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BAE Systems Detica today announced that its Detica NetReveal® solution has been named winner of the Fraud and Financial Crime Software Award 2013 by Operational Risk & Regulation magazine. Winners were selected by OpRisk’s editorial staff on the basis of discussions with industry participants.
The Operational Risk & Regulation Awards aim to recognize excellence in operational risk management across the financial sector and reward those companies and individuals that have demonstrated innovative thinking and provided useful solutions to the operational risk management challenges faced by the financial industry.
Alexander Campbell, Editor, Operational Risk & Regulation, said: “The signals of fraud are often hidden in a torrent of innocent transaction or interaction data. This year's fraud and financial crime software award recognizes the value of Detica NetReveal in addressing this problem through analyzing patterns and links in disparate data sets to identify activity ranging from insurance fraud to rogue trading.”
Operational Risk & Regulation is recognized as the leading publication for operational risk professionals in financial services across the globe. In print for more than 10 years, the magazine provides heads of operational risk and operational risk managers with information about cutting edge approaches to modeling, mitigating and managing the risks they face. Operational Risk & Regulation is part of the RISK Publications family of magazines, digital information services, events and training.
Detica NetReveal is a highly-scalable risk, fraud and compliance solution with an international capability suited to global and group-wide deployment for financial institutions and governments world-wide. It uses statistical and analytical techniques to identify patterns of unusual and suspicious behaviors hidden within a company’s data. The solution provides a single view of customers and their known associates across an organization’s entire portfolio of products and brands.
Chris Green, Managing Director NetReveal, BAE Systems Detica, commented:
“Detica NetReveal is playing an increasingly critical role in countering financial crime word-wide. This award is further industry validation that leading edge technologies such as Detica NetReveal really do help financial institutions and government organisations across the globe put a torpedo in the side of organized criminal activities and effectively detect and prevent fraud.”
