Carreker
Corporation Press Release - April
26, 2004
CARREKER ANNOUNCES ALLIANCE WITH
WORLD-CHECK TO OFFER AN ENHANCED
GLOBAL RISK MANAGEMENT SOLUTION
TO HELP FINANCIAL INSTITUTIONS
DETECT MONEY LAUNDERING ACTIVITIES
World-Check’s database
of potential high-risk customers
to be available through Carreker’s
CORE AML Solution
DALLAS, TEXAS (April 26,
2004) — Carreker Corporation
(Nasdaq: CANI), a leading provider
of technology and consulting solutions
for the financial industry, today
announced that it has formed an alliance
with World-Check, a leading provider
of intelligence on potential high-risk
financial customers. Carreker and
World-Check will offer a comprehensive
enterprise-level fraudulent detection
and risk management solution to the
global market. As an integrated software
solution, this combination will add
significant benefits in the efforts
of financial institutions to detect
money laundering and other suspicious
activities.
Carreker will enhance its risk management
capabilities by making World-Check’s
extensive global list of high-risk
individuals and businesses available
to its customers through key components
of its CORE (Carreker On-Line Risk
Expert) solution suite. The CORE
AML (Anti-Money Laundering) solution
includes an AML Filter product that
delivers critical “Know Your
Customer” compliance, and an
available real time transaction monitoring
capability, which provides a complete
behavior and risk profile for each
relationship - at the account and
relationship levels.
The CORE AML Filter screens incoming
transactions, as well as existing
accounts and transactions originating
from within a financial institution’s
organization. Transaction and account
information is then compared against
World-Check’s extensive database,
which provides comprehensive profiles
of high-risk and potential high-risk
persons and entities and those associated
with them.
The World-Check database is the
largest structured database of publicly
available intelligence on heightened
risk financial customers, including
money launderers, fraudsters, terrorists
and political exposed persons (PEP’s),
among numerous other categories.
World-Check tracks and creates profiles
for such entities and gathers information
on their relationship network – the
people and companies that are reported
to be associated with each entry
in the database.
Additional detailed information
relevant to compliance needs is also
provided; non-cooperative countries,
named entities such as ships, companies
and organizations, and other detail
which can be leveraged in the Carreker
AML application for both identifying
and then investigating the suspected
person or entity to determine if
further action is needed by the user.
“Carreker has built a reputation
as a global leader in risk management,
so this alliance is a natural fit
for us,” said David Leppan,
World-Check, CEO. “Combining
our in-depth database of heightened
risk persons and entities from every
country in the world with Carreker’s
robust anti-money laundering solution
equips financial institutions around
the globe with one of the most comprehensive
risk management tools in the industry.”
“World-Check’s footprint
as a premier provider of structured
intelligence in the financial industry
is unmatched, with more than 450
financial institutions and government
agencies in 52 countries world-wide
using their database to combat money
laundering and other suspicious activities,” said
Thomas G. Gordon, senior vice president,
Risk Solutions Group, Carreker. “In
addition to its scalability and flexibility,
World-Check provides our customers
with a number of distinct advantages
including advanced sorting capabilities
against which we can create customized
rules.”
Gordon added, “By providing
the relatives and close associates
as well as many other data points
for heightened risk persons, World-Check
includes relevant information that
can be used to determine whether
the name identified should be considered
suspicious or if it is a good customer
not affected by money laundering
regulations.”
“Having access to an intelligent
list of potential high-risk customers
is of significant importance to financial
institutions in their war against
fraud and money laundering,” said
J.D. (Denny) Carreker, chairman and
CEO, Carreker. “As we look
to help protect our customers’ bottom
line by mitigating their exposure
to risk, World-Check offers the ideal
complement to our CORE risk management
solution by helping our customers
identify these risks very early in
the process.”
About Carreker Corporation
Carreker Corporation improves earnings
for financial institutions around
the world. The Company’s
integrated consulting and software
solutions are designed to increase
clients’ revenues and reduce
their expenses, while improving
security and increasing the value
of their customer relationships.
Carreker provides products and
services to more than 250 clients
in the United States, Canada, the
United Kingdom, Ireland, continental
Europe, Australia, New Zealand,
South Africa, South America, Mexico,
and the Caribbean. Clients include
the full range of community, regional
and large banks, among them more
than 75 of the largest 100 banks
in the United States. Headquartered
in Dallas, Texas since 1978, Carreker
Corporation has offices in London
and Sydney. For more information,visit www.carreker.com.
About World-Check
World-Check serves more than 450
institutions, including many regulatory
and government agencies in 53 countries,
with its global list of high-risk
individuals and organizations.
World-Check assists institutions
in mitigating reputational, financial
and compliance risk by monitoring
and correlating risk-related information
on high-risk entities. Financial
institutions can therefore very
efficiently screen their new and
existing customers for risk on
a routine basis. Recognized as
an industry pioneer, World-Check
has revolutionized and “standardized” global
Know Your Customer (KYC) and PEP
screening.
For more information about World-Check,
please contact North American representative,
Brendan Cohen at 214.395.45234 or bcohen@world-check.com,
or visit the company’s web
site at www.world-check.com.
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