FircoSoft and China Systems Partner to Provide Sanctions Screening for Trade Finance Activity
New York - 13 February 2012
FircoSoft, the leading global provider of watch list filtering solutions, announced today that it has formed an alliance with China Systems to provide real-time filtering of trade finance transactions with a new plug-in connector to CS Eximbills and Eximbills Enterprise.
Eximbills from China Systems is an established global standard installed by many international banks to meet their trade services processing requirements. It combines a Rapid Application Development toolkit with a flexible base business model, providing support for Traditional Trade, Open Account, Supply Chain Finance, and Payments operations. The new plug-in connector for Eximbills was developed by China Systems to significantly speed deployment and ease ongoing maintenance, while protecting its financial institutions against sanctions compliance violations.
“We are very pleased to announce the alliance with FircoSoft, the leading provider of watch list filtering solutions,” said Pedro Ramos, Deputy Managing Director, China Systems (USA & Canada) Inc. “With the seamless integration of our financial solutions, including CS Eximbills and Eximbills Enterprise, we feel it brings yet another major advantage to our customers, in ensuring they meet compliance requirements with an end-to-end solution and with minimum impact to their existing installations and workflows.”
“We are delighted to be adding China System’s Eximbills to our growing roster of supported banking applications systems for which we provide direct plug-in connectors that are fast-to-implement and easy to maintain,” said Laurent Corbel, Americas Managing Director of FircoSoft. “One of our goals is to help financial institutions move away from siloed filtering solutions for different transaction systems in order to drive increased efficiencies and control compliance costs. With the plug-and-play connector to Eximbills, we further broaden our solution offering to meet increasingly stringent regulatory requirements and mitigate sanctions compliance risk.”