Grath currently supports global leaders such as Deutsche Bank, Freetrade, Winterflood Securities, and StepChange. With the new DIFC office, Grath aims to extend its reach and expertise to support more world-class clients in the Middle Eastern region, further strengthening its role as a trusted partner in the financial ecosystem.

The new office at DIFC will serve as a central hub for Grath’s operations in the Middle East, offering enhanced support and localized services to our growing base of customers. By establishing a presence in Dubai, Grath is poised to tap into the vibrant financial ecosystem and leverage the DIFC’s robust infrastructure, strategic location, and regulatory framework to drive growth and foster collaboration.

Matt Povey, CEO of Grath, expressed his enthusiasm for the expansion:

“We are thrilled to establish our presence in Dubai at the DIFC, a global financial center that embodies innovation and progress. This expansion aligns perfectly with our vision of global growth and reinforces our commitment to providing top-tier financial services and regulatory compliance technology to our clients. We look forward to the exciting opportunities this move will bring for both our company and our clients in the Middle East.”

Grath remains dedicated to its mission of delivering cutting-edge financial services and compliance technology, and the new DIFC office is a testament to the company’s ongoing commitment to growth, innovation, and regulatory excellence.

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Nominees are chosen by Products That Count’s product manager network, and winners are chosen by an independent Awards Advisory Board composed of top product leaders. This year’s Board included product leaders from companies like Bank of America, Amazon’s Twitch, and S&P Global.

Minerva is a real-time client risk and AML assessment platform that enables investigators to make accurate and high-quality risk decisions in just a few minutes. Using sophisticated deep learning models and neural networks to analyze billions of data points and sources in real-time across 147 languages, Minerva helps compliance teams get ahead of financial crime, prevent money laundering, and comply with government regulations. Artificial intelligence (AI) enables the automation of a manual process that could take hours or days, returning results 300 times faster and reducing costs by 55 percent. Minerva is trusted by leading financial institutions that require faster, more accurate risk assessment results.

“Great tools are the Product Manager’s secret weapon,” said SC Moatti, Founder and Board Chair of Products That Count, “essential for staying ahead in the competitive market landscape. I congratulate Minerva on defining product excellence in 2024 and beyond.”

“This award highlights the innovative approach we have taken to addressing risk assessment and ensuring AML compliance for financial institutions. Using AI, Minerva instantly understands context, sentiment, and risk across structured, unstructured, open source, and proprietary data, and uses those insights to create context rich customer profiles and predictive risk analysis, in real time,” said Jennifer Arnold, co-founder and CEO of Minerva. “Deep neural networks enable automation so that Minerva can provide ongoing monitoring, empowering continuous risk assessment.”

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 With eflow’s client base growing by 57% in the last year, the company has appointed Jonathan Dixon as Head of Trade Surveillance, who brings a wealth of specialist experience from Eventus, where he worked as Director of Regulatory Affairs (EMEA), as well as Kraken, Barclays and Accenture. Jonathan will oversee the strategic development of eflow’s trade surveillance solutions. 

 To drive expansion in the US, Boston-based Casey Stanley joins eflow as Sales Director and brings with him 20+ years of experience, including roles at S&P Global and Thomson Reuters. Equally, with 20+ years in B2B marketing, Sam Roberts will lead eflow’s global brand and promotional activity as Head of Marketing. 

 Over the last 12 months, eflow has achieved a 96% client retention rate and welcomed dozens of new international clients from across Europe, North America and APAC. Its current client base now totals more than 110 firms, many of which use multiple eflow solutions to help with market abuse surveillance, transaction-cost analysis, transaction reporting and eComms surveillance. 

 eflow’s expansion has also seen the company deliver a suite of new technology to the market during 2023, including a new aggregator model for TZTR (transaction reporting platform) and three major updates to its trade surveillance and best execution modules.

 Ben Parker, CEO and Founder at eflow Global, commented: “Global socioeconomic events and the surge in AI’s capabilities in the past 12 months have all played a part in mounting regulatory pressure that financial firms are facing. It’s harder than ever to stay compliant, and we know first hand that increasing scrutiny from global regulators and cross border challenges have contributed to this.”

 He added: “eflow’s expansion will help mitigate these issues across the board and we’re excited to bring our technology to a new audience of financial institutions worldwide. The appointment of our new senior hires will help us to execute this vision and make a huge difference in supporting firms with their regulatory challenges.”

