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.
The power of our approach lies in the combination of specialist industry expertise with proven technology. We provide our clients with intelligence to more accurately assess the risk of the individual by better understanding the risk associated with the networks in which they operate. With over 130 clients across five continents, including six of the world's current top 10 financial institutions, Detica NetReveal has a proven track record of tackling fraud, improving operational intelligence and reducing financial losses and reputational risk. Detica NetReveal, incorporating Norkom Technologies, is a business division of BAE Systems Detica.
For further information, please visit www.deticanetreveal.com
About BAE Systems Detica
BAE Systems Detica delivers information intelligence solutions to government and commercial customers. We help them collect, exploit and manage data so they can deliver critical business services more effectively and economically. We also develop solutions to strengthen national security and resilience.
We integrate and deliver world-class solutions to our customers' most complex operational problems -- often applying our own unique intellectual property. Our services include cyber security, managing risk and compliance, data analytics, systems integration and managed services, strategy and business change and the development of innovative software and hardware technologies.
Detica is part of BAE Systems, a global defence and security company with over 90,000 employees worldwide. BAE Systems delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. For more information, please visit www.baesystems.com
BAE SYSTEMS, DETICA, NETREVEAL are registered trade marks of BAE Systems plc.
Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. See www.chartis-research.com.
RiskTech Quadrant is a registered trademark of Chartis Research Limited.
Chartis Research is authorized and regulated by the Financial Conduct Authority (FCA) for providing investment advice.
Global Head of Media, BAE Systems Detica
Tel: +44 (0)20 7812 4274
Mobile: +44 (0)7787 297 831
Rosemarie Esposito, Articulate Communications Inc.
on behalf of BAE Systems Detica
Tel: +1 212 255 0080, ext. 20
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