IPTMA PARTNERS WITH THOMSON REUTERS TO PROVIDE WORLD-FIRST PLATFORM FOR FINANCIAL INSTITUTIONS TO MANAGE AND MITIGATE RISK
IPTMA also expands globally with office openings in Hong Kong and Dubai
SYDNEY, 22 August, 2016 – The International Payment & Transaction Monitoring Association (IPTMA) today announced a new partnership with Thomson Reuters to provide subscribers with a global risk management and screening solution (World-Check) channeled through IPTMA’s recently launched platform, Gilante.
The IPTMA unique platform provides banks and financial institutions with a sophisticated, yet easily integrated and user friendly tool to manage transactional and reputational risk. Gilante also includes the bonus facility of undertaking thorough AML, CTF and PEP due diligence on their client base through utilizing Thomson Reuters World-Check. Clients are also afforded the facility to store policies, procedures and transactional information to be available on request to the organisations that facilitate transactions – thereby providing the transparency that institutions worldwide demand.
World-Check is Thomson Reuters’ source of intelligence on politically-exposed persons (PEPs) and heightened risk individuals and organizations globally. World-Check data helps customers comply with legislation and regulations for preventing anti-money laundering, threat financing, anti-corruption, organized crime and third party risk.
Thyer McCaffery, founder of IPTMA, said, “Gilante is a world-first tool that allows regulated businesses to be proactive in the battle against money laundering and terrorism financing by putting up a united front. All IPTMA subscribers are able to populate the Gilante patented macro transactional monitoring tool to reflect their risk appetite. By monitoring transactional activity across our global subscriber base, criminal activity will be impeded. In the long run, Gilante transaction monitoring will deter criminal activity through the IPTMA subscriber base.”
“IPTMA launched in 2014 and while our initial focus has been in Australia, our reach has quickly expanded. We’re proud to announce negotiations have been finalised to open offices in Hong Kong – headed by Joachim Cimmerbeck (formerly head of sales at Deutsche Bank) and in Dubai headed by Toni Morgan (specialist in compliance, assurance and corporate governance) with a future office and platform roll-out also planned in London” he added.
Daryl Sisson, Managing Director, Pacific at Thomson Reuters, said, “As regulatory demands continue to increase and the global focus on anti-money laundering intensifies, organizations are faced with the burden of assessing, monitoring and disclosing risk while trying to remain competitive. Thomson Reuters’ industry-leading partnership with the IPTMA is an exciting new step in understanding and combating the global financial crime chain.”
Established in 2014, IPTMA provides financial institutions with an all-inclusive platform facilitating easy and effective access to comprehensive, relevant data on transactions – dramatically reducing risk levels to banks, regulated entities and national security by collating accessible information on activity in one place.
IPTMA delivers a succinct yet comprehensive transfer summary providing the ability to navigate individual components of a transaction to demonstrate that all entities have passed stringent security checks.
As an independent body, IPTMA is a conduit of information between regulated entities and their banking partners, allowing full disclosure of host clients and enabling a comprehensive study of secondary clients involved in a transaction. This feature has the added benefit of highlighting how regulated entities adhere to the requirements demanded by industry regulators and have already passed through a rigorous identity and safety procedure. For more information, visit www.iptma.com
International Payment & Transaction Monitoring Association
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