WestLB AG, a European Commercial Bank and one of Germanyâs leading financial services provider, opted for Sword FircoSoftâs watchlist filtering solution, Firco Filtering Suite, to filter their SWIFT transactions.
Firco Continuity, Firco Filtering Suiteâs module to filter financial transactions, has been deployed within four weeks at WestLB, which represented the first phase of the project. The bank is now equipped with state-of-the-art filtering technology which them to filter their SWIFT transactions in real-time against official sanctions lists like OFAC, EU, UN, Bundesanzeiger Verlag (Germany) and others.
âWe were looking for a highly efficient solution to filter our in-coming and out-going SWIFT transactions. After narrowing our search to four providers, the choice for Sword FircoSoftâs solution was a logical step, taking into account the breadth of functionality of Firco Filtering Suite, its flexibility, its scalability and its short integration time. In addition, the great involvement and dedication of Sword FircoSoftâs team ensured a successful and smooth deployment of the solutionâ, says Hagen Schaumkell, WestLB AG Director.
âWe are glad to welcome WestLB AG to the ever expanding group of satisfied Firco Filtering Suite users. The quick deployment of Firco Continuity is yet another show case of the flexibility of Firco Continuity and the team behind the product. It allows WestLB AG to detect illegal transactions and remain compliant with the latest anti-money laundering and counter-terrorist financing regulationsâ, states Laurent Corbel, Sales Director, Sword FircoSoft.