Compliance Software is endorsed by American Bankers Assoc.

Fortent Inform Jun 08, 2009

Press Release Summary:

Built on technology platform endorsed by American Bankers Association (ABA), Fortent Connect provides single-system financial crimes and compliance solution for mid-sized banks. It combines anti-money laundering (AML) and fraud monitoring, list and sanctions screening, risk rating, workflow, and regulatory reporting into one system. Solution is suited for mid-sized organizations with limited compliance and in-house technology resources.

Original Press Release:

New Fortent All-in-One Compliance Solution Features Technology Endorsed by American Bankers Association

Offering for Mid-Sized Banks Meets Market Need, Says ABA

NEW YORK, May 26 -- Fortent Connect, the new single-system financial crimes and compliance solution launching this month, will use Fortent's technology platform that has been endorsed by the American Bankers Association (ABA), the industry's leading trade association. Fortent Connect combines anti-money laundering (AML) and fraud monitoring, list and sanctions screening, risk rating, workflow, and regulatory reporting all into one system.

"With the innovative thinking that this product demonstrates, Fortent has shown once again that it truly responds to what banks want," says John Wolff, President of the Corporation for American Banking, the ABA's affiliate that helps conduct the rigorous due diligence reviews of industry offerings. "We believe that Fortent Connect, which is based on the firm's unique, ABA-endorsed monitoring tools, will deliver excellent value for banks of all sizes."

Easy to use and implement, Fortent Connect is designed for mid-sized organizations with limited compliance and in-house technology resources. These firms typically must purchase multiple systems to cover the wide range of monitoring, name checking and reporting functions needed to fight financial crimes and meet growing regulatory requirements. Fortent Connect is the first, all-in-one system designed for this market that includes world-class, ABA-endorsed transaction monitoring technology as part of the total package.

For their due diligence reviews of market providers, the ABA and the Corporation for American Banking conduct a year-long evaluation of leading firms, which includes an in-depth, independent consultant evaluation and feedback from ABA members of various asset sizes.

If you would like more information about Fortent or Fortent Connect, please contact Guy Tarring of Fortent at g.tarring@fortent.com, +44(0)7831-611598