Lynx Ranked Best of Breed in 2024 Chartis RiskTech Quadrant® for Name and Transaction Screening Solution

Lynx Ranked as Best of Breed in 2024 Chartis RiskTech Quadrant® for Name and Transaction Screening Solution 

29, May 2024, London UK – Lynx, a leading provider of AI software for detecting and preventing fraud and financial crimes, has been recognized as a Best of Breed Name and Transaction Screening Solution in the 2024 Chartis RiskTech Quadrant® for Name and Transaction Screening Solutions.  

 Chartis Research data reveals financial institutions will spend an estimated $6.8 billion on watchlist and adverse media technology in 2024. The latest report focuses on solutions for sanctions – name and transactions – screening and monitoring adverse media and its related elements. Lynx has received industry-leading capability scores in both Data Methodology and Speed and Real-Time capabilities in the quadrant.  

 “Lynx Tech has taken its deep expertise in applying Big Data machine learning and AI in the world of fraud and applied it effectively to watchlist monitoring,” says Nick Vitchev, Research Director at Chartis. “Its solution applies proprietary machine learning technologies to augment watchlists in a configurable manner that is explainable to regulators, and delivers similarity scores in real-time with speed and accuracy – and we expect it to make significant strides in the market in the near future.” 

 The placement in the Chartis Research quadrant follows Lynx’s recognition in Chartis’ Financial Crime and Compliance 50, an in-depth analysis of vendors excelling in financial crime prevention and compliance. Vitchev continues, “Lynx’s appearance in our inaugural FCC50 ranking reflects an ability to transition its knowhow and standing in the area of fraud detection into AML and beyond. Alongside a robust platform that incorporates a large number of risk signals and enables high scalability and flexibility, Lynx’s sophisticated models and tuning capabilities, underpinned by an AI-first approach, enable it to solve challenges in some of the most complex use cases and markets.” 

 Dan Dica, CEO of Lynx comments, “We’re proud to have received two forms of recognition for our solution from Chartis Research in the past couple of months. These accolades represent our commitment to remaining vigilant, agile, and customer-focused, leveraging technology to deliver innovative solutions that address the dynamic requirements of sanctions screening and AML.” 

 “Incredibly proud that Lynx Tech’s AML solution suite has been recognized by Chartis,” adds Alyssa Iyer, Head of Product for AML. “This acknowledgment highlights our dedication to reshaping compliance and financial crime prevention with pioneering AI technologies.”  

About Lynx  

Lynx is an AI-driven software company designed to solve clients’ most significant fraud and financial crime challenges. Our solutions utilize advanced AI technology to proactively identify and prevent fraud and financial crimes in real time, setting new standards for accuracy, speed, and scalability across multinational organizations. 

Lynx is dedicated to helping its clients move from a reactive to a proactive response by harnessing the power of AI to illuminate risk and deliver actionable insights. Lynx continues to set the standard for accuracy, speed, and scalability for multinational financial institutions (FI) and payment providers around the globe. Learn more at https://lynxtech.com 

About Chartis 

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. The goal of Chartis Research is to support enterprises as they drive business performance through improved risk management, corporate governance, and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on all aspects of risk technology. 

RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Infopro Digital Services Limited (http://www.chartis-research.com).