EastNets, a leading global provider of compliance and payments solutions and services, announced today that it has formed a partnership with Computer Information Systems (CIS) to help financial institutions in the Balkans, including Serbia, Montenegro, Bosnia & Herzegovina, Albania, Macedonia, Slovenia, Romania, and Bulgaria, to improve anti-money laundering and anti-fraud controls, and enhance Swift payment transparency, efficiency and risk management.
Computer Information Systems (CIS) was founded in 1995, and provides consulting, implementation and support services to financial institutions. In 2003 CIS became an accredited SWIFT Service Partner and in 2004 has upgraded its status also to become a SWIFT Business Partner for the Balkans. CIS will be reselling and implementing EastNets anti-money laundering, anti-fraud and SWIFT Alliance Access value-add solutions for FIN and XML reporting, duplicate message detection management, and rapid outage recovery.
"The growing threat of financial crime, enterprise risk, and increasingly stringent regulatory environment are key concerns to the financial institutions we serve," said Vladimir Filipovic, CEO of CIS. "We have evaluated solutions in the marketplace and believe EastNets portfolio of financial-crime and SWIFT risk management tools will provide exceptional value to help financial institutions meet and adapt to evolving regulatory requirements as well as to effectively combat money laundering, fraud and improve risk controls."
"We are very pleased with our partnership with CIS which will enable us to further expand our regional presence within the Balkans, better serve our existing customer base, and grow our market reach," said Hazem Mulhim, CEO of EastNets. "CIS's customer base and strong presence in financial services will enable EastNets solutions to respond to the region's growing compliance and financial-crime management needs."
The EastNets solutions offered in the Balkans 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 keep online the historical 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.