Sword FircoSoft Widens its Presence in Germany's Market With WestLB AG Going Live
Poster: SySAdmin
Posted on May 20, 2010 at 3:07:01 AM
Sword FircoSoft Widens its Presence in Germany's Market With WestLB AG Going Live
PARIS, May 20, 2010-- Sword FircoSoft, the leading global provider of watchlist
filtering solutions announced today that WestLB has selected Sword
FircoSoft's state-of-the-art watchlist filtering solution to fight money
laundering and terrorist financing.
WestLB AG, a European Commercial Bank and one of Germany's
leading financial services provider, opted for Sword FircoSoft's watchlist
filtering solution, Firco Filtering Suite, to filter their SWIFT
transactions.
Firco Continuity, Firco Filtering Suite's module to filter
financial transactions, has been deployed within four weeks at WestLB, which
represented the first phase of the project. The bank is now equipped with
state-of-the-art filtering technology which allows them to filter their
SWIFT transactions in real-time against official sanctions lists like OFAC,
EU, UN, Bundesanzeiger Verlag (Germany) and others.
"We were looking for a highly efficient solution to filter our
in-coming and out-going SWIFT transactions. After narrowing our search to
four providers, the choice for Sword FircoSoft's solution was a logical step,
taking into account the breadth of functionality of Firco Filtering Suite,
its flexibility, its scalability and its short integration time. In addition,
the great involvement and dedication of Sword FircoSoft's team ensured a
successful and smooth deployment of the solution," says Hagen Schaumkell,
WestLB AG Director.
"We are glad to welcome WestLB AG to the ever expanding group
of satisfied Firco Filtering Suite users. The quick deployment of Firco
Continuity is yet another show case of the flexibility of Firco Continuity
and the team behind the product. It allows WestLB AG to detect illegal
transactions and remain compliant with the latest anti-money laundering and
counter-terrorist financing regulations," states Laurent Corbel, Sales
Director, Sword FircoSoft.
About WestLB AG
WestLB AG is a European Commercial bank with firm roots in
North Rhine-Westphalia, Germany's largest federal state. With total assets of
EUR242,3 billion as at December 31,2009, it is one of Germany's leading
financial services providers. It is the central institution for the savings
banks in North Rhine-Westphalia and Brandenburg, and as an internationally
operating commercial bank it acts as their link to the global financial
markets. Working in close partnership with the savings banks, WestLB offers
the full range of products and services of a universal bank, focusing on
lending, structured finance, capital market, asset management, transaction
services and real estate finance. WestLB employs 4,971 staff (as of December
30, 2009). http://www.westlb.de
About Sword FircoSoft
Over 335 financial institutions in more than 55 countries
(representing over 650 sites) are already benefiting from the #1 watch list
filtering solution* provided by Sword FircoSoft.
Sword FircoSoft, provider of multi-alphabet ready filtering
solutions, also offers best-in-class straight through processing and business
intelligence solutions.
For more information about the advantages that Sword FircoSoft
can offer your organisation, please visit http://www.sword-fircosoft.com.
* ranking by Celent since 2003
About Sword Group
Sword Group delivers high value business applications to the
world's largest companies globally. With operations in 37 countries, Sword
today employs over 1700 people and in fiscal year ending December 2009
generated more than EUR180m in consolidated revenue. An international leader
in the delivery of Business Process Improvement solutions, Sword's skills,
infrastructure and experience help our customers across regulated industries
optimize performance, increase efficiencies and maximize return on
investment. With flexible delivery options, including On Demand and On
Premises, combined with our extensive industry expertise, Sword provides
comprehensive support to customers across insurance & healthcare, energy,
banking & finance, telecoms, utilities, engineering & construction and
government.
For more information, please visit http://www.sword-group.com.
