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AZENTIO SOFTWARE RECOGNIZED FOR ITS AML TRANSACTION MONITORING SOLUTION

Transaction MonitoringAZENTIO SOFTWARE RECOGNIZED FOR ITS AML TRANSACTION MONITORING SOLUTION

Azentio Software, a Singapore-based technology company owned by funds and advised by Apax Partners, has been featured in the recently published Celent Matrix of Technical Capabilities. The matrix is part of the Financial Crime Compliance Technology: AML Transaction Monitoring Edition – 2023 report. Azentio’s AML transaction monitoring solution is categorized as a “remarkable solution” in the report.

Celent, the leading research and advisory firm specializing in technology for financial institutions, analyzed the capabilities of AML transaction monitoring systems from software providers worldwide. The report aims to help financial institutions and other regulated companies understand the vendor landscape and compare solutions. Celent evaluated the systems based on three dimensions: Advanced Technology, Functionality Scope, and Client and Customer Support.

Azentio’s recognition as a “remarkable solution” is attributed to the capabilities and efficiency of its Azentio ONEBanking Risk & Analytics platform, which is used by over 100 financial institutions globally. The platform, built on a microservices architecture, employs advanced analytics and investigation tools to transform data into actionable insights for detecting and countering potential fraudulent activities. It utilizes machine learning-based predictive analysis to easily identify suspicious activities at the transaction and customer levels.

The platform enhances transaction monitoring processes through profile gaps and predefined rules to identify suspicious transactions. It also includes a graphical link analysis module to identify static and transactional links between entities, as well as a payment module for monitoring online payment transactions.

Neil Katkov, PhD, Director of Risk at Celent and one of the authors of the report, commended Azentio for its AML transaction monitoring solution. He highlighted its cost-effectiveness, machine learning-enabled detection, extensive rule library, network analysis capabilities, and regulatory reporting in various jurisdictions. He also praised Azentio’s implementation and support capabilities, which are highly valued by its clients.

L Guru Raghavendran, Senior Vice President of Banking and Capital Markets at Azentio Software, emphasized the importance of robust and flexible technological platforms in meeting the complex requirements of transaction monitoring. He stated that Azentio is committed to investing significantly in its financial crime management solution to provide features such as business intelligence and machine learning while ensuring customer satisfaction and business growth.

The Celent report, authored by Neil Katkov and Ian Watson, provides profiles of 17 historical and new solution providers for behavior detection. It also includes Celent’s analysis of software products, key features and analyses, as well as sales and service details.

Story from claycountyregister.com

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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