The report cites Azentio as a good choice for organizations that want to digitize and modernize their KYC/CDD processes and add AI and ML to improve them
SINGAPORE, August 10, 2022 /PRNewswire/ — Azentio software (“Azentio”), a Singapore-technology company whose head office is held by funds advised by Apax partnerstoday announced that it has been named a competitor in the Forrester Wave™: Anti-Money Laundering Solutions, Q3 2022 report. Azentio Software was among the top 15 anti-money laundering (AML) solution providers assessed according to 26 criteria in the categories of current offer, strategy and market presence.
The report assessed Amlock™, Azentio’s financial crime detection and management solution, an integrated and flexible platform with advanced functionality that leverages risk calculators, comprehensive tools and BI technologies to monitor money laundering activities, risk analysis and powerful insights.
According to the Forrester report, “The vendor has expanded its supported database platforms and invested in a smart ID card reader solution for customers’ KYC processes. It has also added transliteration services for names from English to Arabic and vice versa In its current offering, the vendor demonstrates strength in rule change evaluation (mock testing), rule versioning, and reporting on rule performance. Unsupervised and reinforcement learning capabilities are also above average. The report further adds: “Azentio is ideal for organizations that want to digitize and modernize their KYC and CDD processes and add ‘AI and ML to improve them.”
Azentio received the highest possible score in the Improvements: Watchlist Management criterion, with the Forrester report stating, “Vendor has demonstrated strong and leading WLM product improvement roadmaps and market approach is on par with other providers in this rating.”
Tony KinnerCEO of Azentio, said, “We are grateful to be recognized as a Contender in the Forrester Wave™ report for AML solutions. We believe that as regulations broaden their scope to capture new and emerging threats, the roles of technologies will be a critical factor in adding insights, helping organizations make vital predictions and decisions related to risks. Azentio has invested in its AML solutions to add innovative, market-driven AI and ML functionality. We believe Forrester’s rating reflects our commitment to helping organizations around the world effectively meet their anti-money laundering requirements.”
Azentio’s roadmap for Amlock™ includes improved filtering algorithms with phonetic search; solution integration with identity verification portals; and an improved alert and rule builder.
In Forrester’s recent Global Banking Platform Transactions 2022 Survey, Azentio ranked among the top regional pursuers in the New Named Transactions category; Major cross-seller in the Extended Business category; and major player in the Combined Offers category.
To download your free copy of the report to learn why Forrester recognizes Azentio Software as a competitor among anti-money laundering vendors.
About Azentio software
Azentio Software provides mission-critical, foundational, and vertical-specific software products for banking, finance, and insurance customers. The company’s flagship products include Amlock™, Kastle™, iMAL™, Premia™ Astra, Beyontec Suite and Intelligent Automation Fabric, MFund Plus™ and Orion™.
SOURCE Azentio Software Pvt Ltd