Quantifind's AI Platform Offers Significant Cost Savings for Banks

Quantifind has announced findings from a study by Celent, indicating Tier 1 banks could save up to $177.9 million annually by using Quantifind's Graphyte platform. The savings stem from reducing false positives in Know Your Customer (KYC) and sanctions screening processes.

Celent's analysis suggests Quantifind's AI-driven system can decrease alert volumes by 80–90%. This reduction allows compliance teams to focus on actual high-risk activities. The study also predicts savings for Tier 2 and Tier 3 banks, with $42.5 million and $3.4 million respectively.

The report highlights the potential for further efficiencies in areas like transaction monitoring and perpetual KYC. Quantifind plans to enhance their platform with agentic AI, automating low-risk tasks and extending efficiency beyond current capabilities.