The team and the idea
behind Varangian.

Varangian is a comprehensive AML/CFT risk management platform currently under development. Designed as a unified umbrella solution, it brings together multiple specialised modules that collectively form the Varangian platform - an AML/CFT shield for your organisation.

Inspired by the legendary Varangian Guard - a name that stands for ultimate, incorruptible protection of the empire - this quantitative AML model acts as the modern-day financial vanguard, designed to aggressively defend institutional integrity against illicit networks.

At this point, the Varangian platform has one complete and fully operational module: Atlas AML, launched in June 2026. This module addresses the geographical risk aspects of AML/CFT through comprehensive country risk assessments covering all countries and territories worldwide.

We engineered Atlas AML - a digital Titan of geographical risk assessment - to hold up the world of global compliance, transforming dynamic geopolitical threats into a well-structured and mathematically sound country risk assessment model.

Atlas AML is available as a web application and can be used either as a standalone external data source or integrated into an organisation's internal systems via API integration (available upon request; additional charges apply).

The other modules currently in the development pipeline are intended to address the remaining key AML/CFT risk areas:

• Heimdall AML - client, product and channel AML/CFT risk factors (static assessment);
• Perun AML - enterprise-level self-assessment of exposure to AML/CFT risks; and
• Hermes AML - transactional AML/CFT risks (dynamic assessment).

These modules are currently in the pre-development phase, with primary focus placed on the design of methodological frameworks, risk assessment models, and functional specifications.

All modules (Atlas, Heimdall, Perun and Hermes) are intended to function as standalone solutions while also forming an integrated platform that enables synergies between individual modules.

The development of additional modules will depend on the results of ongoing market research and will be subject to our internal prioritisation process. Consequently, the timing and pace of future development activities are still under assessment.

The Varangian platform and all its modules are developed by Eagle Consulting, a consulting company based in Belgrade, Serbia. Established in July 2022, Eagle Consulting primarily provides advisory services to clients within the financial services industry, with a particular focus on banks.

In addition to its extensive experience in the banking sector, the company has worked with a wide range of other financial services institutions, including cryptocurrency businesses, microfinance organisations, leasing companies and NPL management companies.

The advisory services we provide span a wide range of business and regulatory topics, and are organised into our core service lines:

Risk Management Advisory is our principal area of specialisation. Through numerous engagements across the financial services sector, we have developed extensive expertise in Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), Credit Risk, Market Risks, and Liquidity Risk management.

Recently, we made the strategic decision to expand our business model beyond traditional advisory services and enter the field of product development, with the goal of becoming an end-to-end provider of technical solutions. The Atlas AML module, as part of the Varangian platform, represents our pioneering project in this reshaped business model.

The concept for Varangian was born through the numerous AML/CFT advisory engagements we have successfully delivered to clients across the region. Drawing on the insights and experience gained through these projects, we identified an opportunity to further enhance the quality of support we provide and offer our existing and prospective clients a new, technology-driven model of cooperation.

Throughout the development of Atlas AML, our team demonstrated an exceptional level of commitment, professionalism and engagement. We are pleased to report that all project objectives and delivery expectations were fully met, and in many respects exceeded. Phase 1 of the project (Atlas AML) was successfully completed in record time - one week ahead of the original deadline of 30 June 2026.

We would like to take this opportunity to express our sincere gratitude to all project team members whose dedication, expertise and hard work made this achievement possible.