Americas Software, iWay Software Partner to Simplify Anti-Money Laundering Compliance Procedures.Business Editors/High-Tech Writers MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. & NEW YORK--(BUSINESS WIRE)--March 26, 2003 Americas Software, a leading developer of anti-money laundering software Anti-money laundering software is a term mainly used in the finance and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. , today announced it has partnered with iWay Software, an Information Builders company that accelerates business integration, to provide financial institutions and other businesses regulated by anti-money laundering laws with a seamless interface between back-office data and front-office compliance systems and procedures. Through this alliance, Americas Software will add seamless data integration to its ASSIST//ck(R) and AFACS//web anti-money laundering (AML AML - A Manufacturing Language ) software using iWay's XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Transformation Engine (iXTE) and Universal Adapter Framework. iXTE will help financial institutions and other businesses integrate disparate account and transaction data from over 200 information resources, including live SWIFT transactions, into one common infrastructure. iWay Software adapters and iXTE feed data directly into Americas Software AML engines. Americas Software's AML engines systematically profile accounts and monitor transaction trends to detect, investigate, and report money-laundering activity, which can be done in real time or near-real time for immediate identification of suspicious behavior. "We're pleased with the opportunity that the relationship with iWay Software will present," said John Daly, president of Americas Software. "The combination of our proven ASSIST and AFACS AFACS A-Files Accountability and Control System (US INS) AFACS Academy for Forensic Application of the Communication Sciences AFACS Americas Foreign Asset Control Software (Americasoft) software with iWay's iXTE enables financial institutions worldwide to quickly and efficiently roll out their AML programs and comply with domestic and international regulations." John Senor, president of iWay Software, added, "As with many other kinds of IT projects, integration is a critical issue with anti-money laundering applications. By combining Americas Software and iWay Software technologies, organizations can reduce complex and time-intensive integration issues by as much as 90 percent while delivering a comprehensive AML solution." About iWay Software iWay Software, an Information Builders company, is a market leader in middleware that accelerates business integration. With facilities to integrate systems in real time, near-real time, or on a scheduled basis, iWay provides a complete reusable infrastructure for EAI (Enterprise Application Integration) Refers to various techniques used to share data and business processes in large enterprises. When companies acquire another organization, disparate information systems have to be made to work together. , B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business , e-commerce, and mobile business. iWay's experience with complex information systems led to the development of prepackaged pre·pack·age tr.v. pre·pack·aged, pre·pack·ag·ing, pre·pack·ag·es To wrap or package (a product) before marketing. Adj. 1. Intelligent Adapters to connect to more than 200 packaged applications, transaction systems, legacy data, relational databases, and e-business formats, without writing custom code. iWay Software integration solutions significantly reduce the time, cost, effort, and risk of integration projects throughout the enterprise. For more information, go to http://www.iwaysoftware.com. About Americas Software Americas Software, headquartered in Miami, develops, markets, and sells software that enables banks and other financial institutions to track, detect, investigate, report, and manage suspicious activity, including money laundering The process of taking the proceeds of criminal activity and making them appear legal. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. . The company's flagship product, ASSIST//customerknowledge (ASSIST//ck), analyzes how money moves in, around, and out of financial institutions by profiling account activities and monitoring transaction trends. ASSIST//ck and AFACS//web, a Web-based search engine that automates OFAC OFAC Office of Foreign Assets Control (US Treasury) OFAC Ontario Farm Animal Council (Canada) OFAC Olmsted Falls Airport Committee OFAC Organic Fertilizer Association of California compliance procedures, are currently installed at more that 95 institutions in 23 countries. For more information, call 305/377-3502 or visit http://www.americasoft.com. NOTE TO EDITORS: In the product names, AFACS//web and ASSIST//ck noted in this news release, there is a double slash between AFACS and web and ASSIST and ck. This symbol may not appear properly in some systems. |
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