Chartis recognizes “best-of-breed” solutions that have superior point solution capabilities together with the organizational characteristics to capture significant market share in their chosen target markets. According to Chartis, providers of best-of-breed solutions usually have a growing client base, superior sales and marketing execution, and a clear strategy for sustainable profitable growth. Best-of-breed solution providers can also demonstrate a healthy rate of investment in research and development and have specific product or “go-to-market” capabilities that give them a competitive advantage.

“Since FircoSoft’s acquisition of the Telovia team and Panorama Workbench last year, we have seen promising growth and expansion of its core solution suite,” said Peyman Mestchian, Managing Partner at Chartis Research. “In addition, and since the launch of its Firco Continuity Version 5, we have seen impressive strides in terms of scalability, system performance as well as a connector approach for rapid integration with any banking application. This new V5 technology reduces the risk and complexity of implementation projects and provides a strong platform to help its customers evolve over time to address new regulations such as FATCA.”

“We are very pleased with Chartis’s recognition of our watch list filtering solution as best-of-breed. Chartis is a premier risk management technology research firm with a strong understanding of our market and its vendors’ strengths and weaknesses. Considered as best-of-breed in the RiskTech Quadrant by Chartis is an honor for FircoSoft as well as a validation of our solution and leadership in the market,” said Jean Losco, CEO of FircoSoft. “With the ever-changing regulatory landscape, including the introduction of new regulations such as FATCA, providing innovative and highly effective solutions are at the core of our mission to enable our customers to adapt over time to preserve their reputation and protect against regulatory risk.”

For more information, please visit the www.chartis-research.com.

Established in 1990, PT Abhimata Persada, based in Jakarta (Indonesia), is a leading IT solutions provider for the banking and telecommunications sectors in Indonesia. PT Abhimata Persada will resell to the Indonesian market all FircoSoft’s watch list filtering solutions and provide implementation and support services. Firco Continuity to filter transactions in real-time and provide financial institutions from processing illegal payments, Firco Trust for information and customer files filtering to improve Know Your Customer programs and Firco List Service, for the delivery of high-quality sanctions list, and enhanced list management and filtering performance.

“Our partnership with FircoSoft is a key step in our strategy to deliver best-of-breed solutions to our customers in Indonesia,” said Tri Adi Martianto, Director, PT Abhimata Persada. “As ever stringent anti-money laundering (AML) and counter-terrorist financing (CTF) regulations are implemented in Indonesia, FircoSoft’s filtering solutions will strengthen our offer and will enable us to provide customers with efficient means to enhance anti-terrorist financing controls, improve risk-management and ensure regulatory compliance.”

“We are delighted to welcome PT Abhimata Persada in our partner network. On both sides, this partnership builds on the strengths of the other. On the one hand, FircoSoft will bring the power of its filtering technology and expertise to one of the largest IT solutions provider in Indonesia. On the second hand, PT Abhimata will bring the benefits of its strong local presence and long-term relationship with the financial institutions in Indonesia to FircoSoft. We look forward to working together to grow our business in the region,” said Wilfred Lee, Regional Channel Manager, FircoSoft.

“We are delighted to be sponsoring next week’s premier ACAMS event to showcase our newest solutions, Firco Due Diligence and Firco FATCA,” said Laurent Corbel, Executive Vice President of Americas Operations of FircoSoft. “With tightening regulations, from the UK Bribery ACT to FATCA compliance, FircoSoft is committed to providing our customers with effective and efficient solutions to provide ongoing regulatory and risk protection.”

Located at booth #109, FircoSoft’s team will be showcasing:

Firco Due Diligence – offering small and mid-sized banks, broker dealers, insurance firms and corporates a cost-effective and rapidly deployable solution for sanctions and PEPs screening of relationship information and customer data. Firco Due Diligence combines the robust features of recently-acquired Telovia’s Panorama Workbench with the power of FircoSoft’s filtering engine all within a packaged and pre-configured environment.

Firco FATCA – ensures FATCA compliance by enabling financial institutions to effectively identify, investigate and report detections irrespective of the different reporting models, approaches or time frames for compliance.

