Headquartered in Germany, Eurohypo AG is Europe's leading specialist bank for real estate and public finance.

"We are confident that our partnership with Prime Associates will enhance Eurohypo AG's compliance program, particularly with regard to the regulations, laws, and rules that apply to anti-money laundering (AML) and the USA PATRIOT Act of 2001 in the United States and abroad," said Richard N. Pagnotta, compliance officer, North America, Eurohypo AG. "Prime Associates' unique software solutions to combat money laundering will empower Eurohypo AG to both meet its regulatory obligations and protect the interests of its clients."

Prime will provide Eurohypo AG with several components of its Compliance Manager solution, which includes BSA Reporter, EDD Reporter, OFAC Reporter, Legal Reporter and the Prime Compliance Databank. These are essential tools to help Eurohypo AG effectively comply with U.S. and international regulatory compliance requirements.

"From an information technology perspective, Eurohypo AG has found assurance in Prime's approach," said Daniel Cataldo, head of information technology, North America, Eurohypo AG. "Prime installs, configures, and maintains effective regulatory software with the ability to provide additional services around their product. This avoids the need to deal with multiple vendors to accomplish the same task, which not only simplifies and centralizes the process, but also saves on IT costs."

Compliance Manager, an integrated suite of software products, enables financial services institutions to filter and review their customers' transactions for sanctioned party violations. It facilitates suspicious activity detection and provides an automated solution for filing the necessary regulatory reports with the appropriate regulatory agencies (such as FinCEN). In addition, it assists financial institutions to comply with the USA PATRIOT Act through customer identity verification and record keeping, a review module that compares customer records with known or suspected terrorist lists, and risk-based modeling of customers.

The Prime Compliance Databank provides critical regulatory, legal, and reputational due diligence data for the Compliance Manager software suite. It provides global sanctioned party data as well as non-sanctioned party data from multiple countries around the world. Prime's data lists are designed to greatly enhance sanctions filtering efforts and integrate seamlessly with Prime's applications. They can be used with other products as well.

"We examine the compliance needs of our clients differently than other providers by offering a truly comprehensive set of products and services to deal with the current complexities in the regulatory environment," said Salvatore Cangialosi, president, Prime Associates, Inc. "Our advanced approach to solving risk management needs will help Eurohypo AG experience efficiency gains and reduce their exposure to risk, while helping them stay on course for their future growth objectives."