Quantifind forms a contract with the US’ Department of Defense

Quantifind forms a contract with the US’ Department of Defense

Quantifind, a SaaS platform designed to automate financial crimes investigations and screening, has formed a deal with the Defense Innovation Unit (DIU) within the U.S. Department of Defense.

Through this contract, Quantifind hopes it will accelerate the development of its risk assessment capabilities beyond financial crimes. It also hopes to fund the development of its knowledge graph technology to link vast amounts of complex structured and unstructured data into a single integrated framework.

The RegTech’s GraphyteSearch product responses to name queries in real-time with identity match confidence levels and signals of risk, including money laundering and fraud.

Its new graph designed with the DIU will pre-compute entity links, relationships, metadata and risks into a single schema, unifying data sets as structured corporate registrations and unstructured text from news articles, it said.

This will automate the production of insights to populate the intelligence collection funnel with alerts based on graph algorithms. These include pathfinding, network identification and anomaly detection.

Quantifind co-founder and public sector projects lead John Stockton said, “Having established Quantifind’s technology in the banking world, we’re excited to partner with DIU to address the government vertical.

“Fighting malign activity has always been a joint public and private effort, so we think of this initiative as a natural extension of our prior work, and we anticipate significant development alignment between the verticals.

“Our platform can be quickly configured for defence and law enforcement use cases with customized data sets and risks, and the graph technology that we are building will unlock much more powerful versions of what we do today, resulting in ‘forest versus trees’ types of insights.”

Quantifind recently closed a $22m funding round to support its growth and sales efforts.