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Omicronn and SIDE announce AML partnership

14 October 2004  |  1250 views  |  0 Source: SIDE

SIDE and Omicronn, today announced their collaboration to integrate SIDE SafeWatch (SIDE AML solution) into Omicronn Trax Payment Street software.

Since the 9/11 events, many countries impose checks preventing the financing of terrorism and of certain regimes. Legal pressure on compliance officers to implement full checking and reporting has been growing over the last few years. The application of financial restrictions against the financing of terrorism constitutes an obligation for both the private and public sector. It's of great importance for automatic filters to be integrated into any businesses' IT systems. Omicronn decided to use the SIDE SafeWatch filtering engine in their Trax Payment Street software.

Furthermore, Omicronn selected the SIDE DB Connector to easily connect their solution to the SWIFT network. Thanks to its unique expertise in the SWIFT technology, SIDE can offer a direct and efficient link to SWIFTNet to application integrators who want to connect their application.

Jean-François Vander Meersche, SIDE’s Sales and Marketing Director, says: "SIDE and Omicronn decided to bring together their complementary knowledge in order to better answer the needs of Banks and Corporates. We are convinced that this collaboration will help our customers to achieve their technology and operational goals."

Hans Cobben, Managing Partner at Omicronn, comments: "It's all about services and time to market. Large corporates and banks really need solutions that are implemented rapidly and end-to-end integrated. The joint offerings of Omicronn and SIDE will guarantee them alignment with market needs within a competitive time horizon and prices that allow for rapid ROI."

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