information open to all for public good,” says OpenCorporates’ CEO and Co-founder Chris Taggart. “We are delighted that Quantifind will utilize our data even more to further the fight against financial crime.”