FircoSoft, the leading global provider of watch list filtering solutions, announced today that it has been ranked as a “Best-of-Breed” watch list filtering vendor by Chartis in its recent Anti-Money Laundering Solutions 2013 RiskTech QuadrantTM. Chartis is a leading provider of research and analysis covering the global market for risk management technology.
Chartis recognizes “best-of-breed” solutions that have superior point solution capabilities together with the organizational characteristics to capture significant market share in their chosen target markets. According to Chartis, providers of best-of-breed solutions usually have a growing client base, superior sales and marketing execution, and a clear strategy for sustainable profitable growth. Best-of-breed solution providers can also demonstrate a healthy rate of investment in research and development and have specific product or “go-to-market” capabilities that give them a competitive advantage.
“Since FircoSoft’s acquisition of the Telovia team and Panorama Workbench last year, we have seen promising growth and expansion of its core solution suite,” said Peyman Mestchian, Managing Partner at Chartis Research. “In addition, and since the launch of its Firco Continuity Version 5, we have seen impressive strides in terms of scalability, system performance as well as a connector approach for rapid integration with any banking application. This new V5 technology reduces the risk and complexity of implementation projects and provides a strong platform to help its customers evolve over time to address new regulations such as FATCA.”
“We are very pleased with Chartis’s recognition of our watch list filtering solution as best-of-breed. Chartis is a premier risk management technology research firm with a strong understanding of our market and its vendors’ strengths and weaknesses. Considered as best-of-breed in the RiskTech Quadrant by Chartis is an honor for FircoSoft as well as a validation of our solution and leadership in the market,” said Jean Losco, CEO of FircoSoft. “With the ever-changing regulatory landscape, including the introduction of new regulations such as FATCA, providing innovative and highly effective solutions are at the core of our mission to enable our customers to adapt over time to preserve their reputation and protect against regulatory risk.”