November 20, 2014
CHARLOTTE, N.C. – Nov. 20, 2014 – Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced today the availability of RiskPartner® and RiskPartner® Enterprise, the company’s fully automated, hyper-targeted negative news search engines designed specifically for financial institutions’ compliance professionals who are responsible for enhanced due diligence and “know your customer” initiatives.
Source Technologies’ RiskPartner solutions search both recent and historical negative news sources, including watch lists for updates – providing an early warning system for users screening individual and corporate accounts. RiskPartner and RiskPartner Enterprise only index risk-relevant information, ensuring users receive the most pertinent and up-to-date risk information available in the commercial world.
“Today’s financial institutions face more regulatory pressures than ever before, and identifying potential money laundering, fraud and terrorist financing actions are now a critical component of an institution’s operations,” said Keith Hamilton, president and CEO of Source Technologies. “Unlike traditional due diligence searches, RiskPartner and RiskPartner Enterprise only deliver risk-relevant information, eliminating compliance professionals from having to manually look through thousands of unrelated results to detect any red flags.”
RiskPartner and RiskPartner Enterprise index more than one million risk-based websites from 1,400 risk-relevant RSS feeds and more than 1,000 anti-money laundering-specific sites continually monitored for change. The solutions’ core data collection is re-indexed and updated every 24 hours. RiskPartner and RiskPartner Enterprise feature a simple, intuitive user interface that is accessible by a username and password. Once logged in, the user simply types the name he or she wants to check, and risk-related results are delivered in real time.
In addition to these capabilities, the RiskPartner Enterprise edition provides institutions a full audit trail, enabling them to batch-process all existing customers and prospects against the search engine. RiskPartner Enterprise also features portfolio monitoring that automatically processes historical searches and checks them against the latest negative news every 24 hours – eliminating the need to re-submit inquiries on a weekly, monthly or quarterly basis.
Founded in 1986, Charlotte, NC-based Source Technologies is redefining the branch channel by helping banks transform their branches with automation, innovative technology and superior engineering. The company’s print solutions empower businesses to automate the secure printing of sensitive information and negotiable documents, and its ground-breaking transactional and interactive kiosks for self-service and retail applications enhance the self-service experience. Customers include six of the Top 10 US banks, 69 of the Fortune 100, and thousands of small and mid-sized companies. For more information, feel free to visit www.sourcetech.com or connect with them on Facebook, Twitter and LinkedIn.
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