FircoSoft Celebrates 10-Year Partnership with Sterci

Paris - 27 September 2012

FircoSoft, the leading global provider of watch list filtering solutions, celebrates today its 10-year partnership with Sterci, a market-leading financial messaging solutions company headquartered in Switzerland.

FircoSoft and Sterci have worked closely together for the past 10 years through a value-added reseller (VAR) agreement signed in 2002. Part of this partnership is the integration of Firco Continuity into Sterci’s GTExchange solution, a high performance financial messaging platform. This combined solution enables customers to screen, in real time, high volume of transactions by automatically blocking messages involving parties who are found on sanctions lists, third-party lists of PEPs or FEPs or internal watch lists. By using Firco Continuity for GTExchange, financial institutions benefit from the combination of FircoSoft’s filtering engine speed and accuracy with the simple and straightforward deployment of Sterci’s plug and play solution.

Sterci also resells Firco Trust, providing batch or real-time filtering of existing and new customers, counterparts, or beneficiaries against any sanctions and/or PEPs and FEPs list.

FircoSoft technology is also embedded into Sterci’s two Service Bureaus which were launched in 2003 in London and in 2006 in Geneva, in order to enable smaller financial institutions and corporates to remain compliant with Anti-Money Laundering and Counter-Terrorism Financing obligations thanks to a cost-effective and hosted solution. With this service, customers are able to make decisions and generate reports from their own premises via a secure and confidential web interface.

“Sterci always looks to anticipate its customers’ needs, and when regulations on ATF and embargoes became stronger we believed that our customers would strongly benefit from additional compliance and KYC functionalities in GTExchange,” said Etienne Savatier, International Sales & Partnerships Director, Sterci. “To offer this new capability, we naturally turned to FircoSoft, the world class leader in watch list filtering. Partnering with FircoSoft has proved to be the perfect fit as we now have numerous customers live with our solutions and many more to come.”

“We are very pleased to celebrate our strong partnership with Sterci, a company with high expertise within the messaging arena. As such, they provide an effective solution to easily manage international standards, including SWIFT, but also local payment formats such as SIC in Switzerland, or more uniquely the SARIE RTGS system in Saudi Arabia.,” said Christophe Destephen, Alliance Manager at FircoSoft. “Together with Sterci’s messaging strength, and our expertise in compliance and filtering, we look forward to more fruitful years and expanding our market share by delivering solutions and services to both large and small institutions that are looking to step up their KYC and regulatory controls.”

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