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Global Solutions for Leading
Financial Institutions
With over 450 international financial
institutions operating out of Dublin’s International
Financial Services Centre, the Irish have considerable knowledge for a wide
range of financial services. Over the past thirty years this industry expertise
has transfused into technology solutions addressing some of the most challenging
and complex issues in finance today. Global financial institutions are
choosing to work with Irish technology firms for a variety of critical business
and operational needs such as regulatory compliance management, fraud detection,
information security, payment solutions, claims management, and employee training & development.
These institutions understand that Irish companies can deliver more market evolved
solutions and can quickly adapt to the constant demands of the industry.
Forging Global Relationships
Irish companies have a long history
of partnering with North American
financial institutions, including
Bank of America, JPMorganChase, Wachovia,
Citibank, American Express, Merrill
Lynch, and Wells Fargo. For
example, Fidelity chose QUMAS to
assist them with building a compliance
system of record to manage Fidelity’s
enterprise-wide regulatory compliance
needs. David Querze, Vice President
of the Risk Oversight Group at Fidelity,
explained that “thought leadership
is irreplaceable when it comes to
compliance. QUMAS brought knowledge
about document management to the
relationship, and they helped us
provide a more efficient and effective
way to give our compliance officers
centralised control.”
When searching for a top-notch collateral
tracking system, Wachovia tapped Rockall
Technologies due to the Irish company’s
experience and ability to provide specialized
solutions. “Having evaluated
both the international and domestic
markets, we chose Rockall due to the
strength and flexibility of their product,” said
Greg Jardine, senior vice president
at Wachovia. “Rockall also is
well-equipped to provide considerable
consultancy expertise to the project.”
Celent analyst Neil Katkov recognized Norkom
Technologies, a leading provider
of financial crime and compliance
products and services, as ”one
of the few vendors that offers a
comprehensive product suite that
provides all essential components
of an AML compliance solution, including
transaction monitoring, watch list
filtering, KYC, case management,
analytics and reporting.” BMO
selected Norkom to better manage
the bank’s risk of financial
crimes and David Dixon, Director
of Fraud Containment Strategies,
stated that they “went looking
for a technology to support our vision.
What we found was Norkom Technologies.
Our experience has convinced us that
we have chosen well.”
In Gartner’sHype
Cycle for Life Insurance Technologies (June
2006), Fineos,
a leading software provider for employee
benefits and P&C Insurance, was
highlighted as...”a business-rule-driven,
componentized architecture that's
gaining a reputation as one of the
best designed policy administration
systems in the world.” The
Principal Financial Group chose Fineos
so it “can now operate with
one consistent framework for its
individual disability claims processing.
FINEOS is a very user-friendly, configurable
system and offers flexibility, scalability
and performance. Ultimately, this
application will provide us with
a stepping-stone to cost-effectively
support the claims processing needs
of our Group Disability and Group
Life products."
Driving Tomorrow’s Innovation
As a leading global financial hub,
Ireland is committed to extending
its leadership position in the financial
services technology sphere. With
corporations increasingly aware of
Ireland’s value as a premier
gateway to international capital,
worldwide financial institutions
will continue to turn to Irish companies
for the most advanced, specialized,
and market-leading technology solutions
available. To learn more about
financial services technologies available
in Ireland, please contact:
Contact:
Jacqueline Sneddon
Tel:
+1 212 546 0495
Cell:
+1 917 353 7768
Email:
Jacqueline.Sneddon@enterprise-ireland.com
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