Sword FircoSoft Widens its Presence in Germany's Market With WestLB AG Going Live

PARIS, May 20, 2010 /PRNewswire/ -- Sword FircoSoft, the leading global provider of watchlist filtering solutions announced today that WestLB has selected Sword FircoSoft's state-of-the-art watchlist filtering solution to fight money laundering and terrorist financing.

WestLB AG, a European Commercial Bank and one of Germany's leading financial services provider, opted for Sword FircoSoft's watchlist filtering solution, Firco Filtering Suite, to filter their SWIFT transactions.

Firco Continuity, Firco Filtering Suite's module to filter financial transactions, has been deployed within four weeks at WestLB, which represented the first phase of the project. The bank is now equipped with state-of-the-art filtering technology which allows them to filter their SWIFT transactions in real-time against official sanctions lists like OFAC, EU, UN, Bundesanzeiger Verlag (Germany) and others.

"We were looking for a highly efficient solution to filter our in-coming and out-going SWIFT transactions. After narrowing our search to four providers, the choice for Sword FircoSoft's solution was a logical step, taking into account the breadth of functionality of Firco Filtering Suite, its flexibility, its scalability and its short integration time. In addition, the great involvement and dedication of Sword FircoSoft's team ensured a successful and smooth deployment of the solution," says Hagen Schaumkell, WestLB AG Director.

"We are glad to welcome WestLB AG to the ever expanding group of satisfied Firco Filtering Suite users. The quick deployment of Firco Continuity is yet another show case of the flexibility of Firco Continuity and the team behind the product. It allows WestLB AG to detect illegal transactions and remain compliant with the latest anti-money laundering and counter-terrorist financing regulations," states Laurent Corbel, Sales Director, Sword FircoSoft.

About WestLB AG

WestLB AG is a European Commercial bank with firm roots in North Rhine-Westphalia, Germany's largest federal state. With total assets of EUR242,3 billion as at December 31,2009, it is one of Germany's leading financial services providers. It is the central institution for the savings banks in North Rhine-Westphalia and Brandenburg, and as an internationally operating commercial bank it acts as their link to the global financial markets. Working in close partnership with the savings banks, WestLB offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market, asset management, transaction services and real estate finance. WestLB employs 4,971 staff (as of December 30, 2009). http://www.westlb.de

About Sword FircoSoft

Over 335 financial institutions in more than 55 countries (representing over 650 sites) are already benefiting from the #1 watch list filtering solution* provided by Sword FircoSoft.

Sword FircoSoft, provider of multi-alphabet ready filtering solutions, also offers best-in-class straight through processing and business intelligence solutions.

For more information about the advantages that Sword FircoSoft can offer your organisation, please visit http://www.sword-fircosoft.com.

* ranking by Celent since 2003

About Sword Group

Sword Group delivers high value business applications to the world's largest companies globally. With operations in 37 countries, Sword today employs over 1700 people and in fiscal year ending December 2009 generated more than EUR180m in consolidated revenue. An international leader in the delivery of Business Process Improvement solutions, Sword's skills, infrastructure and experience help our customers across regulated industries optimize performance, increase efficiencies and maximize return on investment. With flexible delivery options, including On Demand and On Premises, combined with our extensive industry expertise, Sword provides comprehensive support to customers across insurance & healthcare, energy, banking & finance, telecoms, utilities, engineering & construction and government.

    For more information, please visit http://www.sword-group.com.

    Contact for press
    Caroline Chochoy
    Marketing & Communication Specialist
    [email protected]
    Tel: +33-144-67-24-06

SOURCE Fircosoft