NEW YORK (March 27) -- GIFTS Software (www.giftssoft.com),
a leading provider of anti-money laundering, funds transfer,
and e-banking solutions, announced today that Midwest
Bank & Trust Company has selected the GIFTSWEB EDD
Anti-Money Laundering solution.
The implementation of the GIFTSWEB EDD product will assist
Midwest Bank & Trust Company with AML compliance regulations.
GIFTSWEB EDD is comprised of the five following modules,
each of which can be implemented separately or as a total
solution:
-- Subpoena/Inquiry Module - allows the user to perform
real-time
inquiries against a database of transactions and respond
to regulators,
subpoenas or internal inquiries.
-- Profiler Module - Provides AML & terrorist financing
detection
scenarios and the ability to filter transactional or customer
data for
specific information such as PEPs, 314a, OFAC/SDN List,
Sanction Lists,
FSA, and NCCTs.
-- Patterning Module - develops transaction pattern
detection scenarios
for each account or group of accounts allowing comparison
of activity
periodically to report unusual variances.
-- OFAC/Sanction List Module - allows automated interdiction
list
filtering of transactional & customer data via real-time
or file-based
interface.
-- CIP Module - scans new accounts in real-time or batch
against any
sanction list in order to comply with Section 326 of the
USA PATRIOT
Act.
Midwest Banc Holdings, Inc. provides a wide range of
retail and commercial lending services, personal and corporate
trust services, residential mortgage origination, and
securities and insurance brokerage activities throughout
the greater Chicago metropolitan area. The Company's principal
operating subsidiaries are: Midwest Bank and Trust Company,
Midwest Financial and Investment Services, Inc., Midwest
Bank Insurance Services, LLC, and Royal American Investment
Services, Inc. Information on Midwest Banc Holdings, Inc.
is available at http://www.midwestbanc.com.
GIFTS Software is a leading provider of compliance solutions.
In addition, GIFTS Software provides the world's most
integrated funds transfer, e-banking, and customer relationship
management systems. To discover how the GIFTS family of
products can help streamline your business process, reduce
costs, improve customer service and mitigate operational
risks, please contact Paul Campanaro at 646-865-1301,
Ext. 217 or Paul Gdanski at Ext. 240 or via email at pcampanaro@giftssoft.com
or pgdanski@giftssoft.com.
SOURCE: GIFTS Software
