|Next generation AML|
Anti-money laundering solution streamlines Bank Secrecy Act compliance by supporting easy scenario analysis
J&B Software Launches Next Generation Anti-Money Laundering Solution
Blue Bell, PA – May 20, 2008 – J&B Software, Inc., a premier provider of enterprisewide transaction, document and payment system solutions, today announced the release of a new enhanced version of the company's marketleading AntiMoney Laundering (AML) software. This latest offering in J&B's financial product suite expands the global reach of J&B's risk and compliance solutions. J&B's advanced solution, AMLOCK, streamlines the Bank Secrecy Act’s (BSA) compliance process as well as providing deeper profiling of accounts for banks, insurance, asset management and brokerage firms.
AMLOCK, the next generation of AntiMoney Laundering software, provides an end-to-end risk-based approach to AML compliance. AMLOCK utilizes an easy to use interface for all functions, from “knowing your customers” to risk based transaction monitoring with extensive case management as well as easy filing of compliance reports.
In-house personnel can easily accomplish making changes to transaction monitoring scenarios when required by changing AML’s threat scenarios. AMLOCK also provides a “what if” capability to allow compliance personnel to see the results of a proposed change before making it permanent within the system.
“J&B’s new enhanced AML solution is a truly scalable, purposebuilt solution that has been designed to stem the flow of illicit funds and meet the compliance requirements of increasing regulatory oversight, no matter the size of the organization,” observes Jim McShea, executive vice president of sales and marketing for J&B Software. “The AML screening process involves carrying out a multitude of verifications comprised of list screening, violation of regulatory norms, pattern recognition and alerting ‘out of profile’ behavior.”
Many large financial institutions have implemented AMLOCK throughout their global operations as well as in North America. These institutions have entrusted their AML needs and requirements to J&B Software. "Preventing money laundering is a global challenge and transcends country borders," remarks McShea. "Today’s financial institutions are operating in a global market. J&B Software is fully committed to answering the needs of all financial institutions wherever they operate."
About J&B Software
J&B Software’s library of core applications and product modules utilize open architecture software and hardware platforms. In addition to AntiMoney Laundering Software, the Company’s solutions suite includes remote image capture, ARC & Check 21/image exchange, intelligent data recognition, and remote data entry as well as core applications for lock box solutions, fullpage document management, transaction archive, and online customer query.
J&B Software is the 2007 winner of the TAWPI Hall of Fame Award for technology innovation and excellence and its 400+ employees are fully committed to improving the operational effectiveness and profitability of its clients. For more information, visit the company website at: www.JBsoftware.com or call 2156411500.
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