Safe Banking Systems Leverages SaaS Trend - Drives Success of SAFE Advanced Solutions®

11 June 2012

Safe Banking Systems (SBS), an innovative provider of anti-money laundering and compliance solutions, today announced that its Software as a Service (SaaS) delivery model has brought the company’s flagship product, SAFE Advanced Solutions®, to the next level. The powerful analytics and intelligence that drive SAFE Advanced Solutions enable organizations to proactively identify risk and thwart financial crime.

“The trend toward SaaS continues to increase due to the numerous benefits of implementing hosted solutions. However, security, reliability and support are still a concern for many organizations,” said David Schiffer, president of Safe Banking Systems. “We have addressed this issue by expanding our relationship with a service leader whose infrastructure provides an SSAE16 Type II SOC 1 auditing standard. This enables us to deliver SAFE Advanced Solutions as a hosted product with the confidence that our clients’ security requirements will be met.”

Each SBS client is hosted on its own dedicated server with a fully redundant back-up site to ensure business continuity. SBS clients benefit from a significant reduction in time to implementation and a secure solution with minimal total cost of ownership. Hosting enables SBS to employ a scalable business model, which has further contributed to the success of SAFE Advanced Solutions.

The hosted option of SAFE Advanced Solutions provides dynamic surveillance for AML and compliance. It enables clients to scan their entire customer database every day against government sanctions and lists of high-risk entities and PEPs (Politically Exposed Persons) to identify individuals that may pose a threat. By accepting files at any time rather than at pre-scheduled intervals, SAFE Advanced Solutions provides ongoing monitoring that captures the constantly changing information in customer databases and third-party lists. It is highly effective in mitigating potential risks by identifying what other systems miss.

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