Toronto, ON, Canada – October 29, 2012: Strategic Information Technology Limited (SIT) is pleased to announce the upcoming release of Portfolio Plus Surveillant AML/ATF – an expert system that can help detect fraud, money laundering, and potential terrorism activities.
"Our customers, and the regulatory agencies that govern them, are becoming ever more sensitive to fraud, money laundering, and potential terrorist activities," said G. Robert Leeming, President of SIT, "so we created a solution that allows our customers to satisfy the reporting requirements for regulatory agencies while also enabling them to track, audit, and be alerted to any events deemed to be suspicious. We believe the efficiencies of a purpose-built expert system will be apparent to any prospective user."
Portfolio Plus Surveillant AML/ATF enables each financial institution to implement their own risk weightings for various attributes of customers, businesses, and transactions. These risk weightings can include geography, business type, product types, transaction attributes, and more. The financial institution can then choose to review or automate the reporting the reporting to FINTRAC of any suspicious transactions based on this criteria.
In 2011 SIT embarked on the development of several Portfolio Plus Expert systems to help financial institutions automate large scale processes. Portfolio Plus Surveillant is one of a number of these expert systems which includes Portfolio Plus Collector, to automate collections, Portfolio Plus Originator, to automate loan originations, and Portfolio Plus Forecaster, to predict the cash flow of assets and liabilities, and Portfolio Plus Regulator, improve regulatory reporting productivity.
Since 1988 Portfolio Plus has enabled banks, trust companies, virtual banks, credit unions, and other financial organizations to implement their own flavour of banking to capture the best possible market advantage.
SIT, formed in 1988, develops and markets Portfolio Plus which is used by customers like RBC, CIBC, TD, ING Bank of Canada, PC Bank, Canadian Tire, and Manulife. Portfolio Plus offers a unique Plug-In BankingTM architecture and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, leasing, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.
SIT can be reached at (http://www.stratinfotech.com) or by phone at 905-640-0808.
Portfolio Plus, Plug-In Banking and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.
For more information:
Strategic Information Technology
Telephone: 905-640-0808 x356
Questions? We have answers.
This page was created and/or refreshed on May 26, 2017 @ 14:57:40
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: Anti-Money Laundering Anti-Terrorist Financing