In seeking to shield themselves from penalties, business disruption and felony charges, CIBs use vendor-provided financial crime prevention solutions to overcome the cost pressures that are associated with multi-jurisdictional compliance. For example, a common challenge for the global sellside industry is to obtain the technological sophistication to minimise the ‘noise’ associated with the identification of false positives alerts, such that compliance personnel are afforded the time needed to investigate, or prevent, real violations from occurring.
To elucidate the differentiating factors between the 10 solutions, a detailed analysis of the key purchasing criteria of all the solutions is presented both individually and in aggregate in this report. The analysis incorporates data points garnered for each technology vendor that enabled GreySpark to draw out the strengths and weaknesses across the surveyed solutions set.
For the purposes of this report, the selected solutions and their users were researched and surveyed by GreySpark analysts across:
- Five KPCs – Comprised of a mixture of functional and non-functional categories; and
- Four KPIs – Each one of which is comprised of a synthesised set of functional and non-functional attributes designed to allow for a proprietary assessment of the ‘fullness’ of each of the assessed KPCs per each of the researched and surveyed vendor solutions.
This report reviews the findings of the research and survey of the following solutions:
- BAE Systems BAE Systems Digital Intelligence;
- BlackSwan Technologies Element;
- Feature Analytics eyeDES;
- Featurespace ARIC;
- Feedzai RiskOps;
- FICO The FICO Platform;
- Oracle The Oracle Financial Crime and Compliance Management (FCCM);
- Palantir Foundry;
- SaS SAS for Fraud & Financial Crimes Compliance; and
- SteelEye Holistic Trade & Communications Surveillance.
