BAE Systems Detica today announced that its Detica NetReveal business division is expanding its Canadian operations to serve its growing customer base. Detica NetReveal now works with three out of the five Tier 1 banks and the eight leading P&C (Property and Casualty) insurers in Canada deploying innovative social network analysis techniques to detect and prevent fraud.
The company is moving to larger premises in Toronto to accommodate its growing team of financial anti- fraud specialists. This is in response to the increased demand from customers for its solutions.
Detica NetReveal is a leading provider of risk, fraud and compliance solutions to the global financial services industry. With over 130 clients spanning four continents, including six of the top 10 banking and insurance institutions in the world, Detica NetReveal's Canadian customers can now benefit from flexible, locally based support and expertise in the ongoing fight against fraud.
Toronto is rated amongst the world's top ten financial centres and Canada's finance and insurance sector attracts in excess of $5.4 billion in foreign direct investment. The World Economic Forum has ranked Canada's banking system as one of the soundest in the world[1].
Joe Friscia, President of the Americas, Detica NetReveal said: "There are tremendous growth opportunities in Canada, a great pool of talent on the ground in Toronto and we are delighted to be expanding our local team. Our banking and insurance customers are increasingly protecting their clients against organised and opportunistic fraud and ensuring that good customers are not paying for the bad ones. As fraud continues to evolve and the regulators introduce new legislation, we are committed to ensuring our financial services clients stay ahead of the fraudsters and meet compliance requirements."