Study found that Babel Street's Rosette Name Indexer delivers better solutions, increases revenue, and improves end-user experiences.
WASHINGTON, Sept. 26, 2023 /PRNewswire-PRWeb/ -- Babel Street, the world's leading technology partner for advanced identity intelligence and risk operations, today announced the findings from a commissioned Total Economic Impacttm (TEI) Partner Opportunity Analysis study by Forrester Consulting. The study examined the quantifiable business benefits that Babel Street's Rosette Name Indexer delivers to organizations. While the study found many solutions relied on manual compliance reviews that result in delays and poor user experience, Forrester identified that partners who innovate and build with Babel Street benefitted from 82% ROI over three years and an investment payback period of less than 12 months, while dramatically improving overall performance by reducing false positives and increasing accuracy.
Today, many organizations across financial services, healthcare, and the public sector face challenges with data accuracy, navigating the complexities of global compliance, and ensuring operational efficiency in an ever-evolving regulatory landscape. With Babel Street, partners supporting those organizations can effectively tap into the power of Rosette Name Indexer to tackle these challenges head-on to match name variations from phonetic similarity, transliteration, nicknames, misspellings, multiple scrips, semantically similar and truncated components, initials, and related inconsistencies across data fields to ensure accurate identification.
Rosette Name Indexer is multilingual, supporting over 25 languages, and applies dozens of matching criteria built on advanced AI and natural language processing to compare hundreds of millions of names in real-time. With many integration options and deployable in the cloud or private instance, Rosette Name Indexer gives customers and partners complete control and transparency with a configurable user interface. With Rosette Name Indexer, organizations are empowered to deliver timely and trusted identity resolution for anti-money laundering (AML), know-your-customer (KYC), payments, security, compliance, and more.
"At Babel Street, we're continually developing the most advanced AI-driven solutions for identity screening, security, and contextual intelligence," said Michael Southworth, CEO of Babel Street. "Accurate and rapid results, including up to a 90% reduction in false positives, are essential for these organizations, and we're proud that solutions like Rosette Name Indexer provide trusted insights and a measurable ROI for our customers."
To measure this success, the TEI methodology consists of a series of customer and stakeholder interviews, as well as financial analyses to reach a business value justification. The representative interviews and financial analysis found that a composite organization deploying Babel Street's Rosette Name Indexer experienced a significant ROI and short payback, 82% and less than 12 months, respectively.
"There would be no revenue without Rosette. If we didn't have the Rosette API in the mix, we would not have [developed and sold] the solution," remarked an automated compliance solution customer surveyed in the study.
Babel Street acquired Rosette in December 2022, further solidifying the company's commitment to leading-edge AI solutions for threat, identity, and enterprise intelligence. Designed for an optimized user experience, these modules empower organizations with enhanced decision-making tools.
To learn more about the Total Economic Impacttm of Rosette Name Indexer, attend the live webinar on Wednesday, October 18th, where guest speaker, Forrester's Andrew Nadler will present the findings of the study. Webinar registrants will receive a copy of the study.
For more information on how Babel Street can help your organization with its identity intelligence and risk operations, visit http://www.babelstreet.com.
About Babel Street
Babel Street is the trusted technology partner for the world's most advanced identity intelligence and risk operations. The Babel Street Insights platform delivers advanced AI and data analytics solutions to close the Risk-Confidence Gap. Babel Street provides unmatched, analysis-ready data regardless of language, proactive risk identification, 360-degree insights, high-speed automation, and seamless integration into existing systems. We empower government and commercial organizations to transform high-stakes identity and risk operations into a strategic advantage. Babel Street is headquartered in the U.S. with offices near Washington, D.C., and Boston, along with Tokyo, Tel Aviv, London, Canberra, and Ottawa. For more information, visit babelstreet.com.
SOURCE Babel Street
These press releases may also interest you