Clearstream Services External Businesses had deployed EastNets’ anti-money laundering solutions as the strategic platform to provide “Software as a Service” (SaaS) compliance solutions to their clients world-wide.

Michel Rodriguez
Clearstream Services

With this new On Demand service powered by EastNets technology, customers of Clearstream Services External Businesses benefit from cost-effective anti-money laundering controls designed to meet regulatory requirements, reduce capital expenditure and streamline efficiencies.

Clearstream Services External Businesses hosts and operates an entire front and back-office banking environment through an On Demand banking platform, providing clients with a highly secured environment to house their IT infrastructure. With EastNets, Clearstream Services External Businesses expands its services to include watchlist filtering and transaction monitoring capability to detect and report money laundering activity. With no upfront fee, financial institutions can immediately benefit from their choice of services priced and packaged based on volume.

“We are delighted to have selected EastNets’ market leading solutions as the centerpiece and command centre of our anti-money laundering service offering,” said, Michel Rodriguez, External Business Development Director of Clearstream Services. “The company’s long history in compliance and payments, the exceptional quality of its solutions and strong industry expertise made EastNets an obvious choice.”

“As financial institutions strive to control costs and risk, outsourcing operations and business processes become increasingly interesting and appealing,” said Hazem Mulhim, CEO of EastNets. “With Clearstream Services External Businesses’ integration of EastNets’ solutions, financial institutions will have immediate and cost-effective access to world-class anti-money laundering solutions to meet regulatory requirements and mitigate risk.”

As their first common reference, Clearstream Services External Businesses hosts and operates EastNets’ solutions for East West United Bank based Luxembourg.

The EastNets solutions offered on Clearstream Services External Businesses’ On Demand banking platform include en.SafeWatch Filtering, providing real-time blocking and list filtering, supporting all lists including OFAC and PEP; en.SafeWatch Profiling, providing customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting; en.Recovery, enabling SWIFTAlliance users to restart operations within minutes after an outage instead of hours; en.Reporting for FIN and XML traffic monitoring and reporting; and en.Duplicate Detection, preventing in real time emission of duplicate payments or other FIN messages sent to correspondents.