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Stock impact report

Cathay Bank Selects QuantaVerse AI Financial Crime Solutions to Create a More Effective AML Program

Cathay General Bancorp (CATY) 
Last cathay general bancorp earnings: 4/27 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: cathaybank.com/cathay-general/home
Company Research Source: PR Web
WAYNE, Pa. (PRWEB) November 27, 2018 QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced it has signed an agreement with Cathay General Bancorp, a holding company for Cathay Bank, a California state-charted bank. Cathay Bank selected QuantaVerse's AI financial crime solutions as a fully built and tested anti-money laundering (AML) platform to reduce costly, manual financial crime investigations.Cathay Bank will deploy the following QuantaVerse solutions to improve the effectiveness of its AML compliance program and financial crime investigations while expanding its correspondent banking services. QuantaVerse Pre-TMS Entity Resolution & Risk Scoring (TM) reduces transaction monitoring system (TMS) false positive alerts by classifying the risk of each transacting party, down to the pseudo-client level. In the vast majority of transaction messages, who the transacting parties are is often ambig Show less Read more
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