Criminal activity changes over time, but we know we can modify STB-Detector in order to keep up with those changes
London, United Kingdom (PRWEB) January 18, 2009
Lombard Risk, the second largest global provider of specialised solutions that improve the management of regulatory compliance and collateralised trading, today announced a new release of STB-Detector®, a global financial compliance solution for mid-sized financial institutions. STB-Detector offers the most comprehensive, proactive AML, fraud and market abuse detection with advanced event checking to improve the management of an institution's unique risk policies and address the ever changing regulatory requirements.
As criminals are constantly changing their ways, a tremendous amount of effort goes into tracking and investigating unusual transactions leaving very little time left to even think about keeping up with global regulations. Further, given today's challenging market conditions, compliance officers and other bank resources at mid-market financial service organisations are stretched to the limits. STB-Detector helps combat the major challenges facing compliance officers today of identifying potential crime exposure based upon their unique risk-based policies and capturing all of the vital information needed to support investigations. STB-Detector's advanced event checking delivers specific red flag alerts with detailed data to enable Compliance Officers to guard against money laundering risks, potential terrorist financing activity, and other fraudulent transactions to protect their financial institutions from financial loss and reputational harm.
By automating a financial institution's unique risk-based policies, STB-Detector delivers sets of highly specific red flag information into a single view. A wide array of details, of all aspects of a case, are presented within one console, ensuring accelerated evaluation and close out. "Criminal activity changes over time, but we know we can modify STB-Detector in order to keep up with those changes," commented David Dilkes, operational risk manager at West Bromwich Building Society.
"I'm delighted that we've expanded our STB-Detector solution to solve a broader range of global money laundering risks and other financial crime challenges for our clients," said John Wisbey, CEO of Lombard Risk. "This latest release of STB-Detector will enable Lombard Risk to continue our remarkable year of growth by allowing our clients to further augment their KYC, KYE and KYB compliance risk management programmes with a robust and flexible solution that automates unique policies, quickly and out-of-the-box, to allow for more integrated and transparent monitoring, case management and FIU reporting."
STB-Detector is a global financial compliance solution that delivers a proactive approach to AML, fraud, and market abuse financial crime management for smaller and mid-sized institutions. STB-Detector automates the process of identifying, analysing, and reporting activity potentially related to financial crime, minimising the risk of exposure to lawsuits, substantial fines, regulatory censure and reputational harm. STB-Detector is unmatched for its intelligent proactive monitoring, powerful centralised console and flexible reporting capabilities and was recently ranked 4th out of the top 20 AML vendors by IBS Publishing.
About Lombard Risk
Lombard Risk is the 2nd largest global provider of software solutions that improve the management of collateralised trading and regulatory compliance. Our solutions mitigate the global challenges of managing collateralised trading and improving regulatory financial compliance so our clients can stay a step ahead of complex trading demands, increasing regulatory challenges, growing financial crime risks, complex market conditions and a host of other changing financial compliance mandates.
Founded in 1989, and headquartered in London, Lombard Risk has worldwide offices in New York, Shanghai, Hong Kong, Singapore and Johannesburg. We currently serve over 300 clients including 20 of the world's top 50 banks and numer¬ous financial businesses including nearly half of the 340+ banks operating in the UK, as well as several industry leading investment firms, asset managers, hedge funds, fund administrators, and large corporations worldwide.
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