With ever-frequent regulatory controls in place to tackle the flow of illegal financial transactions, organizations require accurate and dependable tools to screen potentially risky customers. Many global politically exposed persons (PEP) databases fail to validate and keep pace with a dynamic security landscape â resulting in potential compliance failure and the generation of high volumes of false positives.
The Simplex Sword FircoSoft âKYC Safeâ Solution draws upon the global Watchlist filtering expertise of Sword FircoSoft to provide a peerless de-risking tool available on the Simplex Super Bureau. KYC Safe is a fully tested global compliance solution available as an on-demand validation tool and as a 24-7 filtering solution, enabling organizations to enhance their KYC capabilities by facilitating periodic scans of large customer databases, as well as on-line checks made when new accounts are opened.
KYC Safe is the latest solutions addition available to clients on the Simplex Super Bureau, a global transaction services platform supported by an integrated stack of value-added technology. KYC Safe builds upon the award-winning portfolio of filtering solutions provided by Sword FircoSoft - ranked #1 since 2003 by Celent Communications.
âKYC Safe further reinforces Simplex's market positioning in offering superior business compliance solutions and transaction services to the world's largest and most demanding customers,â said Simplex Chief Executive Philip Walsh. âThis powerful and sophisticated KYC service on the Simplex Super Bureau is a result of the ongoing collaboration between Simplex and Sword FircoSoft to further extend our best-in-breed filtering technology and demonstrates the commitment of both companies to deliver premium quality services to our clients,â continued Mr Walsh.
John Nash, Global Alliances Director of Sword FircoSoft, states "The launch of KYC Safe on the Simplex Super Bureau is an important milestone in delivering sophisticated de-risk solutions and ensures our customers remain compliant with the latest anti-money laundering and counter-terrorist financing regulations. It was an easy choice for Sword FircoSoft to select Simplex to be one of our key strategic partnerships. Its global reach and impressive solutions-stack is the perfect compliment to our industry-leading Watchlist portfolio.â