LONDON, 28th November 2022: Financial crime compliance risk and payments solutions provider, Eastnets, has been named as multiple category leader in the Chartis Research “Financial Crime Risk Management Systems: Watchlist Screening and Monitoring Solutions, 2022, Vendor Landscape (Part II)” report.
It received the leader rating in all three of the Chartis Research RiskTech Quadrants® for Name Screening, Transaction Screening, and Transaction Monitoring.
Eastnets also received a “best-in-class” score for Transaction Screening for data methodology underlying the strength of its data platform and artificial intelligence (AI) data analytics-driven solution.
There are two Eastnets solutions covered by the report. The first is SafeWatch Screening, which includes the industry-pioneering ChainFeedTM product based on blockchain technology. This provides a secure encrypted solution with Real Time List Loading (RTLL) to update sanction lists automatically, with zero downtime, eliminating human errors and the risk of cyber threats. SafeWatch Screening includes advanced algorithm and detection engine including fuzzy matching logic with features to reduce false positives. Together with its advanced analytics and business intelligence-driven dashboards provides powerful compliance insights.
The second solution assessed is SafeWatch AML, which includes advanced AI and machine learning capabilities. It offers AI-driven transaction and relationship analytics to create risk scores and identify anomalous behaviors. Unsupervised AI models optimize and calibrate alerts, significantly reducing false positives. It also includes an Investigator Tool, using graphing technology to connect relationships providing context to suspicious transactions.
The report includes a highly competitive field of 24 vendors with Eastnets scoring strongly across the board. Chartis Research, part of Infopro Digital, is a leading provider of research and analysis on the global market for risk technology.
Commenting on the report’s findings, Nick Vitchev, Research Director at Chartis, said, “Eastnets’ strong, well-packaged set of solutions, combined with its expanding presence across the broad market spectrum, is reflected in its category leader rating for name screening, transaction screening, and transaction monitoring. The company has grown into a truly global player in this area, with significant market gains; in our analysis, we also recognized the technical capability of its solutions across the space.”
Saeed Patel, Group Director of Product Development Management at Eastnets added, “2022 has seen an unprecedented level of regulatory change with growing demand by financial institutions to manage regulatory risk in real-time. At Eastnets, we strive to raise the bar in customer excellence through providing innovative solutions. We are delighted to be recognized as a leader in all categories in this Chartis report. We’re dedicated to helping financial institutions to be safe and to deliver business benefits over and above regulatory obligations.”
About Chartis
Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. The goal of Chartis Research is to support enterprises as they drive business performance through improved risk management, corporate governance, and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100®, and FinTech QuadrantTM are registered trademarks of Infopro Digital Services Limited (http://www.chartis-research.com).
About Eastnets
Eastnets is a global provider of compliance and payment solutions for the financial services sector. Its experience and expertise help ensure trust at 800 financial institutions across the world, including 11 of the top 50 banks. For more than 35 years, Eastnets has worked to keep the world safe and secure from financial crime. It does so by helping its partners manage risk through screening, monitoring, analysis, and reporting, plus state-of-the-art consultancy and customer support.
As specialists in end-to-end payment systems, Eastnets turns payment challenges into opportunities, helping financial Institutions operate more efficiently and cost-effectively. That includes more than 270 corporate and financial institutions that rely on the business for outsourced SWIFT connectivity and compliance software solutions.
Further information
eastnets@fivenot10.co.uk
jana.caveayland@fivenot10.co.uk +44 7495873434
patrick.southwell@fivenot10.co.uk +44 7780 784 819
It received the leader rating in all three of the Chartis Research RiskTech Quadrants® for Name Screening, Transaction Screening, and Transaction Monitoring.
Eastnets also received a “best-in-class” score for Transaction Screening for data methodology underlying the strength of its data platform and artificial intelligence (AI) data analytics-driven solution.
There are two Eastnets solutions covered by the report. The first is SafeWatch Screening, which includes the industry-pioneering ChainFeedTM product based on blockchain technology. This provides a secure encrypted solution with Real Time List Loading (RTLL) to update sanction lists automatically, with zero downtime, eliminating human errors and the risk of cyber threats. SafeWatch Screening includes advanced algorithm and detection engine including fuzzy matching logic with features to reduce false positives. Together with its advanced analytics and business intelligence-driven dashboards provides powerful compliance insights.
The second solution assessed is SafeWatch AML, which includes advanced AI and machine learning capabilities. It offers AI-driven transaction and relationship analytics to create risk scores and identify anomalous behaviors. Unsupervised AI models optimize and calibrate alerts, significantly reducing false positives. It also includes an Investigator Tool, using graphing technology to connect relationships providing context to suspicious transactions.
The report includes a highly competitive field of 24 vendors with Eastnets scoring strongly across the board. Chartis Research, part of Infopro Digital, is a leading provider of research and analysis on the global market for risk technology.
Commenting on the report’s findings, Nick Vitchev, Research Director at Chartis, said, “Eastnets’ strong, well-packaged set of solutions, combined with its expanding presence across the broad market spectrum, is reflected in its category leader rating for name screening, transaction screening, and transaction monitoring. The company has grown into a truly global player in this area, with significant market gains; in our analysis, we also recognized the technical capability of its solutions across the space.”
Saeed Patel, Group Director of Product Development Management at Eastnets added, “2022 has seen an unprecedented level of regulatory change with growing demand by financial institutions to manage regulatory risk in real-time. At Eastnets, we strive to raise the bar in customer excellence through providing innovative solutions. We are delighted to be recognized as a leader in all categories in this Chartis report. We’re dedicated to helping financial institutions to be safe and to deliver business benefits over and above regulatory obligations.”
About Chartis
Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. The goal of Chartis Research is to support enterprises as they drive business performance through improved risk management, corporate governance, and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100®, and FinTech QuadrantTM are registered trademarks of Infopro Digital Services Limited (http://www.chartis-research.com).
About Eastnets
Eastnets is a global provider of compliance and payment solutions for the financial services sector. Its experience and expertise help ensure trust at 800 financial institutions across the world, including 11 of the top 50 banks. For more than 35 years, Eastnets has worked to keep the world safe and secure from financial crime. It does so by helping its partners manage risk through screening, monitoring, analysis, and reporting, plus state-of-the-art consultancy and customer support.
As specialists in end-to-end payment systems, Eastnets turns payment challenges into opportunities, helping financial Institutions operate more efficiently and cost-effectively. That includes more than 270 corporate and financial institutions that rely on the business for outsourced SWIFT connectivity and compliance software solutions.
Further information
eastnets@fivenot10.co.uk
jana.caveayland@fivenot10.co.uk +44 7495873434
patrick.southwell@fivenot10.co.uk +44 7780 784 819
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