ACAMS conference delegates can stop by booth #109 to receive a copy of the Firco FATCA White Paper.

In light of its payment messaging and its increasingly sophisticated functional environment, Lombard Odier has selected FircoSoft’s flagship Firco Continuity solution as its new Sanctions screening tool. With it, they will be able to improve their filtering of multiple payment message types such as SWIFT, SIC, and EUROSIC against sanctions lists, therefore minimizing the risk of processing illegal transactions.

“FircoSoft quickly understood our issues and its solution addressed all items on our list of functional and technical requirements, which made FircoSoft the perfect partner to work with,” said Stefan Wiederkehr, Senior Vice President at Lombard Odier. “What is more, we needed a modular solution that could always adapt to new business models and operation scenarios that the firm may want to set in motion, whilst meeting the stringent regulatory provisions of those jurisdictions in which we operate. Not only has FircoSoft demonstrated their understanding of all these intricacies but its project methodology encompasses all the checks and controls guaranteeing a seamless, in-budget and timely roll-out.”

“We are delighted to add Lombard Odier to our growing list of Swiss customers. We are committed to delivering the best solutions and services possible to help them efficiently and effectively meet regulatory requirements,” said Luc Querton, Managing Director Continental Europe-MEA at FircoSoft. “Almost one year ago, we opened our office in Zurich to get closer to our customers and prospects, and this new relationship proves our commitment to serving the Swiss market and our willingness to grow our business within the region.”

Firco Continuity is a highly configurable and user-friendly solution that enables customization according to the users’ preferences and needs, consequently providing even better insight into the sanctions-related activities thanks to graphical representation of alerts, messages and resolution progress in order to foster the efficiency of compliance processes. Firco Continuity taps into a flexible architecture which makes it a scalable and future-proof solution. In addition, the solution is highly flexible enabling the ease of maintenance and upgrade tasks required by ever changing regulations.

Based in Zurich, Thilo is responsible for managing the operations and ensuring that FircoSoft provides its customers with the best services in the DACH and Central & Eastern Europe regions. With more than 20 years of experience in the financial services industry, Thilo Schreyer has held several positions in sales and account management, recently as Head of Risk Management at Thomson Reuters and Regional Sales Director at Misys.

“Strengthening our long-term commitment to servicing our clients as locally as possible, we opened a subsidiary in Zurich earlier last year. Since then, the steadily growing demand for our solutions in Germany, Switzerland and Austria has further reinforced our expansion ambition. We are delighted that Thilo has taken up the regional leadership of FircoSoft to drive our business development,” said Luc Querton, Managing Director Continental Europe-MEA of FircoSoft. “His proven track record in the financial services industry in the DACH region makes him a valued addition to our organization.”

“I am very pleased to have joined this fast-growing company which has maintained a strong market position as the leading provider of watch list filtering solutions over the years,” said Thilo Schreyer, Managing Director of FircoSoft Schweiz GmbH. “I look forward to growing FircoSoft’s business by  helping financial institutions eliminate the risk of processing illegal transactions or doing business with risky counterparties by providing them with best-in-class solutions and services.”

Firco Due Diligence combines the robust features of recently-acquired Telovia’s Panorama Workbench with the power of FircoSoft’s filtering engine all within a packaged and pre-configured environment.

“Tightening legislation across the board from economic trade sanctions and embargo restrictions, to the UK Bribery Act and the FCPA anti-corruption regulations, require companies to have effective KYC and due diligence systems in place,” said Pascal Aerens, Head of Product Strategy of FircoSoft. “We developed Firco Due Diligence to provide organizations with an easy-to-use solution to rapidly meet these regulatory requirements and provide immediate protection against fines and the reputation risk induced by bribery, corruption and other financial crimes.”

Firco Due Diligence is a Know Your Customer (KYC) and Customer Due Diligence solution designed for small and mid-sized financial institutions, insurance companies and corporates.  Firco Due Diligence is pre-packaged and pre-configured enabling a fast deployment for organizations to benefit from a very low total cost of ownership (TCO) while meeting local and international regulatory requirements. Harnessing over 20 years of filtering technology innovation and expertise, FircoSoft’s newest Firco Due Diligence solution covers the complete Customer Due Diligence lifecycle.