Contact for press
Caroline Chochoy
Marketing & Communication Specialist
caroline.chochoy@sword-fircosoft.com
Tel: +33-144-67-24-06
Source: Fircosoft
Contact for press: Caroline Chochoy, Marketing & Communication Specialist, caroline.chochoy@sword-fircosoft.com, Tel: +33-144-67-24-06
PARIS, May 20, 2010-- Sword FircoSoft, the leading global provider of watchlist
filtering solutions announced today that WestLB has selected Sword
FircoSoft's state-of-the-art watchlist filtering solution to fight money
laundering and terrorist financing.
WestLB AG, a European Commercial Bank and one of Germany's
leading financial services provider, opted for Sword FircoSoft's watchlist
filtering solution, Firco Filtering Suite, to filter their SWIFT
transactions.
Firco Continuity, Firco Filtering Suite's module to filter
financial transactions, has been deployed within four weeks at WestLB, which
represented the first phase of the project. The bank is now equipped with
state-of-the-art filtering technology which allows them to filter their
SWIFT transactions in real-time against official sanctions lists like OFAC,
EU, UN, Bundesanzeiger Verlag (Germany) and others.
"We were looking for a highly efficient solution to filter our
in-coming and out-going SWIFT transactions. After narrowing our search to
four providers, the choice for Sword FircoSoft's solution was a logical step,
taking into account the breadth of functionality of Firco Filtering Suite,
its flexibility, its scalability and its short integration time. In addition,
the great involvement and dedication of Sword FircoSoft's team ensured a
successful and smooth deployment of the solution," says Hagen Schaumkell,
WestLB AG Director.
"We are glad to welcome WestLB AG to the ever expanding group
of satisfied Firco Filtering Suite users. The quick deployment of Firco
Continuity is yet another show case of the flexibility of Firco Continuity
and the team behind the product. It allows WestLB AG to detect illegal
transactions and remain compliant with the latest anti-money laundering and
counter-terrorist financing regulations," states Laurent Corbel, Sales
Director, Sword FircoSoft.
About WestLB AG
WestLB AG is a European Commercial bank with firm roots in
North Rhine-Westphalia, Germany's largest federal state. With total assets of
EUR242,3 billion as at December 31,2009, it is one of Germany's leading
financial services providers. It is the central institution for the savings
banks in North Rhine-Westphalia and Brandenburg, and as an internationally
operating commercial bank it acts as their link to the global financial
markets. Working in close partnership with the savings banks, WestLB offers
the full range of products and services of a universal bank, focusing on
lending, structured finance, capital market, asset management, transaction
services and real estate finance. WestLB employs 4,971 staff (as of December
30, 2009). http://www.westlb.de
About Sword FircoSoft
Over 335 financial institutions in more than 55 countries
(representing over 650 sites) are already benefiting from the #1 watch list
filtering solution* provided by Sword FircoSoft.
Sword FircoSoft, provider of multi-alphabet ready filtering
solutions, also offers best-in-class straight through processing and business
intelligence solutions.
For more information about the advantages that Sword FircoSoft
can offer your organisation, please visit http://www.sword-fircosoft.com.
* ranking by Celent since 2003
About Sword Group
Sword Group delivers high value business applications to the
world's largest companies globally. With operations in 37 countries, Sword
today employs over 1700 people and in fiscal year ending December 2009
generated more than EUR180m in consolidated revenue. An international leader
in the delivery of Business Process Improvement solutions, Sword's skills,
infrastructure and experience help our customers across regulated industries
optimize performance, increase efficiencies and maximize return on
investment. With flexible delivery options, including On Demand and On
Premises, combined with our extensive industry expertise, Sword provides
comprehensive support to customers across insurance & healthcare, energy,
banking & finance, telecoms, utilities, engineering & construction and
government.
For more information, please visit http://www.sword-group.com.
Contact for press
Caroline Chochoy
Marketing & Communication Specialist
caroline.chochoy@sword-fircosoft.com
Tel: +33-144-67-24-06
Source: Fircosoft
Contact for press: Caroline Chochoy, Marketing & Communication Specialist, caroline.chochoy@sword-fircosoft.com, Tel: +33-144-67-24-06