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Compliance Reporting and AML Market Leader at First Complitech Conference
UK-based STB Systems Limited is exhibiting at the Complitech event at the QEII Centre, London, 27 and 28 May 2004 (www.complitech.co.uk). The company will be demonstrating the latest versions of its products, STB Reporter and STB Detector.
London, England (PRWEB) May 27, 2004 --- STB Systems Limited, the UK-based market leader in financial regulatory, compliance and Anti-Money Laundering (AML) systems is exhibiting at the Complitech event at the QEII Centre, London, 27 and 28 May 2004 (www.complitech.co.uk). The company will be demonstrating the latest versions of its market-leading products, STB Reporter and STB Detector.
STB has picked up a plethora of recent orders and awards, cementing its position as the leading supplier in the markets. Recent signings for the company's technology include; FIMAT International Banque S. A., IFX Markets, Bank Sepah International Plc (BSIP), Bank of Beirut (UK) Ltd, Williams De Broe, Portman Building Society, Islamic House of Britain Plc and a major Indian Bank who all join the growing number of UK clients implementing STB Systems' software. In addition, a Luxembourg subsidiary of an American bank selected STB-TaxMan to provide a centralised solution to satisfy UK Inland Revenue reporting requirements.
With the results of the recent report from Celent Communications (www.celent.com) entitled "Ranking the Vendors of Anti-Money Laundering Solutions" that ranked STB highly as a major vendor for small to medium sized financial institutions, sales of STB-Detector have proved encouraging. Celent estimates that within the next 3 years 76 percent of mid-tier and 49 percent of small firms will have implemented new AML technologies. According to Celent Senior Analyst, Neil Katkov, "Anti-money laundering software solutions are becoming critical to financial institutions".
"Having closed substantial deals in Europe, New York, Hong Kong and Singapore, we are helping a large number of financial institutions to meet stringent AML & regulatory regulations and protect their organisations against reputational damage," said Michael Thomas, CEO for STB Systems. "We have wong many contracts in competitive bid situations and remain optimistic about IT spending in 2004."
About STB Systems
STB is one of the world's leading vendors of automated compliance reporting solutions for the financial markets. Founded in 1984, STB is the market leader with offices in London, New York, Hong Kong and Singapore.
STB's solutions are designed to automate the presentation of critical controls that protect banking businesses, handling both internal and external reporting to satisfy relevant regulatory bodies. The company is one of just five approved by the Bank of England for elecgtronic reporting.
STB's solutions control and consolidate multiple data sources. The use of rules-based technology ensures a stable product, and allows for development of new solutions quickly and efficiently to meet the constantly changing demands of regulatory, management, risk and other compliance reporting.
STB's core competence has led to new products for its customers, including the development of an anti-money laundering system. www.stbsystems.com
For further information please contact:
Ray Jones
Media Link
+44 118 984 3386
ray@medialink.co.uk
Tony Hauton
STB Systems Limited
+44 20 7403 2188
tony.hauton@stbsystems.com
Photographs available on request
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