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BAE Systems awarded “Category Leader” status in the 2018 Chartis Enterprise Fraud Risk Management Systems Report

BAE Systems awarded Category Leader status in the 2018 Chrtis Enterprise Fraud Risk Management Systems Report
The distinguished and independent provider of research and analysis for risk technology has recognised BAE Systems as a category leader in the enterprise fraud space.
BAE Systems has achieved “Category Leader” status in the Chartis Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018 report. The report sees BAE Systems develop its position and market potential among leading vendors of enterprise fraud solutions, and achieve a high score for “Internal Fraud Analytics”, alongside breadth of functionality, technology and content and a clear strategy for growth.
 
The report uses Chartis’ RiskTech Quadrant to establish the structure of the current market, applying independent research and a sophisticated scoring system to explore which technology solutions best meet an organisation’s needs.
 
To achieve “Category Leader” status in Chartis’ anti-fraud analysis, vendors are expected to offer best-in-class solutions whilst combining depth and breadth of functionality, technology and content.
 
Neal Watkins, Chief Product Officer at BAE Systems said:
“This year’s quadrant sees BAE Systems score three stars for internal fraud analytics, acknowledging our advanced capabilities and core financial crime strength. Fraud is one of the fastest growing crimes impacting the general public. It is digitally enabled, becoming more sophisticated and the velocity of losses is growing. With the most advanced tools in place like BAE Systems NetReveal, illegal activity can be detected far more efficiently and effectively, protecting citizens.”
 
Rob Stubbs, Head of Research at Chartis Research, said:
“Since we last analysed the market, organisations are becoming increasingly reliant on high-level integrated technologies, as well as automation to deal with huge volumes of data. Vendors with deep risk libraries and powerful case management systems continue to dominate within the market.
 
“Today, nearly all fraud prevention is partially cyber-enabled, and BAE Systems’ technical functions and analytical capabilities are reflected in its quadrant positioning.”
 
The full Chartis Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018 report can be found here: https://www.chartis-research.com/financial-crime/financial-crime-risk-management-systems-enterprise-fraud-10611
 
NetReveal from BAE Systems is a single financial crime platform used by global enterprises to: 
  • Detect and prevent fraud and financial crime at point of application and throughout the customer life cycle
  • Identify threats in real-time and batch to minimise the potential risk to your organisation
  • Creates profiles based on specific entity and peer group analysis, behavioural analysis and risk analysis
  • A proven combination of predictive analytics and machine learning to uncover unusual or suspicious behaviour 
  • Checks watchlist to ensure that sanctioned individuals are detected
  • Includes a comprehensive and flexible case management and investigation toolset
 
For more information regarding BAE Systems fraud detection and prevention solutions, visit: https://www.baesystems.com/fraud
 
 
ENDS
 
For further information, please contact:
BAE Systems
Nick Haigh, BAE Systems
M: +44 (0) 7525 390982
E: nick.haigh@baesystems.com
 
Bite 
Bryony Alymer, Bite 
M: +44 (0) 7551 008666
E: bryony.alymer@biteglobal.com
 
Notes for Editors
 
About BAE Systems
At BAE Systems, we provide some of the world’s most advanced technology defence, aerospace and security solutions. We employ a skilled workforce of 82,500 people in over 40 countries. Working with customers and local partners, our products and services deliver military capability, protect people and national security, and keep critical information and infrastructure secure.
 
At BAE Systems Applied Intelligence, we help nations, governments and businesses around the world defend themselves against cybercrime, reduce their risk in the connected world, comply with regulation, and transform their operations. For further information about BAE Systems Applied Intelligence, please visit www.baesystems.com/businessdefence
 
About Chartis
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
 
Issued by:
BAE Systems plc
Media hotline: +44 (0) 7801 717739
@BAESystemsplc
Ref: 139/2018