Eastnets, a global leader in compliance and payment solutions for the financial services industry, has achieved “Category Leader” status in the Chartis Payment Risk Solutions 2023 report. Eastnets also ranked as an “Enterprise Solutions” provider for the Alternative Payments quadrant.
This recognition is for Eastnets’ portfolio of payment products, including PaymentSafe, Universal Translator, Messaging Warehouse, Message Duplicate Detection and PaymentGuard. The company’s centralised payment hub provides financial institutions with comprehensive and effective tools for managing multiple payment networks, message archiving requirements as well as fraud detection and prevention. In addition, Eastnets is one of the first providers in the market to enable financial institutions to adopt new instant and fast payment schemes including SWIFT Go.
Eastnets PaymentSafe facilitates the real-time processing, automated workflow management and orchestration of cross-border and domestic payments in a centralised platform. This helps to simplify and streamline the payment reconciliation and settlement process, reducing time, costs and complexity.
Eastnets messaging warehouse is a single repository for financial messages providing a comprehensive view of message activity by enabling access to both live and archived messages from the same interface, eliminating the need to switch between different systems. This aids the creation of intelligence on years of financial data, including detailed reports and dashboards, analytics, trends and investigations.
Eastnets’ PaymentGuard is a robust, real-time, and multi-channel fraud prevention solution. It features a comprehensive suite of AI models that cover a wide range of fraud patterns. The solution also includes an Investigator Tool and Link Analysis, which provide detailed contextual visual insights using intelligent graphing technologies.
In the ever-evolving landscape of financial institutions and their regulatory requirements, Eastnets’ payment solutions are vital. The company’s PaymentSafe, Messaging Warehouse and PaymentGuard solutions help financial institutions keep pace with global payments industry standards and the workflow complexities that come with managing a wide range of payment networks. Eastnets’ solutions also protect against the increasingly sophisticated techniques used by cyber criminals to inject fraudulent payments and transfer money across country borders.
“Eastnets’ category leader position in Chartis’ inaugural Payment Risk report reflects its experience in the payments market and its focus on innovation,” said Nick Vitchev, Research Director at Chartis. “In separate payment categories, its advanced technology, focus on speed, breadth and depth of solutions, and technological strength were reflected in its quadrant ratings for card and account-to-account payments – and in the emerging market for alternative payments risk management.”
Commenting on the recognition, Saeed Patel, Group Director of Product Development Management at Eastnets, said, “We’re immensely proud to have been recognised as multiple category leader in this inaugural Chartis report in the payments industry. This recognition is a testament of the depth of our solutions, our extensive subject matter expertise and the trust our valued clients place in us. At Eastnets, we remain committed to delivering innovative, smart, real-time solutions using best in class technologies that help our clients meet the demands of the business-critical payments landscape and to stay ahead of evolving risks in the financial industry.”
