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FircoSoft and Alliance Enterprise Announce Strategic Partnership to Help Financial Institutions in Latin America Ensure Sanctions Compliance

email this aricle - FircoSoft and Alliance Enterprise Announce Strategic Partnership to Help Financial Institutions in Latin America Ensure Sanctions Compliance  - New York - 29 March 2012 print this article - FircoSoft and Alliance Enterprise Announce Strategic Partnership to Help Financial Institutions in Latin America Ensure Sanctions Compliance  - New York - 29 March 2012

FircoSoft, the leading global provider of watch list filtering solutions, announced today that it has signed a software and services reseller agreement with Alliance Enterprise to offer its solutions via the Company’s SWIFT-certified Service Bureau to meet the growing interest for sanctions compliance in Latin America.

Alliance Enterprise is headquartered in Bogota, Colombia and provides SWIFT software and services to financial institutions and corporates in Central America. With this partnership, Alliance Enterprise will offer FircoSoft’s flagship solution, Firco Continuity and its Spanish web-based user interface, to filter transactions in real time against sanctions lists on its Service Bureau. Alliance Enterprise will also receive sanctions lists through the Firco List Service. Financial institutions will also maintain their own internal lists as needed.

“We are delighted to be adding Firco Continuity to our Service Bureau offering to help small financial institutions more cost-effectively eliminate the risk of processing illegal transactions by filtering SWIFT messages and other transactions to detect high-risk customers and counterparts,” said Luis Cortina, Director General of Alliance Enterprise.

“The new Service Bureau offering from Alliance Enterprise provides smaller financial institutions an ideal solution for cost-effective sanctions compliance, ensuring the same regulatory protection offered to our largest customers,” said Laurent Corbel, Managing Director of FircoSoft. “With Alliance Enterprise’s well-established Service Bureau infrastructure and large team of SWIFT-certified engineers, financial institutions will benefit from a fast-to-implement and trusted outsourced environment to eliminate regulatory risk, fines or penalties.”

For corporates or smaller businesses, Alliance Enterprise will also offer Firco Online, an online service allowing end-users to perform ad hoc searches against sanctions lists via its Service Bureau.

For larger financial institutions preferring to deploy Firco Continuity on-premises, the Company will resell and provide local support for the solution.

Both FircoSoft and Alliance Enterprise have earned the SWIFTReady Application Add-on 2011 label awarded to compliance software that enriches Alliance Access with business features that reduce operational risk, improve system performance and ensure regulatory protection. Alliance Enterprise is also a SWIFTReady Connectivity Provider for its SWIFT Service Bureau.

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