FircoSoft, the leading global provider of watch list filtering solutions, announced today that it has added a new connector to enable the seamless integration of its real-time watch list filtering with the Dovetail Payment Services Hub.
Dovetail builds and implements enterprise banking software, specifically, the Dovetail Payment Services Hub. Leading Global and Regional banks are building their payments strategy with Dovetail to benefit from later customer cut-offs, intraday liquidity management and efficiently address new regulatory burdens. Four of the top six global transaction banks are already using Dovetail and seeing the benefits of a payment services hub strategy.
"With the seamless integration of FircoSoft's solution with our Dovetail Payment Services Hub, time-to-compliance is significantly reduced and ongoing maintenance is simple and cost-effective with minimal impact on existing infrastructures," said David chance, SVP Product Management of Dovetail.
"With tighter regulatory controls and increased regulations, offering new capability to drive increased efficiencies, control compliance costs and easily adapt to new requirements is essential," said Gerry McMurrer, Managing Director of FircoSoft. "The new plug-and-play connector will offer Dovetail customers these capabilities and more with a flexible, fast-to-implement and easy to maintain sanctions compliance solution."
Firco Continuity is FircoSoft's flagship watch list filtering solution designed to ensure compliance and detect and block transactions including listed parties. Firco Continuity is multi-alphabet ready and can be interfaced to any banking application, operates on all major platforms, and filters any message type including ACH, SWIFT, FEDWIRE, and SEPA. The solution can filter against any sanctions list (such as EU, OFAC, HMT, and UN), third-party lists (such as BankersAccuity, Dow Jones, World-Check or WorldCompliance) or internal watch lists.