Swiss-based financial technology innovator NetGuardians has been named as a ‘Cool Vendor’ byGartner’s Cool Vendors in Audit and Compliance Innovate Controls Validation Techniques, 2015 report.
Identifying cloud security, third-party risk, and operational fraud as critical issues for security audit and compliance executives, the report features three “cool vendors” who offer innovative solutions to validate controls for these business risks. NetGuardians develops controls based on intelligent behaviour analysis for fraud mitigation, and audit and compliance assurance.
Independent analysis by Gartner, the global information technology research and advisory company, offers insights based on solid research processes and methodologies. NetGuardians’ solutions, analysed by Khushbu Pratap, are described as “a unique proposition” in the report.
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The report says NetGuardians is “cool” because they “combine the data capture capability of a security incidents and events management (SIEM) solution into an operational risk assessment application, and layer it with the capability to associate user behaviors to core business transactions.”
It recognises that NetGuardians’ solutions “give audit and compliance professionals a headstart in identifying operational risk and detecting fraud” because they can “not only identify a suspicious transaction but also investigate individual steps of the suspicious transaction… NetGuardians’ solutions help detect employee collusion that is not seen in other products on a single platform in the related markets.”
“This independent assessment by such a reputable source is definitely an honour,” says NetGuardians COO Raffael Maio. “It gives us the message that we’re on the right track, creating highly effective, innovative fraud mitigation and risk assurance solutions for banks.”
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