Mantas upgrades fraud detection platform

Source: Mantas

Mantas today introduced Mantas 4.0, featuring new versions of the Mantas Behavior Detection Platform and Mantas' core anti-money laundering, trading compliance and broker compliance applications.

Technology and compliance improvements in Mantas 4.0 provide customers with greater ability to meet demanding regulatory requirements, improved flexibility and scalability, and lower total cost of ownership. Mantas 4.0 is the financial services industry's only enterprise-wide solution that enables customers to deploy multiple compliance applications on a common platform.

Improvements in Mantas 4.0 reflect the changing role that compliance plays in financial institutions' operations and risk management policies. With the increasing frequency and severity of compliance penalties, financial institutions of all sizes are looking for enterprise-wide solutions that offer protection across multiple business lines and geographies.

"Implementing compliance systems should no longer take a 'do just enough to appease the Feds' approach," said Robert Iati, research director for TowerGroup. "Rather, forward-thinking institutions should seize this opportunity to leave their 'fire-drill' tactics in the past, and build holistic systems that gaze across the enterprise to offer protection for not only the immediate regulatory concern but, more importantly, provide a solid foundation for meeting all future compliance needs."

Mantas 4.0 immediately delivers the benefits of improved risk management and reduced technology overhead through the adoption of one common platform for all compliance requirements, across multiple business units, client bases and financial products. To identify potential compliance violations, the solutions employ customizable behavior detection 'scenarios' that identify and analyze hundreds of compliance challenges - from insider trading to client suitability, from anti-money laundering to abusive squeezes, from identity fraud to mutual fund abuses.

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