Fortent Introduces All-in-One Financial Crimes and Compliance Solution
Posted on: Wednesday, 13 May 2009, 08:00 CDT
"We developed Fortent Connect in response to a market need for an
all-in-one financial crimes solution that can deliver great results within
today's tight budgets," says
"Fortent Connect is based on our company's uniquely deep experience helping financial institutions combat financial crime and meet regulatory obligations in markets all over the world," adds Ms. Jaffee. The solution is expressly designed for organizations with limited compliance and in-house technology resources, adds Ms. Jaffee.
This new offering combines essential capabilities - sanctions screening, anti-money laundering (AML) and fraud monitoring, customer risk rating, alert management and regulatory reporting -- into one system. Fortent Connect can be implemented in as fast as 90 days and eliminates the complexity of using multiple suppliers and products to perform this broad range of tasks.
Fortent Chief Technology Officer
Fortent has implemented transaction monitoring, Know Your Customer, and
case management solutions globally in a wide range of financial institutions
over the past decade -- from the largest firms such as JPMorgan Chase,
Barclays and The Bank of Tokyo-Mitsubishi UFJ to smaller institutions such as
the Justice Federal Credit Union in the U.S. and ABSA and Nedbank in
In addition to integrating these functions, Fortent Connect can significantly lower an organization's costs because it uses rules that produce extremely low "false positive" rates and are considered the most effective in the industry. Further, Fortent Connect enables a financial institution to link customer and transaction data across its whole enterprise, so analysts can see activity across multiple processes and business lines.
Fortent has one of the most active user groups in the financial crimes management community. The transaction-based rules available in Fortent Connect reflect the extensive knowledge and learnings of this user community and have been proven to be the best in the industry at detecting suspicious behaviors.
If you would like more information about Fortent or Fortent Connect,
please contact
SOURCE Fortent
Source: PR Newswire
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