SOFGEN partners with NetGuardians for operational risk solution

Geneva - 19 July 2013

Innovative software offers real-time fraud prevention analysis for banking systems

SOFGEN Holdings Limited (SOFGEN), an international provider of IT solutions for banks, has announced a worldwide partnership with NetGuardians SA to bring the latter's cross-platform operational risk mitigation software to banks.
The NetGuardians NG|Screener product is a full-scale fraud detection and prevention tool that integrates seamlessly into all major core banking platforms with interfaces having been built for Avaloq, Eri Bancaire Olympic and Temenos T24. It performs real-time behavioral analysis to identify possible sources of fraud instantly, which are then communicated via comprehensive alerting and reporting mechanisms. It is highly customizable, and provides in-depth visibility to both compliance and audit functions.

"We are extremely pleased to have concluded our partnership with SOFGEN," said Joël Winteregg, CEO of NetGuardians. "The importance of operational risk management and fraud detection is increasing in line with pressures on banks and financial institutions as they leverage their IT investments and automate in their efforts to control costs. SOFGEN's global reach will help us promote our solution on a worldwide basis."

"SOFGEN welcomes the opportunity to offer this best-in-class solution to our current and future clients," added Andre Israel, SOFGEN CEO. "Our strategy is to deliver IT solutions to banks on a worldwide basis both in and around their core systems. NetGuardians' NG Screener complements our solutions portfolio in the area of compliance and risk."

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