Temenos and Mantas alliance to provide turn-key compliance solutions for financial services
15 February 2005
GENEVA, Switzerland – 15 February, 2005, TEMENOS Group (SWX:TEMN), a provider of integrated core banking systems, and Mantas Inc., a leader in behaviour detection for financial services and telecommunications, today announced their alliance to provide compliance solutions to the global financial market. This alliance leverages each company’s strengths to offer world-class compliance solutions to firms ranging from global tier one institutions to small regional banks.
Customers will have access to a complete suite of compliance applications, including anti-money laundering, fraud detection, trading compliance, broker compliance and mutual fund trading solutions. As a result financial institutions can meet compliance and global regulatory requirements while managing external reputations and customer retention, regardless of their size and IT budgets.
Increasingly, financial institutions are being called on to address domestic and international regulations targeted at reducing financial crime, such as money laundering, mis-selling, broker malfeasance and fraud. Regulations, such as Basel II, the Market Abuse Directive, the 3rd Money Laundering Directive and the USA Patriot Act demand that institutions develop a comprehensive approach to a wide range of compliance requirements. In order to stay compliant, and protect their reputations and their customers’ assets, firms are realising that reliance on manual compliance processes is outdated and inefficient. TEMENOS has more than 300 customers that can take advantage of Mantas’ sophisticated compliance offerings through their existing and trusted partner.
Darren Innes, EVP of EMEA for Mantas, comments: “Automated compliance solutions are becoming an essential tool in financial institutions of all sizes. Now there is no reason why small- and mediumsized firms should be barred from the most sophisticated compliance technology available simply due to cost. This partnership substantially lowers the solution’s total cost of ownership, or in other words, the total cost of compliance.”
Andreas Andreades, CEO, TEMENOS comments: “We pride ourselves on our superior core banking products and look forward to now being able to offer our clients the very best in automated compliance solutions. Providing the best solutions to respond to critical business needs is always a key focus for TEMENOS.”
-ENDS-
About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). For more information please visit www.temenos.com
About Mantas
Mantas is the market leader in enterprise-wide compliance and behavior detection software for the banking and financial services markets. More than 5,000 professionals worldwide use Mantas to detect and analyze suspicious behavior to protect their firms and comply with global regulations. Mantas is the only vendor that provides solutions across multiple compliance categories – anti-money laundering, trading compliance and broker compliance – for retail banks, wholesale banks, insurance companies, private banking, asset management, institutional brokerage, proprietary trading, capital markets and retail brokerage. headquartered in Herndon, Va., the company has offices in London, New York, Singapore and New Delhi. Major investors are Safeguard Scientifics, Inc. (NYSE: SFE) and SRA International, Inc. (NYSE: SRX). For further information please visit www.mantas.com.
For more information, contact:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com
Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com
Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com
Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com