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PRNewswire
Singapore, July 26: Azentio Software ("Azentio"), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has been featured in Celent's recently published Technical Capabilities Matrix, a part of the report, Financial Crime Compliance Technology: AML Transaction Monitoring Edition 2023. Azentio's AML Transaction Monitoring has been identified under the 'Noteworthy Solution' category in the report published by Celent, the leading research and advisory firm focused on technology for financial institutions. A Powerful Acknowledgment in Analyst's Financial Crime Compliance Technology: AML Transaction Monitoring Edition 2023. The report analyzes the capabilities of AML transaction monitoring systems of software providers worldwide, to support the evolving technology requirements of financial institutions. It aims at helping them and other regulated companies better understand the vendor landscape and compare providers' solutions, and is based on Celent's ABC methodology to position systems across three dimensions, namely, Advanced Technology, Breadth of Functionality, and Customer Base & Support. The 'Noteworthy Solution' recognition by Celent came on account of the capabilities and effectiveness of theAzentioONEBanking Risk & Analyticsplatform, which is used by over 100 financial institutions across the globe. Based on a microservices architecture, the domain-agnostic platform uses advanced analytical and investigative tools that transform routine data into actionable intelligence to detect and counter potential fraudulent activities. It leverages machine learning-based predictive analytics to help easily identify suspicious activities at both the transaction and customer levels. It enhances the transaction monitoring processes with its profile deviations and pre-defined rules to identify suspicious transactions; graphical link analysis module to identify both static and transactional links between entities; and a remittance module to monitor online payment transactions. Complimenting Azentio on the recognition,Neil Katkov, PhD, Director Risk at Celent,and also one of the authors of the report, said, "Azentio's AML Transaction Monitoring solution offers price performance, machine learning-enabled detection, a large rules library, network analysis, and regulatory reporting capabilities across many jurisdictions. Azentio'simplementation and support capabilities in particular are rated highly by Azentio's clients." L Guru Raghavendran, Senior Vice President, Banking & Capital Markets at Azentio Software,stated, "Today's complex transaction monitoring requirements call for robust and exceptionally agile technology platforms that are critical in helping financial institutions analyse large volumes of data to identify fraudulent activity patterns well in advance. Azentio has been investing significantly into its financial crime management solution to ensure features such as business intelligence and machine learning benefit our clients, while also driving customer satisfaction and business growth for them. In this context, it is an honour to recognise the strength of our AML solution in Celent's comprehensively researched and acclaimed transaction monitoring technology report." The report, authored by Neil Katkov and Ian Watson, features profiles of 17 incumbent and new entrant providers of behavior detection solutions, and includes Celent's analysis of the software products, key features and analytics, selling and servicing details. Logo:https://mma.prnewswire.com/media/1978771/Azentio_Logo.jpg (Disclaimer: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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