NetGuardians makes the Chartis Risktech Quadrant® for enterprise fraud technology 2018

Yverdon-les-Bains, 11 October 2018 – NetGuardians, the award-winning Swiss FinTech, announced today that it has been included in the Chartis RiskTech Quadrant® for enterprise fraud technology solutions 2018.

NetGuardians’ inclusion, specifically in the Point Solutions category, cements its global position as a leading vendor of banking fraud prevention solutions.

According to Chartis, vendors in the Point Solutions category meet a critical need in the risk-technology market by solving specific risk-management problems with domain-specific software. NetGuardians was assessed for how well its software performs in a range of situations such as payment fraud, internal fraud analytics, real-time detection, fraud detection techniques, and alert management.

Joël Winteregg, NetGuardians’ co-founder and CEO, says: “Inclusion in the Chartis RiskTech Quadrant® for enterprise fraud technology solutions is independent recognition that NetGuardians delivers effective, cutting-edge fraud-mitigation software. Being a Point Solutions vendor also highlights our strong focus and innovative drive in the banking fraud prevention field. We are thrilled to be included in the 2018 report.”

Banks worldwide face a growing challenge from fraudsters who are adopting increasingly sophisticated methods. Fraud and other forms of cyber-crime are expected to cost US$6 trillion a year by 2021*. At the same time, banks must also demonstrate to regulators that they are doing all they can to protect customers’ accounts or face big fines.

NetGuardians’ solution uses advanced analytics, dynamic profiling and machine learning to build highly accurate customer and employee profiles. It uses these profiles to spot in real-time internal banking fraud and fraud attempts on channels, including ebanking and mbanking. Suspicious transactions are blocked and alerts automatically sent to the appropriate staff for swift resolution.

Banks running NetGuardians achieve dramatically higher rates of accuracy in correctly identifying fraudulent transactions, cutting the number of false positives by 83 percent. The result is a better customer experience and lower operational costs. Fraud-management time is cut by 93 percent.

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*Cyber Security Ventures, Cyber Crime Report 2016