FircoSoft, the leading global provider of watch list filtering solutions announced today that Mizuho Corporate Bank, Ltd. is live with its solution, Firco Continuity, delivering real time, centralized watch list filtering for funds transfer, trade finance and ACH transaction activity.
Mizuho Corporate Bank, Ltd. provides financial and strategic solutions serving major corporations, financial institutions, and public sector entities. With offices in more than 28 countries, Mizuho Corporate Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Corporate Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over $2.0 trillion.
Firco Continuity, FircoSoft's flagship watch list filtering solution, was recently implemented at the bank and now filters domestic and international wires in real time, supporting multiple transactions systems. Prior to the selection and deployment of FircoSoft, the bank utilized multiple siloed filtering solutions for different transaction systems as a result of the Mizuho Corporate Bank, Ltd merger in 2002.
"We are very pleased with the rapid implementation and results of the centralized filtering solution from FircoSoft. With Firco Continuity, Mizuho Corporate Bank, Ltd. now benefits from real-time filtering of multiple transactions systems such as our Money Transfer System, Trade Finance and ACH systems as well as the ability to provide our Business Users with a similar workflow throughout the multiple systems," said Frank Carellini of Mizuho Corporate Bank, Ltd. "Providing filtering services and solutions since 1994, market leader FircoSoft was the right choice. The new centralized approach has significantly improved the effectiveness of our operations and will ensure ongoing protection against risk and compliance with the latest anti-terrorist financing regulations."
"We have seen new interest from financial institutions for an integrated real time filtering environment that combines processes, increases efficiencies and streamlines the decision workflow," said Laurent Corbel, Managing Director of FircoSoft. "By deploying aa centralized solution via direct connectors for SWIFT Alliance Access, MTS, CS Eximbills and ACH, our professional services team was able to significantly speed deployment and create an agile environment that can more easily address evolving requirements whether due to regulatory change or business practices. We are very pleased with Mizuho Corporate Bank Ltd.'s choice and subsequent deployment of our centralized filtering platform."