Three-year, multi-million-pound partnership will connect fragmented data to expose money laundering, phoenixing and legacy COVID loan fraud, with control staying in the agency's hands
- Quantexa's three-year contract will unify Insolvency Service data into a single, contextual view of people, companies, addresses and transactions
- Investigators will use the platform to dismantle high-street cash-front money laundering, stop serial business phoenixing and clear legacy COVID loan fraud cases
- The Insolvency Service keeps sovereign control of its data, technology and decisions, with explainable scoring and full audit trails behind every insight
LONDON, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Quantexa, the global data, analytics and AI software company pioneering Decision Intelligence, has been selected by the Insolvency Service for a multi-million-pound, three-year partnership. It will give the agency's investigators a trusted, sovereign data and AI foundation to investigate financial wrongdoing, protect the public purse and support confidence in the UK economy.
Capabilities within Quantexa Decision Intelligence Platform, Entity Resolution and Knowledge Graph, will bring together data the service holds on people, companies, addresses and transactions, and reveal the relationships between them. That context will help investigators uncover the networks behind high-street businesses laundering money, COVID loan abuse, and phoenixing, where a business is deliberately abandoned to evade debts or taxes before setting up a new entity.
The scale of the challenge is significant. More than £4 billion was lost to COVID support scheme fraud, and thousands of legacy loan cases remain to be worked through. Manual investigation alone would take years. Quantexa's platform adds a context layer and advanced automation to surface hidden connections and prioritise the highest-risk targets. Human investigators remain in control to review insights, weigh context, and make every enforcement decision.
Duncan Beach, Chief Executive of the Insolvency Service, said: "Our recently published strategy makes it very clear that in this rapidly changing world, we need to modernise the work of the Insolvency Service, and a big part of that is moving more quickly, thinking bigger and making better use of intelligence, data and technology.
"So, I'm delighted that we've signed this agreement with Quantexa. It means that our skilled investigators will be able to use technology to find the hidden links between cases much more quickly than they could do alone. That means we will be able to combat misconduct much more effectively and bring to justice those who seek to subvert the law."
Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, added: "Financial misconduct harms employees, creditors, legitimate businesses and taxpayers. For more than 140 years, the Insolvency Service has protected the UK economy, and tackling increasingly sophisticated fraud means continuing to adapt. Using AI to find the hidden links between the data we already have will help our investigators to use their expertise where it has the greatest impact, while sensitive information will always stay under our control and decisions remain accountable, explainable and grounded in evidence."
Sovereignty is built into the partnership. The Insolvency Service retains oversight of how its information is used and how insights are generated. Explainable scoring, source provenance and audit trails give a traceable route from every insight to decision and back to the evidence behind it.
Vishal Marria, CEO and Founder, Quantexa, said: "Criminals who abuse company law and incorporation rely on information being hard to piece together. By connecting fragmented internal and external data into a real-world trusted data and context foundation, we're helping the Insolvency Service see the full picture and act with confidence. Doing it in a sovereign way keeps control, governance and accountability with the agency, so every insight can be trusted and every decision defended. We are proud to have been selected and look forward to partnering with INSS to fight organised crime."
The award marks another step in Quantexa's growing momentum across the UK public sector, as government invests in sovereign, trusted data foundations for AI and seeks greater control over strategically important technology. In May 2026, HM Revenue and Customs awarded Quantexa a £175 million, ten-year partnership to modernise its data foundation and enable sovereign, governed AI at national scale.
Quantexa works with public sector organisations around the world on fraud, risk, compliance and data modernisation. To learn more, visit https://www.quantexa.com/industries/public-sector/.
About Quantexa
Quantexa is a global data, analytics, and AI software company pioneering Decision Intelligence to help organizations make confident decisions with contextual data. Using the latest advancements in AI, our Decision Intelligence Platform transforms siloed data into connected, contextual insights to empower the shift from a data-driven to a decision-centric organization. Our customers use Quantexa technology to protect, optimize, and grow by solving complex challenges across the entire organization through modern data management, customer intelligence, KYC, financial and economic crime, risk, fraud, and security. The company has been named as a Decision Intelligence category and innovation leader by all of the major industry analyst firms. Founded in 2016, Quantexa has over 850 employees and tens of thousands of users globally, working with billions of data points across the world. For more information, visit www.quantexa.com or follow us on LinkedIn.
About The Insolvency Service
The Insolvency Service is a government agency that helps to deliver economic confidence by supporting those in financial distress, tackling financial wrongdoing and maximising returns to creditors.
The Insolvency Service is an executive agency, sponsored by the Department for Business, Innovation, Science and Trade.
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Quantexa
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SourceCode Communications
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