RegTech 100 company NetGuardians has bolstered its presence in Asia by establishing a new headquarters in Singapore.
The Swiss company, which provides anti-fraud and risk mitigation solutions, has chosen Singapore for its permanent APAC headquarters as it looks to help the regions’ banks fight fraud.
Co-founder and COO Raffael Maio is relocating to Singapore to lead the 10-person team, which also includes Asia-Pacific sales director Peter Marini. The island state was chosen as an ideal base for Asia Pacific operations due to its centrality and recognized position as a leading technology hub, the firm said in a statement.
Cyber fraud is expected to reach $6trn by 2021 according to NetGuardians CEO Joel Winteregg, with the region ‘far from immune to these global trends.’
“APAC Financial institutions are very attuned to the need for airtight fraud prevention solutions,” according to Raffael Maio. “Our clients here appreciate the quality of our made-in-Switzerland solutions, because of our banking know-how and agility to rapidly provide use cases to meet evolving fraud trends.”
Founded in 2007, NetGuardians was the first company to emerge from the innovation incubator Y-Parc, in Yverdon-les-Bains, Switzerland. Its technology leverages machine learning and user behavior analytics to detect fraud before it happens. This patented, Big Data model is used across financial services to address challenges such as eBanking fraud, payment fraud, mBanking fraud, internal fraud and fraud detection for SWIFT Hacking.
The company boasts more-than fifty clients in fifteen countries across Europe, the Middle East and Africa, with a growing clientele in Asia, including Acleda Bank in Cambodia and, most recently, a major bank in Singapore.
Last year, NetGuardians was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
