Side launches modular profiling solution for AML

Source: Side International

At the SIDE Regional Conference in Dubai, Luc Delbrassinne, CEO of the SIDE Group, announced the launch of a “modular profiling” module to extend SIDE’s Watch Lists Filtering solution: SIDE SafeWatch. The announcement was made in front of a panel representing some of the most influential banks in the Middle-East.

The modular “profiling” for SIDE SafeWatch targets institutions that do not need a full-fledged profiling solution, but still want to implement best practices in risk-based KYC and transaction monitoring.

"Our expertise in AML came from customer feedback, and the demand for profiling also came from our customers. While some banks need a full profiling solution, most institutions only need a fraction of full profiling capabilities. For them, investing in a large solution at once, with a long implementation time, is a costly overload. We will provide them with a high ‘modular’ quality solution that addresses their needs, at a fraction of the cost", says Luc Delbrassinne.

SIDE International expects the first implementations of this module by the end of 2006.

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