Compliance Newsflashes: Searchspace Improves AML Software, Harvard to Hold Tech Negotiation Seminar

Searchspace Improves Anti-Money Laundering Solution

Searchspace has released version 5.0 of its anti-money laundering solution, representing an upgrade in the software's level of detection. Searchspace examines all transactions while minimizing the number of false positives and delivering high-quality alerts. It addresses the needs of financial institutions to achieve compliance while focusing on improving the quality of detection, extending the business logic functionality, and enhancing the business process and workflow support.

"Customer feedback based on multiple implementations in multiple geographies provides us with one very powerful source of market feedback. Improving detection rates, integration capabilities and usability is at the core of our product development agenda, and V5 represents a very significant advance on all these customer critical areas," says Jason Kingdon, CEO of Searchspace, in a release.

Searchspace currently monitors nearly 500 million accounts and 300 million transactions daily in the effort to curb international and domestic money laundering and financial crime. The product rates transactions dynamically according to the level of risk and builds an understanding of each customer individually. By analyzing customers in this way, Searchspace provides fewer false positives and offers insight unavailable through manual process or rules based solutions.

Harvard to Hold Technology Negotiation Seminar

Harvard Law School will hold an executive seminar on the topic of technology-centered negotiation as part of its Program on Negotiation (PON). Lawrence E. Susskind, the Ford professor of urban and environmental planning at the Massachusetts Institute of Technology and director of the MIT-Harvard Public Disputes Program of the PON, will lead the seminar. The event will take place in Cambridge, Mass. on Nov. 17 and 18. Registration is open to those working in the acquisition, development, distribution, marketing, licensing and management of technology.

Among other topics, participants will discuss and learn how to close technology knowledge gaps, manage high levels of technology uncertainty, create and claim value in technology negotiations, deal with disagreements over data interpretation, ease high levels of frustration and facilitate communications.

The PON is a research center committed to improving the theory and practice of negotiation and dispute resolution. It is comprised of faculty, students and staff from Harvard University, MIT, Tufts University and other Boston-area universities.