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Fortent Expands IBM Relationship by Joining its Software as a Service Specialty

Posted on: Thursday, 18 December 2008, 07:00 CST

NEW YORK, December 18 /PRNewswire/ -- As the financial sector seeks to contain risk and rising compliance costs in the wake of unprecedented industry pressures, Fortent today announced it has joined the IBM Software as a Service (SaaS) Specialty to deliver new anti-money laundering (AML), Know Your Customer (KYC) and fraud systems as cloud services to leading large-and mid-sized financial institutions around the world.

Fortent has been a global specialist in anti-money laundering and regulatory compliance since 1993 and serves 26 of the world's 30 largest financial institutions. Its advanced monitoring and detection technology is endorsed by the American Banking Association and uses a variety of IBM software, hardware and services to deliver the solution including: Tivoli Workload Scheduler, WebSphere Application Server and DB2 Enterprise Database Server, on virtualized IBM System p servers in an IBM e-Business managed hosting facility.

"This teaming helps financial organizations achieve two key goals during this turbulent time in the marketplace: lowering their total costs of compliance while managing risk effectively and efficiently," says Ed Baum, Fortent's Chief Marketing Officer. The collaboration between the two companies began in 1998, he notes. Today Fortent is one of IBM's largest financial crimes and compliance technology partners in the world.

IBM offers hardware, software and infrastructure technologies to help its Business Partners deliver secure and scaleable cloud services.

"SaaS is one of the fastest growing segments of the IT industry because it provides companies of all sizes with access to innovative solutions delivered remotely via a subscription model," said Dave Mitchell, director of strategy, IBM ISV & Developer Relations. "Fortent's commitment to SaaS can provide its customers with a powerful way to reduce implementation costs while rapidly deploying their compliance solutions."

The IBM SaaS Specialty partner program provides valuable benefits, resources, technical enablement and marketing support. In addition, Business Partners gain access to over 40 worldwide IBM Innovation Centers, providing them with technical support and expertise for helping them test, build and optimize cloud services based on open platforms.

About Fortent

Fortent provides risk and compliance solutions to financial institutions, government agencies, and individuals in more than 100 countries. With advanced systems endorsed by the American Bankers Association, Fortent's market-leading technology, information, and training businesses help clients fight financial crime and achieve regulatory compliance throughout their global operations. For more information visit http://www.fortent.com

For more information about Fortent or Fortent's collaboration with IBM, please visit Fortent's website http://www.fortent.com or contact Guy Tarring on +44-7831-611598 or email g.tarring@fortent.com.

SOURCE Fortent

Source: PR Newswire

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