March 19, 2007 — (WEB HOST INDUSTRY REVIEW) — IT solutions provider Fortent (fortent.com) announced on Monday that it has selected IBM (ibm.com) as its managed hosting partner in preparation for the launch of a hosted version of its anti-money laundering solution.
Fortent’s new AML product, released this spring, will be the first in a series of compliance applications, including KYC and fraud detection, that the company will offer on a hosted basis later this year. IBM brings extensive experience in managing large business applications and delivering superior security, performance and technology to customers.
“The Fortent-IBM hosted solution will bring clients the quality and reliability they need to manage their AML processes,” says Sandy Jaffee, Fortent’s CEO. “Using world-class data security and well-tested expertise in the hosting environment and the financial sector, this system will set a new standard in AML delivery for financial institutions.”
A recent survey by the American Bankers Association revealed that meeting Bank Secrecy Act and OFAC regulations has become the top compliance priority for financial institutions. IBM will provide Fortent with around the clock monitoring, operational support for database administration, server administration, business continuity planning and services, data center and information security monitoring and advisory services.
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