Cicada has announced the next version upgrade of the company’s Cicada Profiler software, a packaged solution for anti-money laundering and Know Your Customer (KYC) data management requirements.
The software is designed to bring improved collaboration, control and centralization to customer identification and risk-based due diligence processes. Version 1.4 is available for production installation in Q3 of this year.
The release focuses on increased integration with third-party data used in the KYC review process. Greater integration with third-party services provides users with a number of benefits, including the ability to request client-related data from third-party sources through Profiler, and to request real-time OFAC and sanctions list checks from their list matching providers.
Users will be able to process alerts, updates and other news from third-party sources in conjunction with the client data records maintained in Cicada Profiler. They can also define expected behavior profiles during client set-up, allowing transaction monitoring systems to begin the monitoring process earlier.
Numerous providers of compliance data have expressed interest in integrating with the Cicada Profiler solution.
Recently, Cicada announced that it was employing components of its Profiler software to develop a case management product for McDonald Information Service (MIS). Being deployed at selected beta sites in July, it will be packaged with MIS' services to provide automatic notification and case management facilities to customers of MIS' due diligence and AML products, as well as the company's OFAC database services.