By: Editorial Staff, Date: May 18th, 2022
Quadrant Knowledge Solutions has released its latest SPARK Matrix analysis, an industry benchmark report specific to anti-money laundering (AML) technology. The review rates both customer support and impact as well as technology performance with regards to system deliverables. Oracle has taken the top spot, scoring the highest ratings versus its peers in the industry both on the customer side as well as on technological infrastructure aspects.
The SPARK Matrix has been used regularly to understand the movement and response of technology and anti-crime systems to money laundering. Covering everything from major vendors to development trends and environmental factors, Quadrant Knowledge Solutions’ analysis has been used consistently to chart where the overall AML industry is heading as well as to see who the emerging market leaders are, and who are falling behind.
Pinpointing the Oracle’s FCCM product suite, the SPARK Matrix flagged the fact that the leader’s offering covered the gamut for full-package product delivery, hitting all the major anti-money laundering categories. Everything from Know your Customer (KYC) tracking to enterprise case management and an operational report was included in the FCCM. As a result, it practically provides a customer a comprehensive implementation approach to stifling AML risks across the board versus with isolated activity targeting.
Much of the anti-fraud and security industry already puts heavy weight on the SPARK Matrix. The review applies an intensive approach toward data collection, analysis, and enhanced analytics on how industry players measure up against the latest and most active financial threats companies are facing today. Not to mention, in addition to competitors watching what each are developing for advantages and market niches, governmental agencies are keeping tabs as well in terms of realizing the latest tools to work with in criminal investigations. And for Oracle, the latest ratings put them right at the top of the list for customers’ AML interests in 2022.