HERNDON, VA â€“ Mantas Inc., a provider of advanced solutions for regulatory compliance, loss prevention and revenue generation used by the worldâ€™s leading financial institutions, today announced the introduction of Mantas ONEâ„¢, a bundled product-and-services offering specifically designed for regional, small- and mid-sized financial institutions. Part of the companyâ€™s effort to extend the reach of its products and services, Mantas ONE is a cost effective anti-money laundering (AML) and fraud detection solution with a feature set and benefits designed to meet smaller institutionsâ€™ needs.
Held to the same regulations, risks and exposures as multi-national financial firms, many smaller institutions lack the resources to deploy world-class solutions. Mantas ONE bridges that gap with a solution that not only addresses current regulations, but also gives these institutions the flexibility and scale to adapt to rapidly changing business and regulatory requirements. Mantas ONE is based on the award-winning Mantas Behavior Detection platform recognized as the only compliance platform available that supports multiple compliance and risk requirements.
â€œIt is clear that regulators are starting to expect more, even from smaller institutions,â€ says Eva Weber, analyst with Aite Group, a leading independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry. â€œStaying under the regulatory radar is no longer an option. Banks and brokerages need to have explicit anti-money laundering and fraud detection procedures in place, supported by appropriate technology, so they can demonstrate that they are actively addressing these issues.â€
Mantas ONE features a combination of product and services specifically designed for institutions that require a lower price point. In Mantas ONE, product thresholds are pre-configured using Mantas and industry best practices, providing easier, simplified setup. Customers can select six scenarios from a set of 13 for rapid implementation targeted at the compliance issues deemed most critical.
The services component of Mantas ONE provides institutions with a shorter, simplified implementation that reduces both the time and overall resource commitment required. Additionally, the program calls for fast achievable milestones to ensure the product and implementation meet the clientâ€™s goals.
As a result of the combined product and services offering, Mantas ONE offers a compelling cost reduction over global deployments.
â€œSmall- and mid-sized institutions must address a growing number of regulations, including some that continue to evolve. They have smaller budgets, fewer resources and staff, and because they typically are not global, small- to mid-sized institutions donâ€™t want complex features that will go unused,â€ said Simon Moss, CEO, Mantas. "They have the same adversaries, same regulations to address, and same operational challenges as the biggest and most sophisticated global organizations. With Mantas ONE, weâ€™ve captured the years of experience and leadership in our global deployments and packaged them for this market. As a result, all institutions, regardless of size or location, can benefit from the world-class solutions that have become the favored choice of the worldâ€™s largest financial institutions. The introduction of Mantas ONE signals a new day for smaller firms that have been forced to address strict regulations with products that lacked the performance required."
Mantas Behavior Detection Platform
The Mantas Behavior Detection Platform is the industry's most comprehensive solution for avoiding risk, exceeding regulatory requirements, and enhancing customer relationships. Mantas analyzes the behavior of customers, employees, and partners in every transaction across the enterprise, from every angle; past, present, and future, empowering companies to act with precision and confidence. Mantas creates transparency, increasing your ability to understand your business - both risks and opportunities. Transparency ensures trust. Trust, along with operational excellence, is the key to retaining customers and growing market share.
Mantas provides its clients with the industryâ€™s most advanced solutions for regulatory compliance, loss prevention and revenue generation. Our clients recognize greater transparency of their business and make better-informed decisions as a result. Mantas is a global software company with operations in Europe, the Americas and Asia/Pacific. Recognized as a leader in global operational transparency, the companyâ€™s products are used by more than 5,000 finance professionals in more than 100 countries.
Headquartered in Herndon, Va., the company has offices in London, New York, and Singapore. Mantas is a Safeguard Scientifics, Inc. (NYSE: SFE) partner company. For further information please visit www.mantas.com.