At the SIDE Regional Conference in Dubai, Luc Delbrassinne, CEO of the SIDE Group, announced the launch of a "modular profiling" module to extend SIDE's Watch Lists Filtering solution: SIDE SafeWatch.
The announcement was made in front of a panel representing some of the most influential banks in the Middle-East.
The success of SIDE SafeWatch increases continuously: more than 200 customers in over 70 countries use SIDE SafeWatch to filter millions of transactions every day.
With a strong expertise built in enterprise compliance solutions, and with the highest number of references in the market, SIDE International can now state that SIDE SafeWatch is clearly recognized as the absolute must in AML detection worldwide.
The modular "profiling" for SIDE SafeWatch targets institutions that do not need a full-fledged profiling solution, but still want to implement best practices in risk-based KYC and transaction monitoring.
"Our expertise in AML came from customer feedback, and the demand for profiling also came from our customers. While some banks need a full profiling solution, most institutions only need a fraction of full profiling capabilities. For them, investing in a large solution at once, with a long implementation time, is a costly overload. We will provide them with a high 'modular' quality solution that addresses their needs, at a fraction of the cost", says Luc Delbrassinne.
SIDE International expects the first implementations of this module by the end of 2006.