NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES, Mar 05, 2012 (MARKETWIRE via COMTEX) — EastNets, a leading global provider of compliance and payments solutions, announces today that it has received the 2012 Kinetic Process Innovation Award for excellence in the Banking Technology category. Now in its 16th year, the awards program recognizes excellence in information technology and this year is sponsored by High Tech Views, an online publication that spotlights technology innovation.
EastNets was selected by a panel of experts based on its anti-money laundering (AML) application as utilized by Intesa Sanpaolo, the leading banking group in Italy that serves approx. 11 million customers. The business benefits that were the most compelling to the judges were highlighted in Intesa Sanpaolo’s use of en.SafeWatch Filtering at the Italian branches and en.SafeWatch Filtering and Profiling AML solutions at its international branches in meeting regulatory requirements with AML laws, improving anti-money laundering (AML) defenses and counter terrorist financing (CTF) controls.
“EastNets is to be commended for developing sophisticated AML technology and supporting profiling and filtering solutions that significantly contribute to mitigating risk and fraud for banks and financial organizations. The Kinetic Process Innovation Award not only recognizes outstanding technology but the creative implementation of that technology, such as what Intesa Sanpaolo was able to achieve,” said Drew Barrows, deputy editor of High Tech Views.
“As a Kinetic Process Innovation Award recipient two years in a row, we are honored to be recognized for our compliance and payments technology solutions,” said Hazem Mulhim, CEO of EastNets. “We are thrilled to be receiving this award based on compelling benefits derived from increased compliance, decreased workload, reduced false positives, mitigated risk and improved operational efficiencies.”
About Kinetic Process Innovation Awards The awards program was founded by Kinetic Information LLC in 1996 and sponsored by High Tech Views, recognize innovation in the application of information technology. Awards focus on the business benefits user organizations derive from their technology systems. Winners are selected by a panel of experts consisting of independent professionals who are recognized authorities in their fields. The judging process is free of any vendor or other bias so the emphasis remains on the business benefits provided by each winning implementation. For more information, visit www.hightechviews.com
About EastNets EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporations around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services, training and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, visit www.eastnets.com .
Source: Market Watch.com – Press Release – 5 March 2012