MINNEAPOLIS -- Wolters Kluwer Financial Services announced that it has integrated Safe Banking Systems' SAFE Advanced Solutions software suite and services in its Wiz Sentri: RiskID solution.
"By working with Safe Banking Systems, we're helping our customers take a much more effective and efficient risk-based approach to identity verification and related list checking," said Todd Cooper, vice president and general manager of Wolters Kluwer's financial intelligence unit. "We'll continue to work with other industry-leading providers like Safe Banking Systems in the areas of fraud prevention and anti-money laundering in the future in order to provide the best possible solutions for our customers."
The RiskID solution detects, prevents and mitigates identity theft in connection with new and existing customer accounts. This allows institutions to create a customer identification program in accordance with Section 326 of the PATRIOT Act.
SAFE Advanced Solutions helps financial institutions screen account applicants and account holders against databases of politically exposed persons, government sanction lists, anticrime lists and other watch lists to flag individuals deemed high-risk by a financial institution. The SAFE exposure index identifies high-risk individuals and ranks the relative risk exposure these individuals create for the institution. The index also pinpoints customer profiles of greatest concern according to the institutions specific risk tolerance.
"We are pleased to be working with a respected leader like Wolters Kluwer," said David Schiffer, president of Safe Banking Systems. "The natural synergy of our products has fueled a successful partnership. We are committed to delivering value-added solutions and advanced technology with the highest level of service."