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Quantifind’s Graphyte Platform Optimizes Varo’s KYC-AML Programs by Prioritizing the Highest Risks

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The online risk screening and investigation platform provider, Quantifind, announced Varo Bank, as a new client of the company. Varo is a new kind of bank: a completely digital institution, designed for customers’ lifestyle, FDIC backed, and all-digital. Varo will utilize Quantifind’s Graphyte platform to optimize the performance and productivity of its EDD and AML initiatives using AI-powered risk assessments and investigation tools.

Ari Tuchman, CEO, and Co-Founder of Quantifind said, “Varo is an incredibly innovative and forward-looking organization, which makes having them as a customer even more gratifying. We are well-aligned on our vision of the future of compliance and the role that adverse media can play in making banking more accessible to lawful customers.”

Data science and artificial intelligence (AI) are used by Graphyte to detect and analyze signals associated with risk in thousands of watchlists and media sources. With APIs, banks can automatically prioritize which transactions and customers pose the highest risk so that they can integrate timely media adverse information into their monitoring processes. To manage their review and reporting processes more efficiently, AML analysts use Graphyte’s investigation applications.

Prav Chandrasekaran, BSA Officer at Varo, commented, “The performance of the Quantifind platform is remarkable in terms of its ability to provide accurate and complete results in a way that facilitates our analysts’ work and can scale with our growth. In selecting Quantifind we feel we can fully leverage AI and Open-Source data as well as bring consistency to our processes, maximizing the performance of our AML programs.”

In addition, Quantifind has accumulated over a decade of experience in machine learning (ML), natural language processing (NLP), risk modeling, name science, and entity resolution, and it is helping several large financial institutions and the public sector agencies fight crime. Its success can be attributed to its ability to combine science and design, machine learning innovations in web applications, and APIs with intuitive design.

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