News

22 February 2012

ECM, Compliance and Risk Management Software
Suites enhanced with Encryption Module

ECM, Compliance & Risk Management Software Suites are now available as encrypted versions and support the concept of Information Rights Manamgement (IRM).

IRM technologies help to prevent sensitive information from being distributed by unauthorized people and allow several levels  of security because of:

• Specification of Access Permission to file, such as documents, data
• Industry Standard Encryption of the information
• Stong-in-use-Protection, such as controlling copy & paste, preventing screen shots and printing
• Rights Model/Policy which allows easy mapping of business classifications to information
• Full Auditing of access to documents and changes to the rights/policy by business users.

Encryption prevents third parties from recovering the original information, which is particularly important for sensitive data e.g. bank account information, credit card numbers, CRM data and others.

The Encryption Software Module of IMTF executes an algorithm designed to encrypt data in a secure way. Without access to the key, the Encrypted data cannot be recovered.

Encryption is offered with the following IMTF Software Suites:

• Hypersuite/5 - Universal Document Management
  
• SironAML
• IMTF Enterprise Fraud Prevention Solution

For any more detail and further information about Encryption and the IRM Concept please feel free to contact us anytime !

15 February 2012

Average number of Fraud incidents on the rise:

How technology can help to prevent and detect financial crime

IMTF has recently exclusively invited 50 guests from the Singapore banking and financing scene. The business-event was to learn more about Fraud detection and prevention, the most important cornerstones of a robust Fraud and AML risk management and how state-of-the-art technology can help in preventing financial losses and reputational damage.

Mr Mark Büsser, CEO of the IMTF group was hosting and guiding through the program. One of the highlights of the evening was the presentation by the Director Forensic KPMG Singapore, Mr Owen M. Hawkes, who was giving the insight and outcome of the KPMG Singapore Fraud Survey Report 2011.

Fraud hits nearly one in four companies

Fraud numbers are on the rise: The KPMG survey respondents reported well over twice the number of incidents per victim organisation than in KPMG’s 2008 report. As this survey brackets the period of the recession, what effect could the recession have had on the incidence of fraud?
The KPMG forensic sees three main side-effects of a financial and credit squeeze:

• Many long-running frauds, some dating back as far as ten years, have come to the light. The economic downturn created a restrictive credit environment and led to reduced cash flow in many organisations. As a result, it became increasingly difficult to disguise missing funds or create fictional revenue.

• Fraud resulting from a lack of oversight, ignored controls or indifference to clear “red flags” has become more commonplace.

• The recession led to an increase in retrenchment and resignations. Employee misconduct frequently comes to light only when the employees leave their organisations.
  

• The incidence of fraud is growing and its impact is becoming greater. In an environment with myriad risks and high stakes, companies need to take a proactive and holistic approach to managing fraud risk. The fact that internal controls continue to fail or are being overridden suggests that companies should pay particular attention to internal threats.

To read the complete KPMG Singapore Fraud Survey Report 2011 you may
 download it on the KPMG website .

How Technology can give the competitive edge over financial crime

The conclusion and key themes of the Fraud report are, that Fraud hits nearly one in four companies in Singapore. Internal parties were involved in 63% (employee fraud); controls broke down in 71% and oversight failed in 50%.

IMTF’s Fraud Prevention Solutions help to protect against operational and reputational risks and losses. IMTF Enterprise Fraud Prevention Solution offers Real-time Cross-Channel Fraud Prevention solution for: Internet Banking Fraud, Card Fraud, Employee Fraud, Deposit Fraud and Commercial Banking Fraud.

The IMTF Employee Fraud solution offers comprehensive coverage for all common Employee Fraud problems, such as policy violations, embezzlement, theft of customer or bank assets, and/or theft of customer data.

For any more detail and further information about IMTF Fraud or AML solutions please feel free to contact us anytime or visit the Compliance section on this website .

