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Notiziario Marketpress di
Mercoledì 24 Marzo 2004
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Pagina5 |
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SOCIÉTÉ GÉNÉRALE SELECTS IBM AND SEARCHSPACE FOR ENTERPRISE ANTI MONEY LAUNDERING |
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Segrate, march 24rd, 2003 – Société Générale announced the selection of an Anti Money Laundering (Aml) solution from Ibm and Searchspace. The solution will provide systematic screening of all of the banks transactions across all of its retail lines of business in order to automate the detection of suspicious activity. Money laundering is estimated to be worth between 2-5% of the world’s economy[1] and is regarded as the lifeblood of terrorist financing. The last two years have seen enormous efforts from around the globe in order to tackle this problem and improve the basis for suspicious activity reporting. “We have enhanced our Anti Money Laundering program for the past few years. However the ever-increasing complexity of this problem has convinced us of the need to introduce scaleable and automated technology,” said Gilles Leflambe, Evp Banking Services, Société Générale. “We chose Ibm and Searchspace technology because their Anti Money Laundering product is proven to be scalable enough to deal with multiple lines of business and capable of handling millions of transactions per day.” Searchspace now monitor over 250 million accounts a day from all over the globe. Searchspace software enables organizations to automatically interpret and act upon vast amounts of data assisting regulatory compliance, risk mitigation and brand protection. Every transaction is monitored for unusual activity, immediately notifying compliance staff about those that may require further investigation and providing them with an evidential audit to effectively manage the compliance process. Advanced detection technology enables the capture of both known and unknown patterns of suspicious behaviour. “Anti Money Laundering has become a top priority for the financial services industry. Société Générale needed a solution that is scalable, proven across all banking products, and that is capable of dynamically keeping pace with patterns of money laundering,” said Jason Kingdon, Ceo of Searchspace. “After a rigorous procurement process with multiple vendors they selected Searchspace as the supplier capable of offering all of these attributes.” Société Générale joins a growing group of top tier banks from around the globe that have chosen Searchspace for Aml. This further consolidates Searchspace as the leading solution for large-scale banking. “It is essential for financial services organizations to be able to fully understand risk and proactively manage transactions that could represent money laundering behaviour,” said Bertrand Le Bras, practice area leader, Ibm Business Consulting Services. “This solution will not only enable Société Générale to do this, but our extensive experience and rapid implementation methodology will allow them be able to do so in record time.” Ibm Business Consulting Services are leading the strategy, planning and integration of the Searchspace solution within Société Générale’s technology infrastructure. Ibm provides rapid implementation of Searchspace products based on their Global Strategic Alliance and Ibm’s extensive experience in deploying Searchspace technology at other institutions.
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