Compliance: Searchspace Upgrades Its Anti Money Laundering Solution, and more stories

Searchspace Upgrades Its Anti Money Laundering Solution Searchspace, a New York-based software provider released the latest version of its anti-money laundering (AML) solution, AML V4.1. Functional improvements in the include better infrastructure support and enhanced integration and reporting capabilities.

For multi-business firms, the system can accommodate multiple risk based polices reflecting the risk profiles of individual business lines. Additionally, investigative and detection capabilities now include enhanced link analysis across both transactional and reference data. V4.1 allows the utilization of non-dollar transactions such as balance enquiries and pin change requests that can be profiled so that every transaction whether it is dollar or non-dollar can be interrogated. Search capabilities have also been improved along with the ability to easily integrate alerts from outside of the Searchspace system, which can be combined with Searchspace workflow and case management for investigative support.

"IBM partners closely with Searchspace to help banks analyze the mass of data represented by the vast array of banking products, millions of customers and billions of transactions that take place every day," said June Felix, general manager of risk & compliance at IBM, in the press release. "The introduction of V4.1 has enhanced the detection capabilities of Searchspace's AML solution and makes it easier to customize to specific customer needs without compromising system management."

Roberts, Glore & Co Selects Financial Tracking Technologies for SEC Compliance

Roberts, Glore & Co. a Chicago, Ill.-based investment management firm with approximately $500 million in client investments, has selected Greenwich, Conn.-based Financial Tracking Technologies (FTT) for SEC compliance solutions. FTT is a financial software and financial data processing company that provides automated and consistent data scanning. Companies using its technologies to detect undesired trends in securities and financial portfolios and material violations of compliance requirements. FTT's areas of service include mutual fund service provider oversight, fair and timely trade allocation, anti-money laundering, portfolio process consistency, pre-trade clearance, automated 204A-1 reporting, best execution, favoritism/decision checking, excessive account activity alerting and safeguarding of client assets.

Reuters Selects Akonix to Join Its Messaging Compliance Partner Program

Reuters has selected Akonix Systems, a TK-based software provider, to join its Reuters Compliance Partner Program. Reuters Messaging (RM) customers can now continue to take advantage Akonix L7 Enterprise IM management system for their enterprise-wide compliance, archiving, security and control needs.

Reuters Messaging is a business IM service designed for the financial services industry and many Reuters Messaging users are subject to strict compliance regulations for message logging, archiving and review. Akonix L7 Enterprise provides a unified IM management solution, giving IT departments a simple solution to audit and store all IM communications, as required by the National Association of Securities Dealers (NASD), the Securities Exchange Commission (SEC) and the New York Stock Exchange (NYSE).