Lynx Wealth Management Systems, a vendor of wealth management systems, has formed an alliance with compliance software specialist STB Systems.
Through the new relationship, Lynx customers will be able to interface directly with STB’s anti-money laundering and transaction trend monitoring software STB-Detector, without the need for additional systems.
STB-Detector, STB’s proprietary anti money laundering system, has four modules: Suspicious Activity Monitoring, Account Opening Due Diligence, Watch List Monitor and Investigations. Account movements can be checked against historical and peer group patterns, and against a variety of absolute and flexible thresholds. Account opening “Know-Your-Customer” procedures are enhanced and documentation renewal reminders can be generated. Customer databases and payments may be checked against any number of internal and external sanctions lists.
“International regulations mean that all wealth management institutions are now required to check their clients for anti money laundering and transaction trend monitoring,” says John Mosedale, managing director for Lynx Wealth Management Systems. “STB-Detector is quite simply the best solution in the market and this combined with the simple interface with our 4Series system enables our customers to easily benefit from the STB solution.”
STB-Detector is installed with banks in New York, London, Hong Kong and Singapore. “We are delighted that Lynx has chosen our STB-Detector system to partner with,” says Michael Thomas, Group CEO at STB Systems. “Lynx and its 4Series wealth management product suite have an impressive reputation in the marketplace and we look forward to working with them in the future.”