 Jonathan Dixon, Head of Surveillance at eflow Global commented: “The only way for businesses to keep pace with continuously evolving regulation is through the implementation of cutting-edge technology. With regulator expectations growing and new legislation, such as the EMIR Refit, coming into play in 2024, I’m thrilled to be joining the team to help redefine compliance for businesses worldwide.”

 The company’s emphasis on enabling firms to simplify compliance procedures while strengthening their governance has gained eflow Global a reputation as a leading RegTech provider. Its solutions are currently used by over 110 financial institutions including Aegon Asset Management and Plus500.

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• 2024 marks the second year FICO is recognized as a top five risk and compliance technology company in the Chartis Research RiskTech100® report.
• FICO was also awarded first place in innovation for the seventh consecutive year for its functionality and technologies to improve risk management for clients.
• FICO® Platform empowers enterprises to unite teams and break down silos.

Global analytics software leader FICO announced that it has been named one of the top five risk and compliance technology providers in the Chartis Research RiskTech100®, for the second year in a row. FICO also secured first place in the Innovation category for the seventh consecutive year, a feat that reflects its continuous introduction of new risk technologies, particularly through its FICO® Platform.

Learn more: FICO Is #1 for Innovation in Risk Management Technology

“FICO’s consistent top position in innovation and top five placement as a risk and compliance technology company is a remarkable achievement and demonstrates the company’s ongoing dedication to being a global innovator. FICO’s distinctive edge lies in its ongoing investment in applied intelligence and machine learning. It’s evident that FICO’s robust performance has enabled its clients to unite and break down silos,” said Mark Feeley, global brand director at Chartis Research.

“We are thrilled to be recognized for our commitment to helping our clients achieve digital transformation on a global scale,” said Nikhil Behl, chief marketing officer at FICO. “FICO Platform has unleashed a pioneering mindset among our customers and serves as a catalyst for intelligent collaboration. FICO Platform enables real-time decision-making and allows our clients to accelerate the introduction of new hyper-personalized products and experiences at hyperscale, powering all their customer connections.”

FICO is a leader in analytics and applied intelligence platform technology delivering exceptional hyper-personalized customer experiences where the practice of responsible AI remains at the forefront of its mission. Its groundbreaking FICO® Platform enables firms to ingest data, develop deep new insights with AI and ML, make hyper-personalized decisions at scale, and achieve world-class business outcomes. It is uniquely suited to maximize customer satisfaction, loyalty, and long-term retention, while improving profitability across the entire customer lifecycle.

FICO Platform received placement as a leader among top providers in “The Forrester Wave: AI Decisioning Platforms, Q2 2023” report. FICO Platform also received the Banking Innovation of the Year Platinum Award in the Future Digital Awards for Fintech & Payments 2023.

2024 marks the 18th anniversary of the RiskTech100® report, a comprehensive examination of the world’s major solution providers in risk and compliance technology. The rankings in the report reflect the analysts’ opinions, along with in-depth research into market trends, participants, expenditure patterns, and best practices.

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MCO provides compliance management software that enables financial services firms to reduce their risk of misconduct and maintain an ethical culture. MCO’s integrated SaaS platform lets compliance professionals demonstrate they are proactively managing the regulated activities of the company, employees and third-party relationships on a single risk and compliance platform.

“We’re thrilled to be acknowledged as a top participant in the global risk and compliance technology marketplace through the rigorous Chartis benchmarking and assessment process,” noted MCO CEO Brian Fahey. “MCO was founded with the mission of delivering an integrated technology framework for helping firms keep pace with stringent and evolving regulatory requirements. This honor is a testament to the hard work and dedication of the entire MCO team to deliver on that mission.”

The Chartis RiskTech100® is a comprehensive independent study of the world’s major players in risk and compliance technology. Rankings are based on functionality, core technology, strategy, customer satisfaction, market presence and innovation, and focus on solutions, industry segments and success factors.

In conversation with Chartis Research Global Brand Director Mark Feeley, MCO Chief Revenue Officer Dave Kubersky stated that “one of the great challenges of compliance is the large number of areas that firms need to be cognizant of. Regulators are looking to see that you have all of the baseline capabilities well-covered.” Watch their full exchange to hear more about how MCO helps firms assess trends across areas of compliance with a broad range of capabilities on an integrated platform here.

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“Sensa-NetReveal provides a full set of AML solutions that feed into a widely used case management system,” said Celent Director Risk Neil Katkov, Ph.D. “The integration of SymphonyAI Sensa’s AI-based detection platform with NetReveal’s case management provides a robust new option for enterprise-level financial crime compliance.” Sensa-NetReveal received the strongest customer feedback among the vendors in this report—a perfect five across functionality, technology, and service/support ratings.”