3 November 2011

IMTF Solutions for FATCA

IMTF enables Financial Institutions to establish an effective and efficient FATCA program, allowing (US) Foreign Financial Institutions (termed FFI in the legislation) to not only ensure compliance, but also minimise business and customer impact. Key FATCA capabilities, delivered as a standalone solution or as an integrated part of the IMTF’s Customer Due Diligence solution or Anti-Money Laundering Suite, manage and streamline the complex processes associated with FATCA to help institutions maximise resources, save costs, and simplify compliance.

FATCA was signed into U.S. law in March 2010, and comes into effect in January, 2013. Despite the fact that it is U.S. legislation, FATCA has transnational scope and therefore has implications for all financial institutions operating outside of the U.S.

Under FATCA, FFIs have an obligation to report information on customers, individuals, and businesses that are known to be, or might be, liable for U.S. tax treatments. Institutions that chose not to be compliant with FATCA, termed non-participating FFIs (NPFFIs), are subject to a 30 percent tax withholding on all U.S. sourced fixed or determinable annual or periodical income made to their account holders.
IMTF, a leader in Compliance & Risk Management and Document Management Solutions, provides solutions and expertise to help firms establish a structured FATCA compliance program - from identifying U.S. customers and requesting verification documentation to generating reports to meet the requirements of FATCA.

Please register to learn how IMTF can enable institutions to implement an effective and efficient FATCA program:

FATCA White Paper
FATCA Checklist
IMTF solutions for FATCA
IMTF Expert

 

19 April 2011

We take care of your Compliance tasks

The requirements regarding Compliance are becoming increasingly comprehensive and complex; finding relevant specialists is becoming increasingly difficult.

FINMA confirmed in their newsletter that Compliance and Risk Management functions may be delegated to third parties without their approval.
 
As a provider of first-class solutions for AML, Due Diligence, Trading Compliance, Code of Conduct etc., we now offer the full range of Compliance tasks as a comprehensive service for your bank, together with specialists from B-Source Ltd.

It is our commitment to provide total cost transparency when managing the majority of your Compliance and Risk Management activities. You benefit from first-class specialists, top applications and profound experience and knowledge.

We gladly offer you this service on a personal consultation bases without any obligations. Please contact us via e-mail:marketing@imtf.ch or phone: +41 26 460 66 51.

21 February 2011

Real-time, cross-channel fraud prevention solution

IMTF is proud to announce the addition of "IMTF Enterprise Fraud Prevention" to its portfolio of Compliance & Risk Management solutions. This cutting-edge, cross channel,  real time fraud prevention platform provides Financial Service Companies a holistic view of all suspicious activities in real time and allows them the ability to prevent, investigate and resolve suspicious transactions. IMTF Enterprise Fraud Prevention Solution is based on the Actimize Fraud Platform which receives worldwide the highest ratings of any technology to combat financial crime. IMTF can now offer a real End-To-End Platform to catch more fraud incidents in real time, reduce fraud losses, increase investigators productivity and maintain compliance.

21 January 2011

SironKYC completes the SironAML compliance solutions portfolio

SironKYC ("Know Your Customer") now completes the SironAML-Suite Portfolio. This solution supports Financial Service Providers in complying with laws and regulations to ensure compliance with statutory check and risk assessment requirements for new and existing business relations (Customer Due Diligence).

SironKYC covers the entire process of new customer acceptance (client on boarding) from standardized capturing of customer data to automated matching with PEP and Embargo lists, generating a first customer risk rating. SironKYC includes business rules for specific instructions/actions according to the calculated risk level (accept/reject/notify/etc). This new application can be integrated with SironAML, thus providing ongoing risk rating.

With SironKYC, Financial Service Providers are enabled to meet all legal requirements of the KYC principle and ongoing risk rating, from customer acceptance through the whole relation. This contributes to the prevention of money laundering and financing of terrorism. IMTF can provide you with more detailed whitepapers or demonstrations of the product at your site at any time.
 
