WALTHAM, Mass. – Apr. 1, 2009 – Wolters Kluwer Financial Services announced today that it has expanded its anti-fraud solutions to meet the needs of securities firms. The tools, which were previously offered only to banking institutions, help securities firms with various anti-fraud and regulatory compliance challenges, including identity verification operations, high-risk customer detection, employee and account fraud detection.
With increased focus on the financial regulatory system in the U.S., and the president’s push for regulatory reform, it is critical for securities organizations to evaluate their compliance programs and how they manage operational risk. As compliance programs adjust for regulatory change, operational risk systems should also evolve to help reduce the risk of fraud. Wolters Kluwer Financial Services helps securities firms protect their customers and the reputation of their organization with the following tools:
Wiz Sentri: RiskID CIP\KYC - Automates identity verification operations from account opening to record archiving by risk-rating and risk-scoring new and existing accounts. It also verifies individual and business identities and screens applicants and account owners against government watch lists.
Wiz Sentri: RiskID Advanced Intelligence Suite (AIS) – Provides a comprehensive batch filtering solution for Politically Exposed Person (PEP) compliance, high-risk customer detection and fraud prevention.
Wiz Sentri: Anti-Fraud – Allows securities firms to detect and prevent malicious activity, helping protect against employee, account and transactional fraud. Its unique patent-pending behavioral monitoring capability is combined with transactional analytics, a profiling engine and investigatory tools to provide a comprehensive system for fraud prevention and case resolution.
“By offering these tools to securities firms, we can help them detect and prevent dishonest activity that can harm their clients and organization as a whole,” said Mark Coronna, executive vice president of Securities and Insurance for Wolters Kluwer Financial Services. “With the current turmoil in the financial services industry, one of the best ways securities firms can help ensure stability is by employing comprehensive compliance and operational risk programs. This not only helps reduce risk within their organizations, but it also helps build trust with clients and regulators.”
For more information about Wolters Kluwer Financial Services anti-fraud solutions, e-mail scsinfo@wolterskluwer.com or call 866-221-0404.
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