Industry researcher Celent’s fifth review of anti-money laundering (AML) transaction monitoring systems for financial institutions profiled 17 vendors worldwide, spanning longtime incumbents to new market entrants. The report notes industry developments in digital capabilities, including machine learning and large language models, with SymphonyAI as a representative vendor in both. Celent analysts assessed vendors on product key features, analytics, and selling and servicing details.

As the report notes, “SymphonyAI Sensa-NetReveal provides a comprehensive set of financial crime compliance solutions, including transaction monitoring, KYC/CDD, and sanctions screening. Outputs from each of these modules can be fed into Sensa-NetReveal’s case management system for integrated, entity-based alert and case investigation. Machine learning is used both to augment rules-based detection and to prioritize alerts to reduce time spent on false positives during the investigation process. Supervised and unsupervised machine learning models use an organization’s existing data to detect hidden risk patterns. Integrated out of the box rules and AI-led detections are processed together through Sensa-NetReveal case management.”

“We are delighted at the recognition from Celent in their detailed vendor view analysis,” said Mike Foster, CEO of SymphonyAI Sensa-NetReveal. “Our leading position in the matrix validates the vision for integrating Sensa and NetReveal. We have combined NetReveal’s enterprise scale and end-to-end power with Sensa’s innovative award-winning predictive and generative AI capabilities to deliver a cohesive industry-leading portfolio to the financial crime detection market. Our client-focused culture drove superb customer ratings of our products and customer service, and that is our honor and responsibility.”

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Napier will provide its Transaction Screening solution from the Napier Continuum platform to Starling Bank, to help it continue to deliver on its vision of fast technology, fair service and honest values.

Starling chose Napier because of the platform’s standout technology and performance, that can keep pace with Starling’s impressive growth.

• Deployment flexibility
• Speed of deployment, testing, and tuning
• No code configuration
• Easy integration via APIs to Napier platform
• Diagnostic strength

“We chose the Napier platform because the team was able to deploy in just six weeks,” explains Steve Newson, Chief Technology Officer at Starling. “We were incredibly impressed by the innovations within the platform which supported both a rapid go-live as well as delivering tangible results for us in terms of financial crime compliance.”

“Starling Bank has built its reputation on its sustainable banking ethos,” continues Newson. “We continue to invest in our Anti Money Laundering solutions to make sure funds aren’t reaching harmful criminal enterprises such as human trafficking and modern slavery.”

“Napier is delighted to partner with Starling Bank on its financial crime compliance journey,” says Greg Watson, Chief Executive Officer at Napier. “Napier’s innovations, including its Sandbox and no-code configuration of screening scenarios, support financial crime compliance at speed for Starling.”

Napier is proud to work with Starling Bank to deliver on its vision of a values-led banking industry, including effectively combatting financial crime.

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The announcement follows Lucinity’s recent launch of Luci at Money2020 in Europe, Lucinity’s pioneering generative AI copilot, which now integrates seamlessly with Neterium. Luci empowers clients to conduct in-context, in-depth, and ad-hoc sanction checks and provides a comprehensive interpretation of the results. The Luci copilot is the first of its kind in the industry. With the Lucinity platform, users can natively integrate and unify all screening processes and workflows within one system.

Lucinity’s clients will have access to instant screening results around the clock via Luci, a move set to significantly enhance compliance measures and deliver unparalleled benefits. FinCrime prevention professionals can also conduct a holistic search of an actor with the click of a button, including a search on Experian’s databases, internet search, and any sanction matches powered by Neterium.

Lucinity is a cutting-edge SaaS platform leveraging generative AI and augmented intelligence to transform the financial industry through faster and smarter financial crime prevention. Neterium, with its unique holistic matching technology that is cloud and API native, offers over 20 years of expertise in financial crime compliance.

The partnership between Lucinity and Neterium is set to increase effectiveness and efficiency by merging top-tier screening and FinCrime prevention into a single solution. This alliance provides financial institutions with a comprehensive compliance tool, enabling them to identify high-risk individuals or entities and take swift, appropriate action. The partnership has already attracted a shared client base, underscoring the transformative potential of this collaboration.

Guðmundur Kristjánsson (GK), Founder and CEO of Lucinity, expressed his excitement about the partnership, stating, “With the launch of the Luci copilot and our partnership with Neterium, Lucinity is pushing the boundaries of innovation in the financial crime prevention space. Our mission is to streamline FinCrime processes, empowering professionals to work more efficiently, and make faster, more informed decisions. Together, we are reshaping the industry, propelling it towards a future of unprecedented productivity.”

