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Cellent signs GRZ IT to anti-money laundering technology

24 May 2007  |  2210 views  |  0 Source: Cellent Finance Solutions

The co-operative data center in Linz in Upper Austria, GRZ IT Center GmbH, has decided in favor of the S/Research software from Stuttgart-based Cellent Finance Solutions AG.

GRZ IT Center acquires the right of use for the Upper Austria, Tyrol and Kärnten state co-operative banks, as well as for affiliated independent co-operative banks and Raiffeisen co-operatives that provide banking services. S/Research enables GRZ IT to provide the institutes in its care with powerful functions to monitor payment transactions for money laundering activities or finance fraud. The client-capable software solution is installed centrally, and can be adapted by every institute in line with its specific needs and requirements.

Cellent Finance Solutions AG was awarded the contract by GRZ IT, thus consolidating its strong market position as the leading provider of software for combating money laundering and fraud at finance institutes. CEO Thomas Wild comments on the signing of the agreement: "The European finance industry is being made increasingly aware of the risks of financial crime. The legality of transactions can only be assured to the greatest extent possible through a consistently automated monitoring of all payment transactions for breaches of money laundering guidelines, finance sanctions or embargo obligations. Cellent Finance Solutions AG addresses this growing market need with proven, first-class solutions that are deployed by leading finance institutes world-wide. The fact that we were able to win the GRZ IT international tender is further proof that our solutions reliably cover varied specialist requirements in a highly complex environment."

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