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Euronet (EEFT) Unit Unveils Tool to Aid Regulation Compliance
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Euronet Worldwide, Inc.’s (EEFT - Free Report) business unit, epay, recently introduced a cloud-based platform, Skylight. The innovative solution is built on the power of analytics and eases the detection of compliance issues cropping up amid regulated financial transactions occurring within money services businesses like retailers, digital banks and fintech.
Shares of Euronet gained 0.3% on Apr 6.
While the new platform can be presently availed across the Microsoft Azure and AWS marketplaces, future versions of the same will be available for other cloud platforms. Though the scope of Skylight has been initially restricted to transaction monitoring in the United States, its reach will gradually be expanded to other parts of the world.
The solution processes expanding and diversified transactions taking place within the modern payments landscape and subsequently, unfolds any fraudulent or criminal undertaking in the compliance investigation procedure. Suspicious transactions are easily identified by compliance professionals with the help of an alert produced by Skylight. The efficiency of the solution also eases the submission of a one-click Suspicious Activity Report by compliance professionals to the Financial Crimes Enforcement Network of the United States Department of the Treasury (“FinCEN”).
In addition to transaction monitoring capabilities, the newly launched solution is also infused with compliance program management and real-time risk mitigation prowess. Skylight leverages a tailored compliance rules wizard that makes use of instinctive user interfaces.
As a result, compliance analysts do not need to write or modify any code nor do they need to depend on internal IT or other departments for compliance rules construction and refinement processes. This feature aims to minimize the intricacies and exhaustion of significant resources, which are otherwise required to perform the processes.
The latest announcement reflects Euronet’s sincere efforts to expand the product portfolio of its segments and bolster its global presence. The extensive global retailer and merchant network enjoyed by the epay segment is expected to further accelerate the utilization of Skylight. Consequently, the performance of epay, the segment that contributed the second most revenue to EEFT’s top line in 2022, will receive a boost.
Rolling out of a platform like Skylight also seems to be a time opportune move on the part of Euronet, considering the growing inclination of consumers toward digital transactions. But the digitization trend also invites the need for navigating continually evolving fraud threats. Organizations also remain under constant pressure to come up with enhanced compliant management systems amid the changing regulatory landscape, non-pursuit of which might impose heavy penalties on companies and erode significant profits.
Shares of Euronet have surged 44.2% over the past six months compared with the industry’s 2.2% growth. EEFT currently carries a Zacks Rank #2 (Buy).
Main Street Capital’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.37%. The Zacks Consensus Estimate for MAIN’s 2023 earnings suggests an improvement of 18.5%, while the same for revenues suggests growth of 26% from the corresponding year-ago reported figures. The consensus mark for Main Street Capital’s 2023 earnings has moved 7.7% north in the past 60 days.
The bottom line of OFS Capital outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 15.12%. The Zacks Consensus Estimate for OFS’s 2023 earnings and revenues indicates rises of 17.1% and 19.8%, respectively, from the corresponding year-ago reported figures. The consensus mark for OFS Capital’s 2023 earnings has moved 5.1% north in the past 60 days.
Trinity Capital’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.37%. The Zacks Consensus Estimate for TRIN’s 2023 earnings suggests an improvement of 7.5%, while the same for revenues suggests growth of 17.6% from the corresponding year-ago reported figures. The consensus mark for Trinity Capital’s 2023 earnings has moved 9% north in the past 60 days.
Shares of Main Street Capital and OFS Capital have gained 20.6% and 16.1%, respectively, in the past six months. However, the Trinity Capital stock has lost 7.5% in the same time frame.
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Euronet (EEFT) Unit Unveils Tool to Aid Regulation Compliance
Euronet Worldwide, Inc.’s (EEFT - Free Report) business unit, epay, recently introduced a cloud-based platform, Skylight. The innovative solution is built on the power of analytics and eases the detection of compliance issues cropping up amid regulated financial transactions occurring within money services businesses like retailers, digital banks and fintech.
Shares of Euronet gained 0.3% on Apr 6.
While the new platform can be presently availed across the Microsoft Azure and AWS marketplaces, future versions of the same will be available for other cloud platforms. Though the scope of Skylight has been initially restricted to transaction monitoring in the United States, its reach will gradually be expanded to other parts of the world.
The solution processes expanding and diversified transactions taking place within the modern payments landscape and subsequently, unfolds any fraudulent or criminal undertaking in the compliance investigation procedure. Suspicious transactions are easily identified by compliance professionals with the help of an alert produced by Skylight. The efficiency of the solution also eases the submission of a one-click Suspicious Activity Report by compliance professionals to the Financial Crimes Enforcement Network of the United States Department of the Treasury (“FinCEN”).
In addition to transaction monitoring capabilities, the newly launched solution is also infused with compliance program management and real-time risk mitigation prowess. Skylight leverages a tailored compliance rules wizard that makes use of instinctive user interfaces.
As a result, compliance analysts do not need to write or modify any code nor do they need to depend on internal IT or other departments for compliance rules construction and refinement processes. This feature aims to minimize the intricacies and exhaustion of significant resources, which are otherwise required to perform the processes.
The latest announcement reflects Euronet’s sincere efforts to expand the product portfolio of its segments and bolster its global presence. The extensive global retailer and merchant network enjoyed by the epay segment is expected to further accelerate the utilization of Skylight. Consequently, the performance of epay, the segment that contributed the second most revenue to EEFT’s top line in 2022, will receive a boost.
Rolling out of a platform like Skylight also seems to be a time opportune move on the part of Euronet, considering the growing inclination of consumers toward digital transactions. But the digitization trend also invites the need for navigating continually evolving fraud threats. Organizations also remain under constant pressure to come up with enhanced compliant management systems amid the changing regulatory landscape, non-pursuit of which might impose heavy penalties on companies and erode significant profits.
Shares of Euronet have surged 44.2% over the past six months compared with the industry’s 2.2% growth. EEFT currently carries a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Other Stocks to Consider
Some better-ranked stocks in the Finance space are Main Street Capital Corporation (MAIN - Free Report) , OFS Capital Corporation (OFS - Free Report) and Trinity Capital Inc. (TRIN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Main Street Capital’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.37%. The Zacks Consensus Estimate for MAIN’s 2023 earnings suggests an improvement of 18.5%, while the same for revenues suggests growth of 26% from the corresponding year-ago reported figures. The consensus mark for Main Street Capital’s 2023 earnings has moved 7.7% north in the past 60 days.
The bottom line of OFS Capital outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 15.12%. The Zacks Consensus Estimate for OFS’s 2023 earnings and revenues indicates rises of 17.1% and 19.8%, respectively, from the corresponding year-ago reported figures. The consensus mark for OFS Capital’s 2023 earnings has moved 5.1% north in the past 60 days.
Trinity Capital’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.37%. The Zacks Consensus Estimate for TRIN’s 2023 earnings suggests an improvement of 7.5%, while the same for revenues suggests growth of 17.6% from the corresponding year-ago reported figures. The consensus mark for Trinity Capital’s 2023 earnings has moved 9% north in the past 60 days.
Shares of Main Street Capital and OFS Capital have gained 20.6% and 16.1%, respectively, in the past six months. However, the Trinity Capital stock has lost 7.5% in the same time frame.