NetEconomy, a leader in real-time enterprise risk monitoring solutions for the finance industry, today announced the integration of the ERASE Financial Crime Suite with Microsoft's BizTalk Accelerator. This integration will allow customers to prevent fraud, insider trading and market abuse by detecting illegal activity in real time.
"BizTalk extends the functionality of ERASE, significantly expanding our scope and reach for real-time detection and pre-trade prevention of financial crime," said Jan Willem de Lange, Director of Research and Development of NetEconomy. "With this integration, dealer or broker surveillance and monitoring of insider trading can be improved dramatically by linking directly into the order routing process. By assessing the intended investment order before the abusive transaction itself is actually executed on the exchange, our customers can significantly reduce risk exposure."
"The recently launched Market Surveillance module of the ERASE Financial Crime Suite verifies if a transaction is permissible before brokers, Insiders or securities traders invest in shares," said Drs. Jan Marten Visser, CEO ChecknTrade. "The integration of the ERASE Financial Crime Suite with Microsoft’s BizTalk Accelerator extends this feature to almost unlimited capabilities delivering instant access to relevant data for smarter more effective decision making before trade execution. Furthermore it brings this functionality straight to the Microsoft desktop of the bank’s staff."
The Microsoft BizTalk Accelerator for SWIFT extends the BizTalk Server 2004 platform to provide the most comprehensive, reliable and secure delivery of financial messaging using the SWIFT format and network for customers in banking, capital markets, payments, and corporate finance. The BizTalk Server 2004 makes it possible for financial institutions to leverage Enterprise Application Integration (EAI) technology in solving business challenges.
"We are pleased that NetEconomy has chosen the BizTalk platform in order to enhance its world-class ERASE solution offering," said Gavin King, Products and Solutions Marketing Manager of Microsoft. "With support of multiple systems and enterprise applications, BizTalk Server helps NetEconomy customers get at the information they need at the right time. By opening a window into running business processes, customers are given enhanced visibility into transactions in order to take direct and immediate action."