News
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 2011We 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
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
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
4 January 2011
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.
16 April 2010
IMTF Completes its Offering with Business Communication and Output Management Solutions
IMTF has enhanced its offering around document centric solutions with Assentis’ DocFamily. This unique business communication and output management platform strengthens IMTF’s position as a leading provider of complementary services and solutions around business systems, especially, core banking solutions.
DocFamily has enabled numerous companies around the world to create, manage and convey superior enterprise business communications, efficiently and effectively. DocFamily facilitates sophisticated document solutions for high-volume, on-demand or interactively created, individual client correspondence. This enables companies to generate documents that are beyond the reach of conventional document automation offerings. DocFamily fits perfectly in IMTF’s service and solution portfolio of supplementing business systems with special focus on core banking platforms.
“IMTF and Assentis specialise in the financial services sector thus we differentiate ourselves from other vendors of output management systems which have their roots in the printing industry”, says Urs Tanner, CEO and one of the founders of Assentis.
Having already certified adaptors and document templates for major core banking platforms, efficient implementation is assured. Going forward the future development of the Assentis and IMTF solutions will have aligned roadmaps guaranteeing compatible interfaces between IMTF’s Hypersuite-, DocFamily and core- business and banking solutions.
The partnership extends the global sales and service reach of both companies especially in the UK, South East Asia, France and Africa to mutually support customers.
About Assentis
Assentis Technologies AG, headquartered in Rotkreuz, Switzerland has a strong focus in the financial and insurance services sector where its management team has its roots. With offices in Germany, Austria and the USA Assentis has built-up an international presence. Assentis is committed to building its solution on open industry standards, such as W3C-XML/XSL and Java 2 Enterprise Edition.
About IMTF
IMTF is based in Fribourg, Switzerland and specializes in the Document Management and Compliance domains where it has been a recognized leader for more than 23 years. IMTF is represented worldwide by a growing network of subsidiaries and representative offices in Austria, Ukraine, Greece, UK and Singapore.