07 June 2016
CustomerXPs, a leading provider of real-time financial crime, risk and compliance software for the global banking sector announced today that it has been recognized as an Enterprise Solution in the Chartis RiskTech Quadrant® for Enterprise Fraud Technology contained in the annual 2016 Financial Crime Risk Management report. The RiskTech Quadrant® measures vendors' completeness of offering and market potential attributes. Chartis provides research and analysis on the global market for risk management technology.
According to Chartis, financial crime risk management (FCRM) remains an area of significant growth, with global IT expenditure predicted to increase throughout 2016 and beyond. Expansion is being driven by two factors: a tightening regulatory environment where sanctions, money laundering, transaction monitoring and KYC violations can lead to fines of billions of dollars. The second is a technological environment where potential fraudsters have been empowered by the anonymization, automation and dissemination of information technology, and where financial institutions are increasingly exposed on multiple fronts.
The report further adds- 'Enterprise solution providers have a clear strategy and vision for providing risk management technology platforms. They are characterized by the depth and breadth of their technology capabilities, combining functionally rich risk applications with comprehensive data management, risk analytics, and business intelligence technologies. A key differentiator is the openness and flexibility of their technology architecture and their "tool-kit" approach to risk analytics and reporting. Enterprise solution providers support their technology solutions with comprehensive infrastructure and service capabilities, ensuring best-in-class technology delivery. Moreover, enterprise solution providers have clear strategies for combining risk management content and data with their risk management software to provide an integrated "one-stop-shop" for risk technology buyers'.
"CustomerXPs has a clear strategy for providing financial crime risk management technology to banks across the globe. Their strong real-time fraud management capabilities coupled with comprehensive cross-channel & cross-product coverage ensured their position on the RiskTech Quadrant.", said Peyman Mestchian, Managing Partner at Chartis.
Rivi Varghese, CEO, CustomerXPs added: "CustomerXPs' unique Central nervous system approach ensures that banks now have a unified cross-channel, cross-pollinated & real-time enterprise fraud management system. Such a system brings to bear the entire collective wisdom in the short transaction window itself. Chartis recognizing CustomerXPs is a reflection of our massive customer success - incidentally we also have the world's largest implementation."
CustomerXPs is also ranked in Chartis RiskTech100® consistently since 2015, which is globally acknowledged as the most comprehensive study of the world's most significant risk and compliance technology companies.
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better 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 Chartis Research. www.chartis-research.com
Clari5 from CustomerXPs is a massively scalable cross channel, cross pollinated, real-time enterprise fraud management & revenue maximization solution for global banks. Clari5's differentiated approach deploys a central nervous system in banks with the ability to stop the transaction in real-time. Clari5 is a bolt on system, requires no replacement, and has a very short implementation cycle with extremely quick ROI. www.customerxps.com
© Press Release 2016