FircoSoft, the leading global provider of watch list filtering solutions, announced today that Lombard Odier, one of the largest private banks in Switzerland and Europe, selected FircoSoft to strengthen its sanctions compliance controls.
In light of its payment messaging and its increasingly sophisticated functional environment, Lombard Odier has selected FircoSoft's flagship Firco Continuity solution as its new Sanctions screening tool. With it, they will be able to improve their filtering of multiple payment message types such as SWIFT, SIC, and EUROSIC against sanctions lists, therefore minimizing the risk of processing illegal transactions.
"FircoSoft quickly understood our issues and its solution addressed all items on our list of functional and technical requirements, which made FircoSoft the perfect partner to work with," said Stefan Wiederkehr, Senior Vice President at Lombard Odier. "What is more, we needed a modular solution that could always adapt to new business models and operation scenarios that the firm may want to set in motion, whilst meeting the stringent regulatory provisions of those jurisdictions in which we operate. Not only has FircoSoft demonstrated their understanding of all these intricacies but its project methodology encompasses all the checks and controls guaranteeing a seamless, in-budget and timely roll-out."
"We are delighted to add Lombard Odier to our growing list of Swiss customers. We are committed to delivering the best solutions and services possible to help them efficiently and effectively meet regulatory requirements," said Luc Querton, Managing Director Continental Europe-MEA at FircoSoft. "Almost one year ago, we opened our office in Zurich to get closer to our customers and prospects, and this new relationship proves our commitment to serving the Swiss market and our willingness to grow our business within the region."
Firco Continuity is a highly configurable and user-friendly solution that enables customization according to the users' preferences and needs, consequently providing even better insight into the sanctions-related activities thanks to graphical representation of alerts, messages and resolution progress in order to foster the efficiency of compliance processes. Firco Continuity taps into a flexible architecture which makes it a scalable and future-proof solution. In addition, the solution is highly flexible enabling the ease of maintenance and upgrade tasks required by ever changing regulations.