Delivered in partnership with IBM, "Fortent Hosted AML" offers a lower cost and a faster implementation timetable with the same comprehensive approach and effective results that Fortent currently provides top financial institutions worldwide. 

"Our hosted solution will allow financial organizations to focus their resources on their core competencies rather than on owning and managing enterprise software," said Sandy Jaffee, CEO of Fortent.  "At the same time, with Fortent Hosted AML, institutions will have access to what is considered the gold standard in the industry – a powerful, proven solution that also has been endorsed by the ABA."

Many financial institutions, regardless of asset size and the types of markets served, are grappling with the sizeable investment of implementing regulator-friendly AML systems, driving organizations to seek lower-cost options with the same monitoring capabilities. Designed to meet the needs of these firms and maximize the value of their AML investment, Fortent Hosted AML was developed to capture the same rigorous pattern-recognition abilities of its existing AML system but in a delivery mechanism that is more affordable. 

"Fortent's hosted AML system delivers immediate ROI," said Ray Parodi, group executive of product management at Fortent. "With no capital expenditure, reduced IT overheads, faster deployment time and automatic system upgrades, our customers are getting the best of both worlds. On top of these benefits, customers have the security of knowing that their data is managed and protected by IBM's world-class hosting center and that their AML system has IBM's full service and support."

 "By introducing a hosted version of their AML solution, Fortent is creating a compelling option for more banks to use in their critical work of monitoring and reporting suspicious activities," said John Wolff, executive director of the Corporation for American Banking, an affiliate of the American Bankers Association.  "We're pleased to have this expanded resource included in our portfolio of endorsed solutions." 

More on Fortent AML and Hosted AML. 

The American Bankers Association, on behalf of the more than two million men and women who work in the nation's banks, brings together all categories of banking institutions to best represent the interests of this rapidly changing industry.  Its membership-which includes community, regional and money center banks and holding companies, as well as savings associations, trust companies and savings banks-makes ABA the largest banking trade association in the country. 

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