For more information about FircoSoft’s Firco Due Diligence solution, please contact info@fircosoft.com. 

“As the market leader for watch list filtering solutions, with existing customers in India, FircoSoft was the best choice and partner to assist our customers in meeting increasingly stringent regulatory requirements imposed by the Indian government,” said Mr. Parthasarathy, MD & CEO,  iSolve. “Becoming FircoSoft’s partner provides a real opportunity for us to serve local financial institutions with efficient and effective solutions to boost sanctions controls, mitigate risk and ensure regulatory compliance.”

“We are delighted to welcome iSolve to our partner network. India is an important market for FircoSoft and finding a strong partner in India was full part of FircoSoft’s strategy. iSolve’s local experience in the compliance domain and recognized footprint in India make it the perfect partner for FircoSoft. Their long-term relationships with many of the large banks in India will help grow our mutual business within the region,” said Florence Vicentini, Alliance Director at FircoSoft.

iSolve will resell Firco Continuity to filter transactions and avoid processing illegal payments, Firco Trust to filter entities and/or customers’ information to prevent doing business with risky parties, and the Firco List Service to enhance list management and filtering performance. Implementation and support services for FircoSoft’s solutions will be also offered by iSolve’s experts.

Opening the new Tampa office will enable FircoSoft to cater to the fast-emerging industries that require cost-effective and rapidly deployable solutions to improve Customer Due Diligence. From this office in Florida, FircoSoft will also deploy its solutions for FATCA and Sanctions compliance to the banking market in the Caribbean and Central America.

“FircoSoft is committed to working closely with its customers to drive innovation and keep ahead of regulatory risk. We chose Tampa to be closer to our customers in South East U.S. and to provide a base to expand business development in the Caribbean and Central America,” said Laurent Corbel, Executive Vice President, Americas Operations of FircoSoft. “Opening an office in Florida is the second step of our deployment in Latin America, which started last year when we opened an office in Sao Paulo, Brasil. Those two offices will join forces to develop our business in the region and support our customers.”

The new address is FircoSoft Inc., 8875 Hidden River Parkway, Tampa, FL 33637. To contact the Tampa team, please email info@fircosoft.com.

Last June, the Philippines’ President Benigno Aquino signed into law two measures to strengthen the government’s fight against money laundering and terrorism, ‘An Act to Further Strengthen the Anti-Money Laundering Law’ and ‘The Terrorism Financing Prevention and Suppression Act of 2012.’ As a result, financial institutions in the Philippines are required to comply with these new regulations by utilizing practices and technology to identify and prevent financial transactions related to illegal activities.

“It was a must for iWave Inc to provide our customers with best-of-breed filtering solutions to comply with the new regulations which have been recently signed into Congress,” said Sonny P. Gaon, President & COO at iWave Inc. “Selecting FircoSoft was the best choice for us as its solutions and services met our requirements in terms of expertise of the team, robustness of the solutions and price. We are very pleased to be partnering with FircoSoft enabling iWave Inc to help financial institutions meet these new requirements and complement our solutions and service offerings to be more competitive within the region.”

“We are delighted to welcome iWave Inc as a new reseller partner in the Philippines,” said Eric Quéré, Managing Director of FircoSoft Singapore. “Together with iWave’s strong local expertise and excellent track record serving financial institutions in the Philippines, we look forward to expanding the adoption of our solutions to help the region’s financial sector eliminate the risk of processing illegal transactions or doing business with risky parties.”

iWave Inc, a leading provider of software consultancy and services for financial institutions in the payment gateway, core banking systems and credit card systems within the Philippines, resells FircoSoft’s Firco Continuity, to filter transactions and avoid processing illegal payments, Firco Trust to filter entities and/or customers’ information and prevent from doing business with risky parties, and, the Firco List Service to enhance list management and filtering performance. Implementation and support services for FircoSoft’s solutions are also offered by iWave’s experts.