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B-next unveils AML and fraud systems

13 October 2010  |  2517 views  |  0 Source: b-next

b-next, a pioneering provider of Market Conformity software solutions to financial institutions, announces the release of MACOC:AML and MACOC:Fraud.

b-next has partnered with Cellent Finance Solutions, a leading vendor in enterprise-wide analysis of risks and hazards, integrating its AML and Fraud solution into its MACOC platform and can also connect to b-next's MACOC:Cockpit. This MACOC:Suite offers a complete platform where firms can manage regulatory and operational risk and fulfil European regulatory requirements.

MACOC:AML and MACOC:Fraud combines b-next's operational risk and compliance capabilities with Cellent Finance Solutions' expertise in AML and Fraud detection and signifies b-next's move into the retail banking sector. The application uses a sophisticated scoring and reporting system, offering complete control through a single data warehouse. MACOC:AML and MACOC:Fraud provides new scenarios and functions and is a complementary addition to the MACOC platform.

Wolfgang Fabisch, founder and CEO b-next Group said, "The launch of MACOC:AML and MACOC:Fraud has widened the spectrum of products that b-next offers to the market. It is important to b-next to ensure that our products are cost-effective and easy to adapt as regulatory requirements continue to evolve. These new additions to the MACOC:Suite have the same look and feel as our current applications, and do not require different administrators, so firms can reduce trainings costs."

Thomas Wild, CEO of Cellent Finance Solutions also commented, "our AML platform is one of the most used widely platforms in Europe and is an excellent addition to the MACOC:Suite. We have more than 10 years experience in AML and Fraud detection in the finance industry and we believe that the partnership with b-next will bring our offering to a wider market. Our collaboration creates a stronger and more complete solution that is vital for both large and small institutions."

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