Celent’s Report Highlights Azentio’s AML Transaction Monitoring Capabilities
The Singapore-headquartered company has earned the ‘Noteworthy Solution’ recognition for its AML Transaction Monitoring in Celent’s recent report: Financial Crime Compliance Technology: AML Transaction Monitoring Edition – 2023.
Celent, a reputable research and advisory firm focusing on financial technology, assessed the capabilities of AML transaction monitoring systems worldwide, aiming to provide valuable insights to financial institutions and regulated companies.
Azentio’s ONEBanking Risk & Analytics Platform Shines
The ‘Noteworthy Solution’ recognition bestowed upon Azentio comes as a result of the remarkable capabilities and effectiveness of its flagship platform, ONEBanking Risk & Analytics.
This platform is currently trusted by over 100 financial institutions across the globe for its advanced analytical and investigative tools that convert routine data into actionable intelligence, empowering institutions to detect and combat potential fraudulent activities.
Advanced Technology, Breadth of Functionality, and Customer Base & Support
Celent’s report utilized the ABC methodology to evaluate AML transaction monitoring systems on three key dimensions: Advanced Technology, Breadth of Functionality, and Customer Base & Support.
Azentio’s ONEBanking Risk & Analytics excelled in all three aspects, showcasing its prowess as a cutting-edge, domain-agnostic platform that leverages machine learning-based predictive analytics. This allows it to efficiently identify suspicious activities at both the transaction and customer levels, bolstering the transaction monitoring processes.
Empowering Financial Institutions
Azentio’s platform, founded on a microservices architecture, robustly and agilely analyzes vast volumes of data, identifying fraudulent activity patterns in a timely manner for financial institutions.
It incorporates profile deviations and pre-defined rules to detect suspicious transactions, a graphical link analysis module to identify both static and transactional links between entities, and a remittance module to monitor online payment transactions.
Acclaim from Industry Experts
Neil Katkov, Ph.D., The director of Risk at Celent and one of the report’s authors praised Azentio’s AML Transaction Monitoring solution for its price performance, machine learning-enabled detection, extensive rules library, network analysis capabilities, and regulatory reporting functionalities across multiple jurisdictions.
Furthermore, Azentio’s implementation and support capabilities received high ratings from the company’s satisfied clients.
Azentio’s Commitment to Innovation
L Guru Raghavendran, Senior Vice President, Banking & Capital Markets at Azentio Software, expressed pride in the recognition received from Celent. He emphasized the significance of robust and agile technology platforms in meeting today’s complex transaction monitoring requirements.
The continuous investment in the financial crime management solution by Azentio ensures that clients benefit from cutting-edge features, including business intelligence and machine learning, driving customer satisfaction and business growth.
A Comprehensive Report
Authored by Neil Katkov and Ian Watson, Celent’s report provides in-depth profiles of 17 incumbent and new entrant providers of behavior detection solutions.
It includes a detailed analysis of the software products, key features, analytics, selling, and servicing details, offering valuable insights to financial institutions seeking top-tier AML transaction monitoring solutions.
Azentio Software’s achievement of being recognized as a ‘Noteworthy Solution’ in Celent’s Technical Capabilities Matrix reaffirms the company’s commitment to innovation and excellence in the field of financial crime compliance technology.
With its ONEBanking Risk & Analytics platform earning accolades from industry experts, Azentio continues to empower financial institutions worldwide in their ongoing efforts to combat financial crimes and safeguard their customers’ interests.