Actimize and Albridge Work Together for Compliance and Surveillance Solution
ACTIMIZE - ALBRIDGE RELATIONSHIP CREATES POWERFUL, INTEGRATED COMPLIANCE AND SURVEILLANCE SOLUTION
NEW YORK – June 28, 2006 – Actimize Inc., a global provider of risk and compliance solutions, and Albridge Solutions Inc., a leading provider of enterprise data management (EDM) and web-based portfolio accounting and performance reporting solutions, today announced they have teamed to provide financial institutions with enhanced brokerage compliance automation capabilities.
Albridge’s Replicated Data Service will provide consolidated customer account data to the Actimize Brokerage Compliance and Anti-Money Laundering solutions, which will help financial institutions accelerate time-to-market in implementing a compliance monitoring solution. Advanced Equities, Inc. is the first customer that will implement the combined Albridge and Actimize solution.
“Today’s regulatory environment requires that financial consultants are armed with state-of-the-art, integrated technology solutions capable of driving efficiency through their business,” said Adam Antoniades, President, Advanced Equities. “Both Actimize and Albridge are clear leaders in their respective specialties. The integration of their two platforms provides our advisors with an enormous advantage versus the competition and enables our organization to zero in on potential compliance issues faster and more efficiently.”
The Actimize Compliance Solution suite provides monitoring of institutional and retail brokerage transactions for exceptions to regulatory guidelines and company policies. The suite consists of trading compliance and anti-money laundering solutions and includes an interactive trade blotter, as well as surveillance of trades, accounts, representatives, and branch reviews.
Additionally, the Actimize suite is built on a common technology platform that provides real-time and batch transaction monitoring, a graphical modeling tool that makes it easy to update compliance rules and scenarios, and an integrated case manager for alert management and case workflow management.
The Albridge Replicated Data Service provides consolidated, cleansed information for investor, account and portfolio holdings. The service provides financial institutions with a daily data file that is delivered through a secure connection. Clients can then access the data and load it into a proprietary or third-party compliance application. Providing an element of straight-through processing to the compliance monitoring process eliminates integration, maintenance and integrity issues that can result when working with multiple data sets, and also delivers an efficient solution for addressing the challenges that manually intensive processing and high data error rates can present.
“The unique Actimize architecture provides the flexibility to adapt to a customer’s data infrastructure, simplifying and speeding implementations. Working with Albridge will allow Actimize to provide even greater value to customers and reduce implementation times even further,” said Ron Greenberg, Actimize Executive Vice President of Marketing and Business Development.
“This relationship reflects Albridge’s focus on delivering high-quality enterprise data management solutions that help financial institutions and advisors increase efficiencies,” said Scot Hosler, Vice President, Enterprise Services, Albridge Solutions. “The integration of our Replicated Data Service with Actimize’s technology provides financial institutions with convenient access to a robust, end-to-end compliance solution.”
“The Actimize Compliance Solution, combined with Albridge’s Replicated Data Service enables advisors, OSJs, and broker-dealers to efficiently meet their full compliance monitoring needs, and dedicate more time to building relationships,” Greenberg said.
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Founded in 1999 by experts in data management and business intelligence, Actimize is a leading provider of enterprise software solutions for Risk and Fraud Prevention Solutions including Anti-Money Laundering, Enterprise Fraud Prevention, and Regulatory Compliance solutions. Actimize solutions are used by eight of the top ten financial services organizations and in total provide surveillance and compliance monitoring for over US$5 trillion in assets. Actimize solutions are currently implemented at leading financial services institutions including banks, brokerages, and insurance firms as well as regulatory bodies and government agencies. For more information about Actimize, visit our web site at www.Actimize.com.
Albridge Solutions is the leading provider of enterprise data management (EDM) and web-based portfolio accounting and performance reporting solutions to the financial services industry. Financial institutions and advisors including investment management firms, insurance companies, banks, registered investment advisors, and independent, insurance and bank broker-dealers rely on Albridge for the high-quality consolidated data they need to succeed. Albridge Solutions consolidates account information from hundreds of data sources encompassing thousands of product companies and makes this valuable customer data readily accessible to many leading financial institutions and advisors. Using patent-pending technology, Albridge Solutions collects, cleanses and normalizes the transaction and position-level securities data it receives from settlement and clearing firms, data custodians, product companies and internal proprietary systems. This data is then used to power Albridge Wealth Reporting, our web-based portfolio accounting and performance reporting solution in use at more than 100 financial services firms representing in excess of $1 trillion in assets, more than 70,000 financial advisors and millions of investors. Financial institutions can also choose to receive cleansed and consolidated information via Albridge Web Services or Albridge Replicated Data Services to support enterprise level initiatives such as data-mining, CRM, compliance monitoring and other mission critical business applications. Additional information is available at www.albridge.com.