EastNets showcases advanced anti- money laundering & terrorist financing solutions at Sibos 2016
Posted by: Clara Fernandes at 9/26/2016 02:25:00 am
Strategic partnerships with Dow Jones & EBRC on spotlight
Dubai September 26, 2016
EastNets, a leading global provider of compliance, payment and cloud solutions for the financial services industry, will unveil its advanced systems for countering money laundering and terrorist financing at the 2016 SWIFT International Banking Operations Seminar (Sibos), the latest edition of the world’s premier financial services event. The company will highlight its partnership with Dow Jones, the world's most trusted business news and financial information resource, to provide stronger Watch List Filtering for optimal protection.
Running from September 26 to 29, 2016 at the Palexpo convention center in Geneva, Switzerland, this year’s Sibos will gather some 8,000 business leaders, decision makers and specialists and nearly 200 exhibitors to build networks, share business strategies and consolidate expertise to shape the future of the financial industry. EastNets will occupy Stand F91 of the venue where it will demonstrate its leading anti-money laundering (AML) solutions and share key partnerships it has made with Dow Jones, and the European Business Reliance Centre EBRC.
EastNets and Dow Jones recently agreed to combine the strengths of the former’s en.SafeWatch Filtering – a watch list and US Office of Foreign Assets Control (OFAC) filtering solution used by financial institutions and corporates worldwide – and the latter’s Dow Jones Risk and Compliance databases. EastNets clients can now choose from targeted categories from the Dow Jones lists for loading into the en.SafeWatch Filtering system. This ensures that the system scans only against the targeted entities, thus boosting efficiency while minimizing false positives.
EastNets and the European Business Reliance Centre (EBRC) have entered into a partnership in order to launch a new Payments service. The Payments service is established through a Financial Messaging Hub (FMH), which is built around Eastnets’ Payments, Compliance and Cloud solutions, together with EBRC’s trusted Luxembourg Data Center providing Cloud and Managed Services. The service offers automation of payments’ workflows, integrated AML and Reporting services, with infrastructures connected to the SWIFT network. FMH is operated and managed by EBRC, with SWIFT connectivity assured via the EastNets SWIFT Certified Service Bureau as a trusted service in the Cloud.
Hazem Mulhim, CEO, EastNets, said: “An underlying theme across all our solutions is to lower the total cost of ownership, safer business, and flexible and enhanced performance. Through the years Sibos has served as an excellent platform for EastNets to demonstrate how our open platform and architecture offers the best protection against money laundering and unintentional involvement in terrorist financing, among other rapidly growing threats to the global financial system. As one of the world’s most important financial centres, Switzerland is a fitting venue for us to emphasize the need for greater balance between security and performance as financial institutions contend with today’s challenging market realities.”
The annual Sibos conference is organized and facilitated by SWIFT, the global provider of secure financial messaging services.