Data4s joins Swift partner programme
12 October 2004 | 1320 views | 0
DATA4s, a leading provider of end-to-end risk analysis solutions for the financial services industry, announced today at Sibos that it has joined the SWIFT network as SWIFT Registered Partner.
As such DATA4s integrates all current and future SWIFT messaging standards into its PINPOINT Fraud and Anti-Money Laundering (AML) product suite. SWIFT supplies standardised messaging services and interfaces to over 7,600 financial institutions spanning 200 countries.
The PINPOINT products (PINPOINT Transaction and Account Filter and PINPOINT Monitoring) scan the SWIFT messages for suspicious payments activity. The PINPOINT products subsequently set the trail in motion of matching, alert generation, investigation, reporting and feedback.
PINPOINT Transaction and Account Filter enables financial institutions and service providers to comply with national and international legislation by matching accounts and transactions against watch lists such as politically exposed persons and sanctions lists. PINPOINT Monitoring supports institutions in their effort to minimize their operational risk through the use of Intelligent Automated Transaction screening.
At the Atlanta Sibos Conference Herman Verrelst, CEO of Data4s comments on DATA4s’ accreditation: "All stakeholders in the financial services industry have to join forces to combat the ever more serious threat of money laundering, often serving to finance terrorist activities and fraud. In order to enable banks and payment service providers to have an enterprise-wide view of that particular risk, technology suppliers must adhere to as many 'standards' as possible. This way globally operating financial institutions can be sure to meet the demands of the various jurisdictions around the world on this very important issue."
Mr. Eric Meirlaen, Partner Solutions at SWIFT states: "DATA4s is a niche player in the world of AML and fraud detection technology with a growing and prominent international client base. Our message standards enable DATA4s to offer their clients an up-to-date solution for risk management, now and in the future. Data4s successfully passed the qualification tests for SWIFT Alliance Access, plug-in, and we are happy to grant them with a SWIFT label, that displays DATA4s’ commitment to adhere to SWIFT standards."