Bateleur Software ups anti-money laundering, compliance expertise with UK partnership

Bateleur Software, one of the continent's leading anti-money laundering and compliance solutions providers, has upped its expertise by forming a partnership with Datanomic, a UK compliance and data management solutions specialist.

In terms of the partnership, Bateleur will sell and implement Datanomic's award-winning dn:Director for Sanctions & PEP (Politically Exposed Persons) Screening solution, the de-facto screening software of choice for risk and compliance screening in the UK. The partnership will span South Africa and sub-Saharan African countries.

Since 1995, Bateleur's team has provided development, implementation and deployment services to South African enterprises, in addition to representing a number of world-class software products from the leading technology vendors into the southern African region. The company has built a strong reputation for delivering innovative, cost-effective IT software solutions specifically tailored to customers' needs.

The new partnership combines Datanomic's award-winning compliance and risk screening technology with Bateleur's deep subject matter expertise in the region's anti-money laundering and compliance obligations, together with its influence with South Africa's leading financial institutions.

“We believe this partnership provides opportunities for both companies, and - most importantly - ensures that South Africa's financial services industry will be able to benefit from the same best-of-breed risk and compliance screening technology enjoyed by their peers throughout Europe and North America,” said Simon Pearson, Vice-President, Risk & Compliance Screening at Datanomic.

“The threat of infiltration by money launderers, terrorists, fraudsters and other undesirables is - of course - a global problem for the financial services industry, but in addition, South Africa also has unique complexities around the risk management of Politically Exposed Persons (PEPs).

“Partnering with Bateleur allows our customers to receive localised, region-specific advice around the structuring and implementation of risk profiles to match the risk appetite of their particular business. Bateleur's respected position in the market has been built upon extensive experience and a proven heritage in software solutions selection, development, and implementation to deliver real business benefits for their customers.”

The partnership is being launched in South Africa with two Executive Briefings taking place on Monday, 1 March in Johannesburg, and Wednesday, 3 March in Cape Town. On behalf of Datanomic, Simon Pearson will be marking the strategic collaboration by outlining the joint offering and value proposition to a specially invited audience of risk and compliance teams from the region's leading financial institutions.

Lizette Sander, Product Manager at Bateleur Software, commented: “Datanomic's position as the de-facto standard for risk and compliance screening in the UK, together with its global deployments for tier 1 customers such as Barclays, makes it the natural choice for South African financial services firms seeking a robust, reliable and proven solution for threat mitigation and compliance with anti-money laundering, counter-terrorist financing and other critical industry legislation. In the sub-Saharan region, we are experiencing huge expansion in availability of banking services, and are delighted to be working with Datanomic to meet the needs of our enterprise customers.”

Via the implementation of dn:Director for Sanctions & PEP (Politically Exposed Persons) Screening, joint customers will benefit from the most accurate screening solution currently available. Companies using Datanomic's solution for customer screening enjoy vastly reduced mismatches (false positives), due to its advanced data analytics that identifies and resolves underlying problems within customer data, ensuring its fitness-for-purpose for screening. This, combined with Datanomic's powerful screening algorithms - regarded as the most advanced in the industry - delivers unparalleled accuracy in customer screening, reducing false positives by as much as 70%.

Datanomic's customers also benefit from better case management, compliance workflow and reporting tools than has traditionally been available from customer screening systems, which reduce compliance review and cycle time. The powerful, easy to use Management Information and Reporting tools in dn:Director reduce management and supervisory time, and with dn:Director processing data up to ten times faster than competitors; southern African customers could also benefit from cost savings in IT and data centre resources.