Neterium CEO Luc Meurant added, “We are thrilled to partner with Lucinity to offer clients a comprehensive and innovative end-to-end compliance solution. This unified solution for financial crime prevention simplifies compliance, making it easier for financial institutions to meet regulatory requirements effectively and efficiently.”

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This partnership offers banks using Opics a seamless vendor experience and recurring data validation checks. With the ability to onboard customers in one portal, banks can utilize a single vendor for Know Your Customer (KYC) and Anti-Money Laundering (AML) management, enabling increased operational efficiencies and eliminating the need for multiple vendor relationships. Powered by open APIs and delivered via Finastra’s FusionFabric.cloud, ADVANTAQ’s cloud-based solution can be implemented quickly and efficiently, reducing overall time to market.

“To support our growth, Finastra is the ideal partner to help us reach new customers by providing a new route to market,” said Bruce Bowen, CEO of ADVANTAQ. “Our secure, automated compliance solutions are an ideal match for Finastra Opics clients, and we look forward to helping more banks across the Caribbean achieve increased efficiencies so they can focus more closely on the needs of their customers.”

“Partnerships are critical for Finastra’s growth in the Caribbean, and we are thrilled to work together with ADVANTAQ to expand our collective reach in the region,” said Chandrasekhar Chingacham, Head of Product for Opics, Treasury & Capital Markets at Finastra. “As banks work to ensure their compliance procedures are both efficient and centralized, this new partnership gives back-office teams the tools they need to simplify client onboarding and manage processes effectively. With its unique industry expertise and state-of-the-art technology, we know that ADVANTAQ is the right partner to help support our Opics customers in the Caribbean as they work to achieve their goals.”

Finastra Opics is a solution for managing core treasury and back-office processes. With straight-through processing (STP) capabilities, it covers all aspects of a bank’s treasury operations, from deal inception through to settlement and accounting. By delivering transparency, flexibility, and functionality on a single platform, it makes treasury operations more cost-effective, increasing overall profitability.

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“SAS’ smart acquisition of Kamakura has helped broaden its financial services sector coverage and expand capabilities in key areas like liquidity, interest rate and market risk,” said Sidhartha Dash, Chief Researcher at Chartis. “This, combined with the transformation of SAS’ risk solutions portfolio on cloud-native SAS^® Viya^®, underscores its commitment to innovation across the full end-to-end risk management life cycle.”

In addition to cracking the top 3, the AI and analytics leader also earned five category wins, including:

• Model Risk Management.
• Enterprise Stress Testing.
• Risk and Finance Integration.
• Balance Sheet Risk Management.
• IFRS 9.

As highlighted in its RiskTech100 winner’s profile, SAS has topped the Risk and Finance Integration and IFRS 9 categories several years running.

SAS: Top 5 since 2005
The Chartis RiskTech100 is known as Chartis Research’s flagship report, comprising an annual Top 100 ranking of the world’s major risk and compliance technology vendors. Results reflect market trend research coupled with Chartis analysts’ expert opinions, based on an extensive nine-month research and assessment process. Vendors are scored on functionality, core technology, strategy, customer satisfaction, market presence and innovation.

“Top 5 since 2005, and up two places in two years, SAS has retained a position in the RiskTech100’s uppermost echelon since the report’s debut – the only vendor to do so,” said Troy Haines, Senior Vice President and Head of Risk Research and Quantitative Solutions at SAS. “But we aren’t resting on our rich legacy or reputation as the leader in analytics.

“SAS continues to innovate where our customers are requesting deeper insight and trustworthy risk management solutions – in areas like interest rate and liquidity risk analytics, credit risk modeling and decisioning, model risk management, and actuarial transformation, to name a few. By aligning with market needs as we reinvent and modularize our risk portfolio on cloud-first SAS Viya, SAS aims to grow in partnership with our customers and remain the most trusted name in analytics.”

SAS’ other analyst accolades in banking technology include recognition for anti-money laundering solutions, enterprise fraud management, real-time interaction management and more. Visit us online to learn how SAS’ banking analytics solutions with embedded AI can drive transformation across risk management, fraud and financial crimes compliance, and customer experience.

RiskTech100^®, RiskTech Quadrant^® and FinTech Quadrant are Registered Trademarks of Infopro Digital Services Limited.

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