Date of Publication:
08/09/2009
August 9, 2009, London - SunGard has extended its Ambit Risk & Performance solution suite with the addition of more than 400 government watch lists from around the world, lists of Politically Exposed Persons (PEPs), and media information from over 6,000 publications. The new data and functionality is provided by Regulatory DataCorp (RDC). The data sourced from RDC’s GRID™ database, a leading public-source risk database with over seven million risk relevant events, has been integrated into Ambit’s Anti-Money Laundering (AML) solution. The solution offers a comprehensive solution for watch list checking, transactions monitoring, case management, regulatory reporting and public source risk-relevant data.
There are few countries without existing or pending money laundering legislation. Banks globally are required to monitor, investigate and report customers and transactions of a suspicious nature to the financial intelligence unit of the central bank or government agency in their respective country. Strong Know Your Customer capabilities are therefore very important. RDC's GRID™ is also integrated into SunGard’s Ambit Customer Due Diligence. A solution that provides the financial services and insurance industries with a Web-based Know Your Customer (KYC) compliance tool that helps customers to efficiently meet their KYC obligations at a high standard.
Mark Parsells, chairman and chief executive officer of RDC, commented: “RDC is proud to be working with SunGard, a global leader in the provision of software and services to the financial services sector. We believe this is a strong partnership for customers of both companies. RDC customers who already rely on our data and analytics tools will now be able to benefit from a complete AML suite using SunGard’s Ambit offering. SunGard’s customers will gain access to our GRID™ database, helping to enhance their KYC compliance abilities.”
David Hamilton, president of SunGard’s banks business, said: “Monitoring activities manually is expensive and prone to error but failure to comply leaves a firm facing fines, penalties and damage to their reputation. SunGard offers its banking customers a full suite of compliance and financial crime solutions through our Ambit portfolio. By integrating RDC’s class-leading GRID™ database with the Ambit Anti-Money Laundering solution SunGard becomes a ‘one stop shop’ for a bank’s anti-money laundering regulatory compliance needs.”
About Regulatory DataCorp
Regulatory DataCorp (www.rdc.com) was founded by 20 of the world’s leading financial institutions in 2002 to develop best of class regulatory, financial and reputational risk management products. The company’s data aggregation, product development, and technology deliver continuous information management for enhanced diligence capabilities. With the world’s most comprehensive risk-relevant database, RDC provides unparalleled support for regulatory compliance, reputation management, cost effective loss prevention/mitigation, and informed regulatory reporting.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
