Bottomline Named 2021 Technology Leader By Quadrant Knowledge Solutions
Insider Risk Management Fraud Solution Capabilities Recognized
MIDDLETON, Mass, Dec. 1, 2021 /PRNewswire/ -- Quadrant Knowledge Solutions today announced that it has named Bottomline Technologies as a 2021 technology leader in the report titled SPARK Matrix™: Insider Risk Management. The SPARK Matrix includes a detailed analysis of global Insider Risk Management market dynamics, major trends, vendor landscape and competitive positioning. The report examined Bottomline and 23 other vendors by evaluating the company's product portfolios, technology strategies, market presence and customer value proposition. It provides a snapshot of the key market participants and a visual representation of their positioning, along with strategic insights on the ranking of participating vendors in relation to their competitors.
Bottomline distinguishes itself as an innovative and leading provider of Insider Risk Management solutions. The company offers Cyber Fraud & Risk Management (CFRM) and Insider and Employee Fraud (IEF) solutions to prevent malicious activities and protect from advanced external attacks, insider threats, payment fraud and money laundering. Bottomline's IEF solution provides end-user visibility across applications, channels and platforms used on a mainframe or on the cloud to security teams, fraud investigators and internal auditors. It detects anomalous behavior and high-risk transactions in real-time to minimize risk.
According to Sachin Birajdar, Analyst, Quadrant Knowledge Solutions:
"Bottomline offers patented technology for non-invasively recording user access to core banking and other internal systems, supporting both old (mainframe and AS/400) and current web applications. Moreover, Bottomline incorporates multi-layered analytics and fraud analytics simulation tools to detect insider fraud and access multiple risk configurations against historical data. The company also offers Bottomline's ML studio UI that allows users to bring their own risk model from a third-party tool or to create their own. Additionally, it leverages machine learning analytics to support supervised, unsupervised, and semi-supervised models. With overall strong performance across the parameters of technology excellence and customer impact, Bottomline is positioned among the 2021 technology leaders in global Insider Risk Management."
According to Omri Kletter, Global Vice President, Fraud & Financial Crime, Bottomline:
"Insider threats have accelerated dramatically because the way we work has evolved. Traditional point solution approaches to monitoring, preventing, and investigating insider risk aren't consistent with new working models. Capturing insider bad actors requires an end-to-end approach that sees the whole picture of user activity across the various applications that our customers run, including those on the public cloud. We have a strong cultural commitment to help customers maintain compliance and fight fraud and financial crime on all fronts. That includes the unique technology that we've been recognized for, which non-invasively records user actions, ingests real-time insights from those actions across monitored systems and runs those through our advanced analytics engine. The resulting insights are easily consumable for fraud investigators, security officers and internal auditors, providing a clear visual replay of activity across user sessions. Many customers have realized the benefits from our solutions in other use cases, including support for their compliance with directives such as GDPR. It's an honor for Bottomline to be recognized by Quadrant as a leader working to advance easily consumable technology for the fight on this critical front of financial crime."
According to the research, driven by the growing market opportunity, Insider Risk Management vendors offer robust risk management solutions to detect, analyze, protect, remediate, and respond (alerts) to insider threats in real-time. These solutions provide control and visibility over internal data access, data leakages by end users—including employees, remote vendors, and contractors—to protect from insider threats like data theft, fraud, and infrastructure damage due to careless users, malicious insiders and compromised credentials used by vicious outsiders. The primary capabilities of Insider Risk Management solutions include user and device monitoring, insider threat detection, user and entity behavior analytics, risk response automation, audit and reporting, and others. However, the breadth and depth of functionalities differ between different vendors' offerings.
Driven by increasing competition, Insider Risk Management vendors are looking to improve their overall technology value propositions and market strategies to remain competitive. And, with the increased adoption of work-from-home cultures, BYOD/WYOD policies and growing usage of IoT devices, insider threats are growing massively. Responding to that growth, vendors are implementing AI, ML and advanced analytics to offer more comprehensive solutions that are capable of detecting, alerting and responding to threats in real-time.
About Quadrant Knowledge Solutions:
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/.
Quadrant Knowledge Solutions
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.