SunGard has added a new watchlist checking online compliance solution for corporations to its Ambit anti-money laundering solution suite.
Available through SunGard’s Infinity software-as-a-service (SaaS) platform, Ambit Customer Due Diligence will help corporate risk and compliance officers maintain compliance with domestic and international regulations and sanctions, without adding a large technology footprint.
Ambit Customer Due Diligence provides a range of web-based tools that help ensure security and compliance by resolving and verifying the identity of potential/current employees, customers, suppliers and business partners. It helps customers comply with government anti-terrorist legislation and list checking regulations. Therefore, it can help companies avoid the risk, financial losses and loss of reputation associated with non-compliance.
Colin Day, vice president for compliance and financial crime solutions in SunGard’s banks business, said: “Watchlist checking is a big challenge for many of our customers. There are many lists like the SDN list, and most are frequently updated and difficult to search. Most small-to-medium enterprises don’t have the funds and resources to support an in-house software solution to track and check against these lists. SunGard’s new SaaS Ambit Customer Due Diligence solution offers our customers a quick, cost-effective solution that can help them create safer, more compliant work environments and business processes.”
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