EastNets, a leading global provider of compliance and payments solutions and services, announced today that it has formed a partnership with Sydney-based Network Revolution as its new channel partner in Australia and New Zealand.
The strategic partnership provides a new gateway for banking institutions to benefit from EastNets solutions to improve financial crime controls, meet regulatory compliance and enhance SWIFT payment transparency, efficiency and risk management.
Network Revolution, established in 1998, is a technology provider specializing in delivering service, support and integration of SWIFT and anti-money laundering technologies to the finance sector. Network Revolution will serve as reseller for EastNets, providing implementation, training and customer support services in Australia and New Zealand.
"Network Revolution has an extremely versatile and highly experienced staff with a solid track record in technical delivery," said Hazem Mulhim, CEO, EastNets. "Its expertise in deployment, integration and operation of SWIFT and AML technologies of the local banking sector will enable EastNets solutions to respond to the region's growing compliance and financial crime management needs, and enhance our growth opportunities in Australia and New Zealand."
The EastNets solutions offered in Australia and New Zealand include:
• en.SafeWatch Filtering, enabling full compliance with the international and local anti-money laundering laws, with online checks of the transactions and clients' database against the blacklists, including OFAC, PEPs, and a variety of lists provided by third-party vendors;
• en.SafeWatch Profiling, a sophisticated customer behavior and account monitoring system for applying the KYC rules and detecting, managing and reporting the suspicious transactions;
• en.SafeWatch Anti-Fraud, providing real time ATM, online, credit card and wire fraud prevention.
EastNets also delivers SWIFT value-add solutions dedicated to the financial institutions that utilize the SWIFT Alliance Access (SAA) and include:
• en.Reporting, a consultation, monitoring and reporting system of the SWIFT Traffic, able to keepep online the historiical data with an in-depth view of the archives;
• en.Duplicate Detection, which prevents the emission of duplicate FIN outgoing messages and the processing of incoming messages;
• en.Recovery, for the automation and optimization of the restart process of SAA in the event of failure of the primary system.