Actimize and Albridge team for broker compliance platform
28 June 2006 | 2496 views | 0
Actimize Inc., a global provider of risk and compliance solutions, and Albridge Solutions Inc., a leading provider of enterprise data management (EDM) and web-based portfolio accounting and performance reporting solutions, today announced they have teamed to provide financial institutions with enhanced brokerage compliance automation capabilities.
Albridge's Replicated Data Service will provide consolidated customer account data to the Actimize Brokerage Compliance and Anti-Money Laundering solutions, which will help financial institutions accelerate time-to-market in implementing a compliance monitoring solution. Advanced Equities, Inc. is the first customer that will implement the combined Albridge and Actimize solution.
"Today's regulatory environment requires that financial consultants are armed with state-of-the-art, integrated technology solutions capable of driving efficiency through their business," said Adam Antoniades, President, Advanced Equities. "Both Actimize and Albridge are clear leaders in their respective specialties. The integration of their two platforms provides our advisors with an enormous advantage versus the competition and enables our organization to zero in on potential compliance issues faster and more efficiently."
The Actimize Compliance Solution suite provides monitoring of institutional and retail brokerage transactions for exceptions to regulatory guidelines and company policies. The suite consists of trading compliance and anti-money laundering solutions and includes an interactive trade blotter, as well as surveillance of trades, accounts, representatives, and branch reviews.
Additionally, the Actimize suite is built on a common technology platform that provides real-time and batch transaction monitoring, a graphical modeling tool that makes it easy to update compliance rules and scenarios, and an integrated case manager for alert management and case workflow management.
The Albridge Replicated Data Service provides consolidated, cleansed information for investor, account and portfolio holdings. The service provides financial institutions with a daily data file that is delivered through a secure connection. Clients can then access the data and load it into a proprietary or third-party compliance application. Providing an element of straight-through processing to the compliance monitoring process eliminates integration, maintenance and integrity issues that can result when working with multiple data sets, and also delivers an efficient solution for addressing the challenges that manually intensive processing and high data error rates can present.
"The unique Actimize architecture provides the flexibility to adapt to a customer's data infrastructure, simplifying and speeding implementations. Working with Albridge will allow Actimize to provide even greater value to customers and reduce implementation times even further," said Ron Greenberg, Actimize Executive Vice President of Marketing and Business Development.
"This relationship reflects Albridge's focus on delivering high-quality enterprise data management solutions that help financial institutions and advisors increase efficiencies," said Scot Hosler, Vice President, Enterprise Services, Albridge Solutions. "The integration of our Replicated Data Service with Actimize's technology provides financial institutions with convenient access to a robust, end-to-end compliance solution."
"The Actimize Compliance Solution, combined with Albridge's Replicated Data Service enables advisors, OSJs, and broker-dealers to efficiently meet their full compliance monitoring needs, and dedicate more time to building relationships," Greenberg said.