Case Study: OFX achieves smarter financial crime detection with Quantexa

Innovating the global money transfer industry with smart analytics and AI to prevent financial crime

OFX, a global money transfer company, needed a better way to detect financial crime and maintain transparency as transaction volumes grew rapidly. The challenge was to reduce noisy alerts and help its investigation team focus on the highest-quality cases, especially during periods of record trading activity.

Looker helped OFX by supporting an advanced contextual monitoring solution built with Quantexa’s CDI platform on Google Cloud. The result was fewer, more meaningful alerts, faster triage, and the ability to keep transactions moving safely even during the COVID-19 volume surge; the system also helped OFX identify a customer using an individual account for business activity and onboard them correctly.

OFX

Mark Shaw

COO