NEW YORK, NY -- (Marketwired) -- 05/23/13 -- BAE Systems Detica today announces that its Detica NetReveal® solution has been positioned a Category Leader in the Enterprise Fraud Management Solutions 2013 RiskTech Quadrant(1) from Chartis.
Financial crime is a growing area of concern for financial institutions with new threats continuously emerging. The rise of mobile and internet channels coupled with the harsh economic climate means that fraud is on the increase. But advances in technology mean that organisations are less likely to write off fraud as the cost of doing business.
The Enterprise Fraud Management Solutions for Financial Services 2013 report covers the competitive landscape for enterprise fraud management solutions for financial services organisations. It recognises that organisations need to make best use of technology to support effective anti-fraud strategies.
Peyman Mestchian, Managing Partner, Chartis, said:
"It is critical that financial institutions deploy technology offering advanced analytics systems that can be integrated with other key risk and financial crime solutions, operational risk and customer intelligence. Detica NetReveal offers a powerful combination of social network analytics, entity and predictive analytics, alert and case management in an enterprise fraud management solution. This coupled with a proven track record with a number of Tier 1 financial organisations meant that it was named a Category Leader."
Detica NetReveal is an end-to-end risk, fraud and compliance solution with an international capability suited to global and group-wide deployment for financial institutions and governments worldwide. It uses statistical and analytical techniques to identify patterns of unusual and suspicious behaviours hidden within a company's data.
Chris Green, Managing Director NetReveal, BAE Systems Detica, commented:
"Financial services continues to be an exciting growth sector as organisations develop new products in response to the proliferation of mobile channels. Fraudsters are equally as inventive so the fight against financial crime never stands still. As Detica NetReveal continues to gain industry accolades from respected organisations such as Chartis Research, we are increasingly being recognised as a leading enterprise technology partner for countering financial crime."
Note to editor:
(1) The report uses Chartis's RiskTech Quadrant to explain the structure of the market. The RiskTech Quadrant uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organisation's needs. The RiskTech Quadrant does not simply describe one technology solution as the best enterprise fraud solution; it has a sophisticated ranking methodology to explain which solutions would be best for specific buyers.
About Detica NetReveal
Detica NetReveal is a leading provider of risk, fraud and compliance solutions to a wide range of financial services and government clients across the globe. The NetReveal suite of solutions combines predictive analytics with advanced social network analysis to identify suspicious behaviours more accurately than other solutions.
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