- Quantexa's growing presence in Singapore represents significant investment in delivering AI-enabled Decision Intelligence (DI) solutions to Enterprises and Government Agencies across Asia Pacific
- Quantexa has seen double-digit growth and tripled employee base in Asia Pacific region since Series D announcement in 2022
- The new location in Singapore reinforces Quantexa's global network and brings the company closer to its clients and partners in the region
SINGAPORE, Nov. 07, 2023, the global leader in Decision Intelligence(MBFC) in Singapore. The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa's Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia. Further expansion into Hong Kong is expected in 2024.
The organization's decision to set up its regional headquarters in Singapore was solidified by the country's commitment to attracting investment, talent, and technology. Establishing Quantexa's new office locally complements the government's Smart Nation initiativewhich outlines its plan to invest up to SGD500 million in Artificial Intelligence (AI) research and development.
Economic forecasts for Southeast Asia predict that it will remain one of the fastest growing regions for years to come. Additionally, over the past 12 months, Quantexa has seen significant demand in the region as local banks and government agencies put an increased emphasis on detecting and preventing financial crime as the number of large-scale money laundering operations in region have risen, costing victims abroad billions of dollars[1]. Recently, Singapore authorities have taken measures to ensure that financial institutions scrutinise monetary flows with city state managed assets valued at USD4 trillion[2].
Quantexa's regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its Decision Intelligence Platform in the banking, insurance and telecommunications industries, as well as the public sector. The opening comes after Quantexa recently completed its Series E Funding Roundled by GICSingapore, valuing the company north of $1.8 billion, and announcing a $155 million investment to fuel global artificial intelligenceadvancements.
Today, Quantexa will host an event to showcase local technology innovation and partnerships at The National Museum of Singapore. Quantexa CEO Vishal Marria will be joined by esteemed industry leaders from GIC, Singapore's Digital and Intelligence Service (DIS), and Standard Chartered Bank for a panel discussion on "Charting New Pathways for AI Innovation."
Vishal Marria, CEO and Founder, Quantexa, said:"Quantexa has seen 90% revenue growth and we have nearly tripled our team size in the Asia Pacific region since our Series D announcement. With today's announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region."
Choo Yong Cheen, Chief Investment Officer of Private Equity, GIC, said: "We are pleased to see Quantexa establish their new regional headquarters in Singapore as part of their expansion efforts in Asia. As Quantexa continues to benefit from increasing regulatory emphasis on compliance and demand for AI capabilities in data management, we remain confident in the company's growth potential."
Jinghua Guo, Chief Digitization Officer, The Digital and Intelligence Service, added: "The Digital and Intelligence Service views AI as a mission-critical capability for the Singapore Armed Forces to safeguard the sovereignty and security of Singapore. We have always worked closely with other technology partners in government to build cutting-edge AI capabilities for defence. But beyond this, we need to harness the rapid innovations from commercial companies as part of our AI portfolio to address our operational needs more effectively. Therefore, we are interested to further explore how cutting-edge solutions from technology leaders like Quantexa can help us succeed in our mission."
Sean Coppinger, CIO, Standard Chartered Bank, said: "We are thrilledthat Quantexa is expanding itspresence here. Since 2018, we have worked closely with Quantexa to use AI-enabled data matching capabilities to get a complete view of our customers and their transaction networks. This has helped us raise the bar on how the industry detects fraud and fights financial crime."
The Singapore Headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.
Quantexa's Asia Pacific team is expanding and is actively recruiting several open positions. To find out more about current vacancies, visit this page.
Note to Editors:
For more information on Quantexa, please visit the website here.
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About Quantexa
Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa's Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 675 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.
About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long- term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,100 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sgor follow on LinkedIn.
[1] Source: Nikkei Asia article - Singapore stands out as a global tech hub amid U.S.-China tensions
[2] Source: South China Morning Post article - Singapore readies roll out of anti-money-laundering platform to prevent a 1MDB repeat
