Datanomic signs Alliance Partnership with Webtech Software to provide Sanctions & PEP Screening for offshore clients

21 May 2009

Fit-for-purpose data and compliance screening specialists, Datanomic Ltd, has signed an Alliance Partnership with Isle of Man-based software development specialists, Webtech Software, to provide integration and service support to the offshore financial services industry, as well as insurance, regulatory and banking customers across Europe. Webtech Software will provide both sales referrals and service delivery of Datanomic’s dn:Director Sanctions & PEP (Politically Exposed Persons) Screening software to its offshore and international wealth management clients.

Webtech Software provides financial institutions with solutions to support the administration, investment management, accounting and reporting of offshore and international wealth management products on a pan-European basis. The company’s integrated policy administration and investment management solution, Genesis Life 3, helps reduce the total cost of running a wealth management operation while providing fully integrated customer and investment administration. In addition to its work in the financial services arena, Webtech Software’s Security Division also provides e-business services for the Isle of Man Government.

“We see a particularly powerful match between our own applications and Datanomic’s screening software,” said Mark Mann, Managing Director of Webtech Software. “Our customers need to ensure they are compliant with global screening obligations. Datanomic has a proven track record in the financial services community, and is the market leader. By offering integration between our own products and Datanomic’s sanctions and PEP screening platform, we will deliver even greater value for our respective clients.”

Dr Jonathan Pell, CEO of Datanomic Ltd, added, “We see enormous potential in our partnership with Webtech Software to help us meet the demands of the offshore financial services community. Webtech Software brings both industry expertise and technical knowledge, and an in-depth understanding of the wealth management sector. We look forward to a successful partnership as Datanomic continues to expand its market reach.”

As part of the agreement, Webtech Software’s consultants will be trained and accredited in Datanomic’s dn:Director Sanctions & PEP Screening software for service delivery. Webtech Software will initially focus on its clients in the Isle of Man, and subsequently look to fulfill similar demand from its pan-European customers. The first joint customer, Nationwide International, will go live at the end of May 2009.

Datanomic’s dn:Director Sanctions & PEP (Politically Exposed Persons) Screening software enables organisations to rigorously and systematically identify heightened-risk entities within their customer bases. It relieves the burden of manual or semi-automated client screening by enabling automated screening in an easy-to-use/easy-to-implement solution purpose-built for Compliance. Datanomic includes powerful screening rules to match against both commercial and regulatory body/Government watch lists, to deliver a highly intelligent data matching solution that is designed for use by non-technical users.

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