Back to all announcements

Lynx Wealth Management Systems and STB Systems Announce Strategic Alliance

- Lynx Wealth Management Systems, the leading supplier of wealth management systems to the financial services industry, has entered into an alliance with leading compliance software specialist STB Systems.

September 17, 2004 - London, England -- Through the new relationship, Lynx customers will be able to interface directly with STB’s anti money laundering and transaction trend monitoring software STB-Detector, without the need for additional systems.

STB-Detector, STB's proprietary anti money laundering system, provides a comprehensive addition to the defences of any financial institution. The system has four modules: Suspicious Activity Monitoring, Account Opening Due Diligence, Watch List Monitor and Investigations. .

These modules provide extensive coverage of all the key areas of compliance. Account movements can be checked against historical and peer group patterns, and against a variety of absolute and flexible thresholds. Account opening "Know-Your-Customer" procedures are enhanced and documentation renewal reminders can be generated. Customer databases and payments may be checked against any number of internal and external sanctions lists.

As John Mosedale, managing director for Lynx Wealth Management Systems explains, the agreement forms part of Lynx’s strategy to provide the best of breed solutions to its customers; "International regulations mean that all wealth management institutions are now required to check their clients for anti money laundering and transaction trend monitoring. STB-Detector is quite simply the best solution in the market and this combined with the simple interface with our 4Series system enables our customers to easily benefit from the STB solution."

STB-Detector is fast establishing itself as a global solution to money laundering controls with installations in New York, London, Hong Kong and Singapore.

Commenting on the agreement, Michael Thomas, Group CEO at STB Systems said, "We are delighted that Lynx has chosen our STB-Detector system to partner with. Lynx and its 4Series wealth management product suite have an impressive reputation in the marketplace and we look forward to working with them in the future."