Simplex and Sword FircoSoft team on watchlist filtering

Source: Simplex

Simplex, the market leading global transaction services provider, and Sword FircoSoft, the leading global provider of watchlist filtering solutions, today announced a joint cooperative agreement that further enhances the best-in-breed watchlist filtering technology now available on the recently launched Simplex Super Bureau platform.

The Simplex Super Bureau offers global transaction services supported by an integrated stack of value-added technology. Sword FircoSoft's award winning filtering solution, Firco Continuity, is available to Simplex's customers through its Super Bureau platform and allows financial institutions to filter their inbound and outbound SWIFT transactions in real-time, against the fully tested, cleaned of errors and proof-read sanctions lists provided by Sword FircoSoft's Firco List Service.

Additionally, Simplex and Sword FircoSoft will now co-operate to offer Firco Trust, which enables our clients to enhance their KYC capabilities by facilitating periodic scans of large customer databases, as well as on-line checks made when new accounts are opened, to identify potential high-risk financial customers and politically exposed persons (PEPs).

The cooperative agreement between Simplex and Sword FircoSoft demonstrates the continued commitment of both companies to ensure this market-leading watchlist filtering technology - ranked #1 since 2003 by Celent Communications - continues to offer peerless functionality and integration with the suite of value-added services uniquely available on the Simplex Super Bureau.

"This latest enhancement to the stack reinforces Simplex's market positioning in offering superior transaction services to the world's largest and most demanding customers," said Simplex Chief Executive Philip Walsh. "The agreement between Simplex and Sword FircoSoft to work together to ensure this best-in-breed filtering technology continues to lead the industry in its power and sophistication demonstrates the commitment of both companies to deliver premium quality services to our clients," continued Mr Walsh.

"By using our Super Bureau platform, customers can be sanction-compliant, both locally and internationally without investing in an in-house solution and having to maintain and update the lists.

John Nash, Global Alliancees Director of Sword FircoSoft, states "The integration of our watchlist filtering solution on the Simplex Super Bureau will offer new opportunities to the customers to remain compliant with the latest anti-money laundering and counter-terrorist financing regulations. We are excited about the new market opportunities this new offer will bring to Simplex and Sword FircoSoft."

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