(PRWEB) September 17, 2004 - London, England
Through the new relationship, Lynx customers will be able to interface directly with STBÂs anti money laundering and transaction trend monitoring software STB-Detector, without the need for additional systems.
STB-Detector, STB's proprietary anti money laundering system, provides a comprehensive addition to the defences of any financial institution. The system has four modules: Suspicious Activity Monitoring, Account Opening Due Diligence, Watch List Monitor and Investigations.
These modules provide extensive coverage of all the key areas of compliance. Account movements can be checked against historical and peer group patterns, and against a variety of absolute and flexible thresholds. Account opening "Know-Your-Customer" procedures are enhanced and documentation renewal reminders can be generated. Customer databases and payments may be checked against any number of internal and external sanctions lists.
As John Mosedale, managing director for Lynx Wealth Management Systems explains, the agreement forms part of LynxÂs strategy to provide the best of breed solutions to its customers; ÂInternational regulations mean that all wealth management institutions are now required to check their clients for anti money laundering and transaction trend monitoring. STB-Detector is quite simply the best solution in the market and this combined with the simple interface with our 4Series system enables our customers to easily benefit from the STB solution.Â
STB-Detector is fast establishing itself as a global solution to money laundering controls with installations in New York, London, Hong Kong and Singapore.
Commenting on the agreement, Michael Thomas, Group CEO at STB Systems said, ÂWe are delighted that Lynx has chosen our STB-Detector system to partner with. Lynx and its 4Series wealth management product suite have an impressive reputation in the marketplace and we look forward to working with them in the future.Â
About Lynx Wealth Management Systems
Lynx Wealth Management Systems is the premier software solutions provider for the wealth management industry. Established in 1984, the company has 20 years experience in providing its services to over 200 customers in more than 20 jurisdictions, including international banks, trust and company administrators and fund managers.
Lynx currently has more than 100 staff in five locations Â Southampton, Guernsey, the Isle of Man, Dallas and the Cayman Islands. The Lynx 4Series wealth management suite is a proven and robust solution for all financial institutions, ranging from the largest multi-national operation to the two-man practice.
Lynx Wealth Management Systems is part of Lynx plc.
For more information, visit http://www.lynx-wms.com
STB is one of the world's leading vendors of automated compliance reporting solutions for the financial markets. Founded in 1984, STB has offices in London, New York, Hong Kong & Singapore. STB's solutions are designed to automate the critical controls that protect financial institutions, handling internal & external reporting to satisfy the relevant regulatory bodies and assist in compliance with anti money laundering procedures. The company is one of just five recognised by the Bank of England for electronic reporting and works closely with many other respected industry bodies. STB's core competence puts them at the forefront of regulatory & compliance technologies, offering best of breed solutions for their customers.
For further information please contact:
Head of Marketing
Lynx Wealth Management Systems
+44 (0)23 8068 7014 (DDI)
Pauline Mason / Lynne Goddard
+44 (0)118 939 5900
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