Financial Crime - AML Transaction Monitoring


Detica NetReveal, a business unit of BAE Systems Detica, today announced that is has been  awarded the XCelent Award 2012 for breadth of functionality within its enterprise anti-money laundering (AML) and anti-fraud solutions in the new report by leading analyst house Celent titled Evaluating the Enterprise-wide Compliance Vendors – solutions for anti-money laundering and anti-fraud.

The three key criteria were that each system must have technology supporting at least three of the following four processes in the AML compliance chain: onboarding / customer

due diligence, watchlist filtering, transaction monitoring, and case management. Nominees also had to have at least two live AML customers in the financial services industry and provide references from at least two clients.

Detica NetReveal providesan end-to-end enterprise perspective of financial crime and risk for the detection, prevention and monitoring of risk, fraud and non-compliance.

Neil Katkov, Senior Vice President of Celent said:

“Detica NetReveal was selected as it provided a full suite of AML, anti-fraud, risk and intelligence capabilities with the greatest breadth of functionality. Celent has been behind the enterprise risk approach for ten years and this award recognises Detica NetReveal as a leading player in the field, supported by solid customer references”.

As financial institutions become increasingly concerned with fighting fraud committed by both customers and employees, Detica NetReveal is at the forefront of innovative technology with its unrivalled social network analytics that reveal previously undiscovered suspicious links in data, helping prevent fraudulent activity and deliver significant cost savings.

Imam Hoque, Managing Director of Detica NetReveal said:

“As fraudsters develop ever more cunning ways to avoid detection, we are stopping them in their tracks with our revolutionary technology which increasingly is being deployed by major financial institutions across the world. We help them to stay one step ahead of the criminals and safeguard the investments of their customers and this award recognises

Detica NetReveal's position as a leader in the financial fraud technology market.”

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About Detica NetReveal

Detica NetReveal is a leading provider of enterprise risk, fraud and compliance solutions to the global financial services industry and government clients. Its innovative solutions provide a holistic ‘single customer view’ and then combines entity and social network analytics with deep domain expertise.  This approach providesan end-to-end enterprise perspective of financial crime and risk for the detection, prevention and monitoring of risk, fraud and non-compliance in real-time and batch.  By knowing your customer, what kind of business they transact and who they know, Detica NetReveal can identify unusual and suspicious behaviours faster and earlier than any other current approaches.

With over 100 clients across four continents, including six of the world’s current top 10 financial institutions, Detica NetRevealhas established a proven track record of reducing financial losses, protecting users’ reputations and improving operational efficiencies. Detica NetReveal is a business division of BAE Systems Detica. In 2011, BAE Systems acquired Norkom Technologies and merged it with Detica NetReveal.

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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 help 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 just under 100,000 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.            

BAE SYSTEMS, DETICA, NETREVEAL, Detica NetReveal are trade marks of BAE Systems plc.