6/22/2009
03:33 PM
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Fortent Offers Hosted Solution For Midsize Financial Institutions

Fortent Connect crimes management solution fights crime and manages regulatory compliance



NEW YORK, June 22 /PRNewswire/ -- Fortent (http://www.fortent.com) today announced that it will offer Fortent Connect, a solution designed to help mid-sized financial institutions fight crime and manage regulatory compliance, as a hosted service. Fortent Connect is easy to use and delivers high performance at a competitive price.

Fortent Connect combines essential financial crime management and compliance capabilities - sanctions and "PEPs" screening, anti-money laundering (AML) and fraud monitoring, customer risk rating, alert management and regulatory reporting -- into one system. Delivered as a hosted service, Fortent Connect will offer the additional benefit of lower start-up costs, faster implementation and easier operation. Fortent also offers its all-in-one Connect solution as enterprise software that a financial institution can install behind its own "firewall."

"Using hosted software has become a smart option for business," said Sandy Jaffee, Fortent Chairman and CEO. Advantages include lower total cost of ownership, no capital outlay, access to the latest technology, and reduced pressure on limited in-house IT resources, she noted. Fortent also offers its industry-leading anti-money laundering transaction monitoring and Know Your Customer solutions as hosted services.

"Fortent is focused on delivering solutions that minimize complexity, lower costs and enable organisations to make the best use of their resources," Ms. Jaffee continued. "Coupled with the broad financial crime and compliance management capabilities of Fortent Connect, the hosted version delivers a powerful and cost-effective solution."

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