Cygnet Pericon and STB Systems Ltd conducted a seminar titled Improving the Quality of Reporting by Automating the Process of Analyzing Suspicious Activity Report to introduce an Anti Money Laundering solution to banks in Indonesia.

The seminar which was held at Ritz Carlton Hotel Jakarta on Tuesday, 25th July 2006 was attended by more than 30 people from more than 15 banks. The keynote speaker of the seminar was Michael Thomas, the CEO of STB Systems Ltd. Michael discussed the best practices of anti money laundering solution and its future trend. After that, a demo of STB-Detector was presented by John Heaps, the Regional Operations Manager of STB Systems.

The requirements of anti money laundering solution arise from the nature of the bank’s business. Specific areas of concern therefore include monitoring of cash activity, remittance activity, and the behavior of non-customers using the counter services, and also being able to cross-relate activity where it is carried out by related parties.

STB-Detector is fast becoming an industry byword for tackling money laundering. STB-Detector software optimizes financial integrity reporting, controlling all associated workflow. In one solution, with one project, user can control a whole range of risks. Or user can choose to start with his/her key areas of exposure - a quick win - and roll out enhancements later. STB-Detector covers more areas of potential exposure, in one solution.

STB-Detector is the only product designed from the outset with comprehensive coverage of all key compliance automation requirements. Not just sanction list checking, transaction monitoring or verifications, but all of these and more. Automatic outputs to PPATK, internal management reports (for monitoring fraud and market abuse) and integrated workflow, all in one flexible rules-based system. STB-Detector is easy to install and use and interfaces to one or many data sources easily, with only minimal IT effort, so implementation is brisk and costs are reasonable. STB-Detector’s comprehensive compliance automation helps satisfy crucial principles such as PPATK, BIS Customer Due Diligence, FATF, and helps achieving best practice.

About STB Systems

STB is one of the world's leading vendors of automated compliance reporting solutions for the financial markets. Founded in 1984, STB is the market leader with offices in London, New York, Hong Kong & Singapore. The company is one of just five recognised by the Bank of England for electronic reporting output and works closely with many other respected industry bodies.

STB's solutions are designed to automate the presentation of critical controls that protect financial institutions, handling both internal & external reporting to satisfy relevant regulatory bodies and assist in compliance with anti money laundering procedures. STB's solutions control & consolidate multiple data sources. The use of rules-based technology ensures a stable product, & allows for development of new solutions quickly & efficiently to meet the constantly changing demands of regulatory, management, risk & other compliance reporting.

STB's core competence puts them at the forefront of regulatory & compliance technologies, offering best of breed solutions for their customers.

STB Systems Solutions Pte Ltd
Caltex House
30 Raffles Place
#23-00 Singapore 048622
Tel: +65 6233 6859
Fax: +65 6233 6800
www.stbsystems.com

About PT. Cygnet Pericon

PT. Cygnet Pericon is a provider of Business Intelligence and Regulatory Compliance Solutions for the Financial Services Industry in the Asia Pacific region. Our BI solution helps financial institutions deliver profitable customer acquisition and retention strategies, timely and focused answers for risk management concerns, and the insight to track, understand and manage corporate performance. We also leverage on our partners' knowledge and world-class experiences to deliver global products and solutions localized to the needs of our Financial Services customers.

PT. Cygnet Pericon specialise in providing Business Intelligence and Data Warehousing solutions to primarily the Financial Services industry sector. Our BIS team is staffed with certified data warehousing and business intelligence professionals seasoned with full-cycle implementation experience. We have many of the largest banks in Indonesia as our active BIS customers.

PT Cygnet Pericon
Century Tower
11th Floor, Suite 1105
Jl. H.R. Rasuna Said Kav. X-2 No.4
Jakarta 12950, Indonesia
Tel: (62-21) 252-1090
Fax: (62-21) 252-1091
www.cygnetpericon.com