Risk Management Advances

Complinet Ltd., a provider of compliance and risk solutions, launched its new anti-money laundering (AML) transaction monitoring solution while Calypso Technology Inc. unveiled version 10 of its Trading and Risk Management platform. In other news, Open Pages, Inc. announced the availability of its new governance, risk, and compliance (GRC) platform offering.

Focal Points:

• Complinet initiated TransWatch, a transaction monitoring solution that enables businesses to rapidly, detect, inspect and resolve suspicious transactions. The offering bridges the gap between detection and resolution. TransWatch enables connected compliance, delivering a rules-based approach – rather than scenario-based – that reduces false-positives, and links detection with case resolution and reporting mechanisms, according to company officials. The product allows institutions to identify all customer activity, monitoring activity against rule parameters mandated by governments or regulatory bodies, or set by the firm itself, based on its internal risk profile. The system also enables the production of a wide range of regulatory reports. It also includes more than 70 pre-built and pre-tested detection rules that can be customized. The solution updates compliance teams first thing each morning with cases of rule breaches that they can quickly resolve through TransWatch's integrated workflow and management reporting tools, executive claimed.
• Calypso announced version 10 of its integrated trading application suite to the capital markets industry. Version 10 incorporates significant enhancements to front office tools for structuring products and managing real-time intraday risk and P&L analysis, and more robust risk management capabilities on a desk and enterprise level. It also brings new capabilities to the Calypso Fast-Track product, shortening time-to-value during implementations. The new version includes a variety of improvements to help traders innovate further while improving risk management, compliance and productivity, the company said.
• OpenPages declared the availability of OpenPages 5.5, its GRC platform offering. Version 5.5 leverages standards-based Web 2.0 technologies to deliver an enhanced user interface, more powerful security administration and advanced configuration capabilities, according to officials. The new OpenPages 5.5, which was re-engineered from previous releases, boasts a Web 2.0 user interface for improved ease-of-use and to facilitate the integration of risk and compliance activities with everyday business processes. In related news, OpenPages also unveiled the availability of OpenPages Hosting, a software-as-a-service (SaaS) offering that provides customers an easy and reliable way to deploy a secure, dedicated instance of OpenPages' solutions without the administrative and internal IT costs associated with installing and managing an in-house system.

Experton Group believes criminals, external and internal fraudsters, and terrorists become more sophisticated every day, requiring corporations to address GRC concerns aggressively, holistically and proactively to keep up. Companies cannot solely rely upon automated transaction monitoring tools if the desire is to unearth and eliminate problems before they occur. IT executives need to act before suspicious activities occur, which means putting in place processes and solutions that regularly and systematically search and screen enterprise customer records for potential risks and threats.