| Next development of the SMARAGD product family - the Anti-Finance Crime Suite |
- All-in-one solution for combating financial crime
- Focuses on an all-round, risk-based approach
- SMARAGD MDS Monitoring & Detection System supersedes S/Research
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Stuttgart/Germany, July 7 2009 - With its new SMARAGD Anti-Finance Crime Suite, Cellent Finance Solutions AG has bundled the solutions from the SMARAGD range into an integrated, all-in-one package for combating financial crime. This new development was realized in line with international standards and European legislation based on an holistic, risk-based approach. A new, standardized and internationally viable name assures the conciseness and distinguishability of the individual products. The suite currently comprises six solutions for combating different aspects of financial crime, such as money laundering, financing of terrorism and insider trading at financial service providers and insurance companies. The new systems have already been successfully rolled out at major international banks. The successor version of the mainstream solution, launched in 2000 under the name S/Research and continually developed ever since, now enters the market as SMARAGD MDS 4.0.
With its SMARAGD Anti-Finance Crime Suite, Cellent Finance Solutions AG offers a multitude of modules and functions for a state-of-the-art, integrative and centralized combating of money laundering and fraud in the globalized world of finance. The company has condensed more than ten years' experience in combating financial crime into an integral product strategy developed at the cost of several million euros. Werner Guderlei, Head of Financial Crime Solutions at Cellent Finance Solutions, reports on the first experiences with the new product suite: "Several renowned, internationally operating private banks have already implemented the SMARAGD Anti-Finance Crime Suite. The feedback following the pilot phase has exceeded our, admittedly high, expectations. Customers have confirmed a significant enhancement in functionality compared to the predecessor solution, which is reflected in particular in optimized usability and a lower false-positives rate."
The six components of the SMARAGD Anti-Finance Crime Suite seamlessly mesh together and consistently reproduce the risk-based approach as stipulated in the 3rd EU Money Laundering Directive. The consistent look & feel and intuitive user navigation pave the way for efficient workflows. The new user interface enables the user to switch languages, and even supports exotic calligraphic languages, such as Chinese or Japanese. The new succinct name for the individ-ual components does justice to this development and underlines the character of a global leader solution in the standard software sector with a globally viable nomenclature.
The SMARAGD MDS 4.0 monitoring & detection system is designed for combating money laundering at finance institutes. It is the direct successor to the well-known standard software S/Research, which was launched back in the year 2000. SMARAGD MDS fulfils European government and supervisory authority regulations. It supports the risk-based approach laid down in the third EU Money Laundering Directive and elsewhere, as well as international know-your-customer principles (KYC).
The SMARAGD CRS compliance risk system forms the basis for comprehensive, group-wide risk and threat analyses for the prevention of financial crime. To monitor embargo obligations and financial sanctions, the product suite incorporates the component SMARAGD TCM (Transaction Controlling & Monitoring). SMARAGD FPD (Fraud Prevent & Detect) and SMARAGD PEP (Politically Exposed Person Analyzing) round off this product range for implementing international money laundering and embargo requirements. With SMARAGD SIT (Securities Insider Trading), the suite also features a solution for monitoring securities transactions and combating insider trading.
Contact:
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, Head of Financial Crime Solutions
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