AML RightSource, a Cleveland-based provider of financial crime detection software, has acquired QuantaVerse Inc.
QuantaVerse, located in Wayne, Pennsylvania, uses “advanced data science to automate and improve financial crime identification, alert investigations, and the documentation of investigation results,” according to a news release.
David McLaughlin, founder and CEO of QuantaVerse, said the transition will help AML broadening its service offerings.
“Combining our technology solutions with AML RightSource’s global advisory and managed services offerings in an integrated deployment framework will enable customers to improve flexibility, scale, and regulatory compliance,” McLaughlin said in a statement.
Frank Ewing, CEO at AML RightSource, said that the acquisition of QuantaVerse will help the company improve client experience.
“Adding QuantaVerse will help us provide our clients improved ROI by eliminating noise and unproductive reviews through their nimble infrastructure which seamlessly integrates with in-place systems,” Ewing said in a statement. “It also accelerates our strategy to offer more tech-enabled services to support our clients.”
AML is backed by Gridiron Capital LLC, an investment firm.
