Chartis names EastNets a ‘Best of Breed’ provider in its RiskTech Quadrant® for enterprise fraud technology solutions

EastNets, a leading provider of compliance, payment and cloud solutions today announced that Chartis, a provider of research on the global market for risk technology, has named them ‘Best of Breed’ in its 2018 RiskTech Quadrant® for enterprise fraud technology solutions.

The RiskTech Quadrant® is part of Chartis Research’s report Financial Crime Risk Management Systems: Enterprise Fraud; Market Update 2018. This year’s research notes that a wide range of new threats (and possibilities) has emerged, as technological changes inside and outside Financial Institutions (FIs) have exposed them to faster payments, risky intermediaries, and new technical environments that include cloud deployments, ‘container’ technologies and open Application Programming Interfaces (APIs).

Hazem Mulhim, CEO EastNets said: “With the increase in incidences of financial crimes, most particularly in enterprise fraud, it has become essential for risk technology vendors to stay ahead by providing cutting edge solutions. Being recognized in the Chartis report and as ‘Best of Breed’ is a testimony of EastNets’ ability in offering advanced and innovative solutions to the financial sector to reduce money laundering and other financial crimes.”

Chartis describes best-of-breed solutions as having best-in-class point solution capabilities, focused functionality, a growing client base, superior sales and marketing execution and a clear strategy for sustainable profitable growth. Crucially, best-of-breed solution providers demonstrate a healthy rate of investment in R&D and have specific product or go-to-market capabilities that give them a competitive advantage.

The RiskTech Quadrant® uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization’s needs. The RiskTech Quadrant® does not simply describe one technology solution as the best risk management solution; it has a sophisticated ranking methodology to explain which solutions would be best for buyers, depending on their implementation strategies.