Compliance Watch includes software from FircoSoft SA and Northland, and is initially aimed at existing Midas users.

Roger Hedges, Midas product marketing manager says: "We have been able to bring Midas Compliance Watch to market very quickly, using both Misys technology and best-of-breed software from selected partners."

The package covers three key areas: Watch list checking (such as the USA’s Office of Foreign Assets Control (OFAC) list of known terrorists and criminals); suspicious activity monitoring; and due diligence/know your customer rules. A case management tool enables banks’ compliance officers to follow up on any suspect transactions.

The new functionality is being demonstrated at the Swift show in Geneva this week and will be available for first client delivery from the end of the year, says Hedges.

Ultimately, the application will be rolled out across other Misys banking solutions and may further extend to cover other areas of banking regulation in the future, he adds.