Combined Offering Provides Powerful Financial Crime Blocking
THE HAGUE, The Netherlands, December 21 /PRNewswire/ -- NetEconomy, the
global leader in financial crime management and compliance solutions, and a
business unit of Fiserv, Inc. (NASDAQ:FISV), today announced that it has
signed a strategic OEM agreement with FircoSoft, the leading provider of
watchlist filtering solutions. NetEconomy plans to embed FircoSoft's
OFAC-Agent Suite solution within its Compliance Manager anti-money
laundering solution to deliver an integrated, comprehensive and
high-performance offering to global financial institutions.
The integration of FircoSoft's watchlist filter will offer additional
powerful functionalities to enhance NetEconomy's award-winning solutions.
The seamless integration will allow fast delivery to financial institutions
of a complete best-in-class solution to address each part of a compliance
risk management program.
"NetEconomy's award-winning transaction monitoring and case management
environment combined with FircoSoft's world-class watchlist filtering
solution provides an exceptional high-performance platform for global
financial institutions to mitigate risk in order to meet regulatory
requirements and effectively fight financial crime," said Jean Losco,
Executive Director, of FircoSoft. "With several implementations already
underway it is an excellent start to what we believe will be very rewarding
partnership."
"NetEconomy chose FircoSoft because of its proven experience delivering
superior market leading solutions to a substantial customer base," said
Peter Kwakernaak, Chief Commercial Officer, of NetEconomy. "We are very
pleased with this agreement and also the added value, flexibility and
protection our synergy will provide for our customers and global financial
institutions."
FircoSoft's OFAC-Agent Suite filters any payment messages, including
SWIFT, and customer information against any combination of sanctions/PEPs &
FEPs (Politically Exposed Persons & Financial Exposed Persons) lists. When
a match is found, an alert will be generated and routed within the
NetEconomy system. In addition to watchlist filtering with FircoSoft,
NetEconomy's robust system uses multiple detection scenarios, behavioral
profiling and rules to monitor all financial transactions such as cash
deposits and wire transfers, and alerts its users to the appearance of
suspicious activity. Once suspicious activity has been identified, a
step-by-step workflow with built-in case management drives users through
investigation, case tracking and reporting within one fully integrated
environment.
About FircoSoft
Founded in 1992, FircoSoft offers watch list filtering solutions for
international financial institutions. FircoSoft develops markets and
supports OFAC-Agent Suite to eliminate the risk of processing illegal
transactions and detect high-risk financial customers. Over 315
institutions in more than 50 countries (representing 650 sites) use
FircoSoft's Watch List Filtering solutions which are multi-alphabet ready.
FircoSoft has been ranked #1 WatchList filtering solution since 2003 by
Celent. FircoSoft is a SWORD Group Company (Euronext FR0004180578 - SWP).
For more information, please visit http://www.fircosoft.com.
About SWORD Group
The SWORD Group is an International IT Products and Services Company
that was founded in December 2000 by its Chairman, Jacques Mottard.
Jacques' vision is for SWORD to become the best performing global Product
and Services Company by identifying, anticipating and satisfying customer
requirements whilst delivering profitability year on year and returning
exceptional value to all stakeholders. As at the end of July 2007 SWORD
employed 1,700 staff across 14 countries, with a 2006 turnover of EUR 142m.
For more information, please visit http://www.sword-group.com.
About NetEconomy
NetEconomy, based in The Hague, with offices in London, Paris, Boston,
New York, Sydney, Shanghai and Kuala Lumpur, Malaysia, and distributors and
strategic partners across South Africa, Australia, Europe, Southeast Asia
and the United States, is the leading provider of financial crime
management and compliance solutions. With more than 140 implementations
across 60 countries, NetEconomy brings business value to its worldwide
client base through its personalized customer approach for minimizing
regulatory risk, delivering measurable results and protecting corporate
brand and reputation. For more information, please visit
http://www.neteconomy.com. For more information on NetPractice, visit
http://www.netpractice.org.
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