"RemitPro's Risk Alert combined with Phase3 provides a complete compliance solution that meets the needs of both our retail and institutional customers," said Gerard Murphy, president of SunGard Securities Processingâs Phase3 unit. "We are proud to offer our customers this world-class solution, demonstrating our commitment to deliver the highest level of service and value to our brokerage customers."
RemitPro's Risk Alert receives Name and Address information directly from Phase3 and compares the information with various databases to verify the identity of existing, new and potential customers. The broker/dealer can determine the frequency of Phase3 Name and Address data feeds to suit their specific needs. Once suspicious accounts are identified, RemitPro generates a report for the firm to provide to the government as required. Phase3 will also use RemitPro's enhanced global watch screening, a feature RemitPro plans to launch in the third quarter of 2004.
"It is a pleasure working with SunGard, as it is a respected leader of new technology and fresh approaches for achieving the best results for our mutual customers," said Jana Waughn, president and chief executive officer of RemitPro. "The synergies shared by RemitPro and SunGard in delivering solutions under the ASP model allows us to provide best-of-class solutions in a cost-effective and continuous manner."