Hummingbird Ltd., a provider of integrated enterprise content management (ECM) and network connectivity solutions, has announced it is partnering with L-3 Communications Titan Group to deliver a solution that addresses the customer identification and investigation case management aspects of anti-money laundering (AML).
L-3 Communications Titan Group, a provider of comprehensive information and communications products enterprise IT solutions, has developed a financial crime intelligence gathering and investigation solution based on Hummingbird Enterprise. This offering includes Hummingbird's core document and records management capabilities integrated with Hummingbird BI, Hummingbird's query, analysis, and reporting product. The solution satisfies AML compliance requirements by addressing Know Your Customer issues, streamlining the identity verification processes, and enforcing best practices for criminal investigations. This solution was designed for financial institutions, which must comply with governing requirements such as The USA PATRIOT Act; the UK Proceeds of Crime Act; and Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Hummingbird Enterprise offers a solution that ensures critical identification information including documents, images, emails, and other information related to a specific account can be captured and profiled at the point it is obtained and then saved to the content repository for retrieval. The storage and security of the customer's content and the ability to search and retrieve customer identification information as required are all supported in the Hummingbird solution for AML compliance. Compliance teams and auditors will have access to relevant information, when required. Hummingbird Enterprise offers the following additional functions: business reporting tools to help transform customer information and investigation results into intelligence, where organizations can analyze activity trends, risk exposure, and worker performance; automated workflows to ensure procedures are followed and carried out on schedule; and a team collaboration framework that offers a secure workspace for both internal and external sources involved in an investigation.