Eastnets Recognized in Chartis RiskTech100® 2025 Rankings
Eastnets, a global leader in compliance and payment solutions, has achieved significant recognition by ranking 54th in the prestigious Chartis RiskTech100® 2025 rankings. This accomplishment highlights Eastnets' innovative work in providing solutions to combat trade-based money laundering (AML). The award for its trade-based AML solution emphasizes the company’s role in aiding financial institutions to navigate the increasing risks of financial crime associated with global trade.
The Importance of Trade-Based AML Solutions
As criminal networks continue to exploit the intricacies of international trade, the need for effective trade-based AML solutions has never been more vital. Eastnets has addressed this demand by leveraging advanced technologies such as generative AI and Optical Character Recognition (OCR) document digitisation. Their proprietary Trade-Based Money Laundering (TBML) machine learning models are designed to meet the challenges posed by modern financial crime.
Innovative Solutions for Modern Compliance Challenges
Central to Eastnets’ success is its AI-powered solutions, including SafeTrade. This tool provides functionalities that streamline the detection of financial crime through features like vessel tracking, continuous screening, and AI-driven anomaly detection. Alongside SafeTrade, offerings such as SafeWatch AML and PaymentGuard present an integrated and adaptable approach, allowing financial institutions to remain agile and compliant with evolving financial crime threats.
Leadership Insights from the CEO
Hazem Mulhim, the founder and CEO of Eastnets, expressed the company’s commitment to innovation, stating, “Seeing Eastnets continue to rise up the RiskTech 100 rankings shows our strategy is working, and our technology investments are right for the customer and the ever-changing market.” His confidence is bolstered by high scores in Customer Satisfaction and Core Technology, reinforcing Eastnets' position as a leader in the financial technology sector.
Navigating Compliance in a Complex Landscape
As the financial landscape becomes increasingly complex due to regulatory scrutiny, Eastnets continues to help clients acclimatize to changing compliance requirements across various critical financial areas such as payments and trade finance. According to Sid Dash, Chief Researcher at Chartis, the company’s approach is foundational to helping clients navigate this evolving environment effectively.
SafeTrade: A Comprehensive Solution
Eastnets’ SafeTrade solution consolidates essential functions such as document digitization, vessel tracking, and generative AI-powered pricing analysis into a single platform. This innovation empowers institutions to gain comprehensive visibility over their operations, enhancing their capability to identify illicit activities with greater accuracy. In doing so, SafeTrade reduces the reliance on traditional methods, which often involve cumbersome spreadsheets and disconnected systems.
About Eastnets
Eastnets is a distinguished global provider of compliance and payment solutions catering to the financial services sector. With over 40 years of experience in combating financial crime, the firm supports more than 800 financial institutions, including 15 of the top 50 banks and 22 of the world’s central banks. Their services encompass sanction screening, transaction monitoring, detailed analysis, reporting, and leading consultancy and support services.
Frequently Asked Questions
What is Eastnets known for?
Eastnets is known for providing innovative compliance and payment solutions, particularly in the realm of trade-based AML.
Which ranking did Eastnets achieve?
Eastnets ranked 54th in the Chartis RiskTech100® 2025 rankings.
How does Eastnets help combat financial crime?
Eastnets helps combat financial crime through advanced technologies and integrated solutions designed for effective financial crime detection and compliance.
What technologies does Eastnets utilize?
Eastnets utilizes generative AI, document digitization, and proprietary machine learning models to enhance its compliance solutions.
How long has Eastnets been operating?
Eastnets has been operating for over 40 years, focusing on financial crime protection and compliance solutions.