Fortent has announced the release of a new version of the company’s anti-money laundering technology. This latest offering expands the global reach of Fortent’s risk and compliance solutions by adding Japanese, Spanish and Arabic language capabilities to the Fortent platform. The company claims that the system streamlines the financial crime investigation process for banks, securities firms, and insurance companies, as well as providing deeper profiling of correspondent banking accounts. Responding to heightened regulatory interest in correspondent banking, Fortent has enhanced the monitoring of correspondent banking accounts around the world. With US and international policy-makers – such as the Financial Action Task Force (FATF) and the European Union – imposing tougher ‘Know Your Customer’ standards for banks, the latest version of the solution automatically drills down to collect and organise more granular information about individual parties to transactions, making the process transparent.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.