Intertec Systems to showcase leading edge AML solutions at Payments Middle East

The Second Annual Conference of Payments Middle East is scheduled to be held at Le Meridien, Dubai, on November 20 and November 21, 2007. The annual event will feature solution providers and key note addresses by senior professionals of the industry.

ACE Software Solutions is a provider of intelligent payment, anti-money laundering (AML) and straight through processing (STP) solutions for the financial industry. Its clientele includes BNP Paribas, Credit Agricole, Credit Suisse, RBC Dexia, State Bank of India and Standard Chartered.

Mr. Naresh Kothari, Managing Director, Intertec Systems said:

"We are pleased to be participating along with our partner ACE Software Solutions in Payments Middle East. There is a definite demand for payment and AML solutions in the region and we see a huge scope for ACE's solutions here. The Payments Middle Event will provide a perfect platform for us to introduce the ACE's products and solutions to the financial Industry in the region."

He further added: "Over the last sixteen years, we have been able to build an impressive list of clients, including many in the financial industry. More than 50% of the local banks have been the customers of Intertec Systems. Our objective is to create awareness about latest solutions in the sector."

Mr. Tim Dawes, Commercial Director, ACE Software Solutions, will represent ACE Software Solutions at the event.

Financial institutions have increasing demands for flexible and sophisticated payment capabilities which adhere to the stringent need for regulatory compliance. To compete on the world stage, it is vital that organisations comply with global standards. ACE Software offers a range of specially designed payment solutions for Banks and Corporates based on their PELICAN platform. Each element of the PELICAN solution suite solves a current pressing need in the market whilst providing a platform that can accommodate changes in the payments landscape, whether from industry or regulatory initiatives.

In addition the ACE AML Toolkit allows for effective Anti-Money Laundering, using sophisticated fraud and compliance message filtering. It checks transactions against official sanction lists such as United States' Office of Foreign Assets Control and United Nations to identify suspicious or illegal activity. The system intelligently captures suspicious patterns in customer behaviour that may be part of an illegal activity.