 For more information please contact:marketing@imtf.ch

4 January 2011

SironAML Roll-Out at Société Générale

IMTF is happy to announce that the roll-out of our Anti-Money Laundering solution SironAML at all Société Générale’s foreign subsidiaries (SG BHFM) is about to be completed.

The project started in 2005 when IMTF signed a contract with SG BHFM to implement SironAML at all its subsidiaries, which today account retail banks in more than 35 countries.
 
The roll-out strategy included the implementation of the same solution (SironAML) and the application of the same basic AML strategy at all SG BHFM subsidiaries. Specific country or regional adaptations are taken into consideration when configuring the solution. “This roll-out enables us to comply with national and regional regulations and mitigate the risk of fraud in a cost-effective way”, says Olivier Geoffray, Head of Operational Risk & Compliance at SG BHFM.

SironAML is the module for the detection and prevention of Money-Laundering activities using powerful analytics, such as adaptive profiling and dynamic link analysis. It meets all current legal requirements and is delivered pre-configured with a comprehensive set of Money Laundering scenarios covering international recommendations and local regulations.

BHFM stands for "Banque de Détail hors France Métropolitaine" and comprises Société Générale’s Retail Banking outside France, particularly banks in Eastern Europe, Africa and Far East.

17 September 2010

IMTF and Assentis to offer Output Management solutions in Singapore

Singapore is a well-established premier financial hub for Private Banks in Asia. Private Banks High Net Worth Clients and institutional investors expect accurate, high quality and customized client reports, delivered in a presentable, timely manner. There is no room for compromise. For this reason, IMTF is fortifying its presence in Singapore by enhancing its portfolio of solutions in the field of Output Management, focusing on Customized Client Reporting, together with partner-company Assentis – the leading software editor of Output Management solutions.

“This is a major step supporting our growth strategy to be active in all mature and emerging Banking geoclusters with integrated vertical Banking solutions” – says Mark Büsser, IMTF Chairman.

IMTF has been operative in Singapore in the fields of Enterprise Content Management, Compliance and Risk Management since 2005 and has acquired a unique expertise in this specific Banking hub, with major clients, both global Banks with their subsidiaries in Singapore and local Banks. IMTF will play the role of incubator and exchange platform for partner companies like Assentis, intending to extend activities from Switzerland to Singapore/APAC. This will intensify the partnership and the collaboration between IMTF and Assentis in a strong Singapore Joint Venture with additional sales and service delivery to cater to customers’ needs, particularly in the field of Output Management.

21 June 2010

WIR Bank chooses HYPERSUITE and ZV/2

IMTF is happy to announce that WIR Bank has chosen HYPERSUITE as its group-wide archiving and Document Management system as well as ZV/2 for its payment and WIR-Receipt capturing as part of their migration to the finnova Core-Banking-System.

WIR Bank will be operating the most technologically and functionally advanced Document Management and archiving system in Switzerland which is fully compliant with the country’s legal regulations.

HYPERSUITE is used by more than 85 banks in Switzerland. It is a highly flexible archiving and repository system based on open architecture. Its modularity, scalability and web technology features are deeply integrated in the finnova Core-Banking-System. The payment capturing solution ZV/2 automates the process of capturing all orders for payment and facilitates online processing of payment orders as in this case with WIR-Receipts.

Mark Büsser, member of the board of the IMTF Group says : "The modularity of HYPERSUITE, combined with the specific banking know-how of IMTF best satisfies the needs and requirements of universal and private banks. This implementation at yet another finnova bank also shows, how well the DMS, Records Management and Archiving Services of HYPERSUITE can be performed by outsourcers”

WIR Bank was founded in 1934 and has 7 subsidiaries in Switzerland with headquarters in Basel. The bank specialises in services to the smaller and medium-sized company (SMEs) sector. It’s flagship products “WIR System”, offers a ‘cashless’ payment system and “WIR loans” offer the most economical means of financing in the Swiss financial markets.

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