back Back

NetGuardians launches new and innovative AML solution

By Gloria Methri

November 02, 2022

  • AML
  • AML Compliance
  • bank frauds
Share

NetGuardiansSwiss FinTech NetGuardians, helping financial institutions worldwide prevent bank fraud, has launched its new anti-money laundering (AML) transaction monitoring solution.

The RegTech company has upgraded its NG|Screener platform to include a money-laundering transaction monitoring solution with an aim to transform the outdated AML approaches to bring effectiveness to financial institutions.

NetGuardians believes that for many banks, AML can be a daunting task due to their obligations and the consequences of non-compliance. This is made harder by the increasing volume of digital transactions and real-time payments passing through their systems, the evolving techniques used by criminals, the silos of data within their legacy systems, and more.

The new AML transaction monitoring solution integrates both internal and external sources of data to look for anomalies in behaviour. It is capable of monitoring large volumes of transactions highly, reducing false alerts to improve operational efficiency and cut costs.

Joël Winteregg, NetGuardians co-founder and chief executive, said, “Over the past years, several of our client banks have already applied our fraud-prevention software for AML. Working with them, we have expanded its capabilities, adding new features to the highly efficient core analytics specifically for AML monitoring. We have now the pleasure of launching our new AML transaction monitoring solution and offering it to financial institutions worldwide. By giving the opportunity for fraud and AML teams to work together, we break down the silos to better combat financial crime. Regulatory obligations are better met and at a lower cost.”

NetGuardians offers fraud prevention tools using machine learning and artificial intelligence to help protect more than $7 trillion of assets held by its clients. NetGuardians claims that those using its software see a drop of at least 75 percent in operating costs and detect and stop more fraud.

Back in April, NetGuardians was selected by Zurich Cantonal Bank to help bolster its defences against fraud.

Previous Article

November 02, 2022

Weavr announces its launch into Singapore

Read More
Next Article

November 02, 2022

Baiduri Bank goes all-in on SaaS with move to Temenos Banking Cloud

Read More










IBSi Daily News Analysis

The Weekly Wrap

March 24, 2023

AML

The Weekly Wrap: all you need to know by Friday COB | March 24th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

SEBI makes KYC mandatory for E-wallets used to invest in Mutual Funds

Read More

March 24, 2023

AccesBanque taps Compass Plus Technologies for ATM acquiring & card management

Read More

March 24, 2023

Unifimoney and First Fidelity Bank announce enhanced yield savings program

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q4 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q4 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q4 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022