(PRWEB) January 24, 2005
London, Singapore, China and Australia- Through the new relationship, STB-Detector customers will be able to purchase directly STBÂs anti money laundering and transaction trend monitoring software STB-Detector from Decillion.
The agreement covers sales and installation of STB-Detector by Decillion in Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, Australia, New Zealand and China (including Hong Kong).
Decillion provides a unique range of products and services to the financial services industry. In addition, Decillion is also the official S.W.I.F.T. Business Partner and Service Partner for South East Asia and Australasia and has a competent team of certified consultants to perform implementation, training, support and consulting services for S.W.I.F.T and other products such as STB-Detector.
STB's proprietary anti money laundering system, STB-Detector, 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
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 Decillion explained, the agreement forms part of DecillionÂs strategy to provide the best of breed solutions to its customers; ÂInternational regulations mean that all 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 DecillionÂs expertise in the ASPAC region will enable 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 Decillion will provide sales and installation services to the region for STB-Detector. Decillion has an impressive reputation in the region and now with the strength of NEC behind Decillion this is a very strong base for our solutions.Â
About Decillion Solutions Group
The Decillion Solutions Group is headquartered in Singapore with offices in Kuala Lumpur, Bangkok, Sydney and a representative office in Jakarta with a new subsidiary in Shanghai in late 2004.
Decillion Solutions is a niche banking IT company with a sharp focus on providing 'best of breed' banking applications, SWIFT Service Bureau, Payment Systems, Trade Processing and 'Straight Through Processing' (STP) solutions to financial institutions in Asia Pacific Region.
Decillion is recognised as the official Business Partner and Service Partner of SWIFT for Southeast Asia and South Pacific region with an established record of over 300 successful SWIFT Alliance Installations and service provision to more than 100 banks and financial institutions.
"Provide a boutique of 'Best of Breed' solution for financial institutions."
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 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 six 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.
45 Curlew Street
Tel: +44 (0)20 7403 2188
Fax: +44 (0)20 7403 4425
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