TEMPE, Ariz., March 24, 2016 /PRNewswire/ -- Global integrity and compliance firm The Red Flag Group released today enterprise wide real-time transaction screening software for compliance risks that identifies suspicious behavior and blocks transactions from happening.
IntegraAnalytics® | Compliance Transaction Monitoring is cutting-edge software that utilizes a powerful analytics engine that can search multiple databases. Unlike other big data products that focus on historical data after the event, IntegraAnalytics can be used to identify suspicious transactions in real time. With its intuitive dashboard and automatic monitoring capability, IntegraAnalytics has the potential to revolutionize compliance and provide businesses with an opportunity to take immediate proactive actions to prevent or remediate compliance problems.
"While most companies focus on analyzing historical data to determine potential risk areas for a company, we managed to develop an application to monitor real-time transactions to allow a company to actively analyze both historical and live transactions for non-compliant and suspicious behaviors," said David Youngson, Chief Executive Officer of The Red Flag Group. "This can help companies prevent loss in revenue, potential fines from non-compliance issues or a damage in reputation. Essentially, we view this as the 'Holy Grail' of compliance."
For example, when a company wants to identify corruption via sales channels, it usually requires looking into different data sources – such as deal size information, risk ratings in a particular country, reseller information, and any non-standard discount requests – manually and individually. Once all information is collected, the company would then perform an analysis to identify potential suspicious transactions. The whole process can take days or even months.
However, IntegraAnalytics allows for screening and checking the data via the dashboard in real-time. The company can identify issues earlier and save itself from potential revenue loss and fines.
Consisting of a simple one-page dashboard overview that helps compliance teams to easily manage transactional risks, IntegraAnalytics:
"We are very proud that IntegraAnalytics is the first predictive analytics tool in the market, with full coverage on customers, sales, suppliers, and human capital data, and we think it can change everything," said Scott Lane, Chairman of The Red Flag Group. "Through an intuitive user interface and dashboard, IntegraAnalytics enables business users to identify suspicious trends immediately and can offer prompt actions. Compliance efficiency and effectiveness can highly be improved with this new analytics tool."
To learn more about this product, visit www.integraanalytics.com.
About The Red Flag Group
The Red Flag Group is a global integrity and compliance risk firm. It produces a unique set of advice, technology and business-intelligence applications to manage the integrity and compliance risks of its customers. The Red Flag Group is a leader in screening and due diligence across a range of industries in 180 countries. For more information, visit www.redflaggroup.com.
CONTACT:
Samantha Frost or Ben Arens
L.C. Williams & Associates
800-837-7123 or 312-565-3900
sfrost@lcwa.com or barens@lcwa.com
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