| |
Carreker
Corporation Press Release - November
8, 2004
Carreker Unveils Advanced AML and
Wire Fraud Solutions for Multiple Transaction
Types
Latest components of Carreker’s CORE™ Fraud
Manager product suite provide advanced enterprise-wide
protection against money laundering, terrorist
financing and wire fraud schemes
LAKE BUENA VISTA, FLORIDA (November 8, 2004) — Carreker
Corporation (Nasdaq: CANI), a leading provider of
technology and consulting solutions for the financial
industry, today introduced the latest components
to its CORE™ (Carreker Online Risk Expert)
solution suite at BAI’s Combatting Identity
Theft & Payments Fraud Conference. The products
are CORE™ Fraud Manager Wires and CORE™ Fraud
Manager AML. CORE Fraud Manager is an advanced platform
that integrates enterprise-level risk management
for compliance monitoring and fraud detection across
multiple channels and relationships.
- CORE Fraud Manager Wires works in conjunction
with a bank’s wire systems and processes
to analyze current wire transfer activity from
over-the-counter, telephone, and Internet origins
in real-time. This is critical because wire transfers
can involve large sums and are irreversible. It
uses transactional data that includes customer
profiles, historical data, and information about
the beneficiary and funds destination. It matches
transactions against Country Risk Ratings, negative
and positive list information and the bank’s
Beneficiary Exempt Lists to detect known criminals
and minimize false alerts that would delay legitimate
transactions.
- CORE Fraud Manager AML is an advanced transaction
monitoring system that analyzes and captures data
across products, accounts, channels and business
unit boundaries to provide an enterprise-wide solution
with fully scalable point solution capabilities.
By analyzing and comparing monetary and non-monetary
data from all available data sources, Fraud Manager
AML identifies suspicious activity that may be
indicative of money laundering to generate alerts
using a risk-based approach.
Increased international and domestic legislation,
in combination with heightened criminal activity,
are forcing banks to increase monitoring for suspicious
transactions or risk legal and financial penalties
for banks and their officers. Celent Communications
estimates that between 2003 and 2005, banks, broker-dealers
and insurance carriers in the US will spend an estimated
total of $632.2 million on AML software solutions
and related hardware and services.
Thomas G. Gordon, senior vice president, Carreker’s
Risk Solutions Group, said, “In today’s
environment, effective risk programs require advanced
technology to automate and improve the detection
of suspicious activity for compliance and fraud purposes.
With the variety and number of solutions available,
the purchase of an effective solution will become
a much more critical metric in this space. These
latest CORE components provide financial institutions
with scalable, enterprise-wide risk management technology
that when seamlessly integrated into a bank’s
fraud and compliance environment, offer a comprehensive
processing solution through automated response, reporting
and workflow management capabilities – without
impacting customer service.”
“As anti-money laundering and wire fraud schemes
become more sophisticated, our clients will continue
to look to us to provide the latest solutions in
compliance and fraud detection capabilities,” said
J.D. (Denny) Carreker, chairman and CEO, Carreker. “Our
Wires and AML releases significantly strengthen our
CORE Fraud Manager solution and let us expand our
ability to help banks increase the profitability
of their payments business.”
At BAI’s Combatting Identity Theft & Payments
Fraud Conference
For a demonstration of these solutions, visit the
Carreker booth at BAI’s Combatting Identity
Theft & Payments Fraud Conference in Lake Buena
Vista, Florida, November 8-10. For more information
on the solutions, visit: http://www.carreker.com/main/solutions/risk/risk_ove.htm.
Previously released CORE components include CORE™ AML
Filter, CORE™ Workflow Manager, and CORE™ Information
Manager.
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.
|
|
