Home Trust Strengthens Its AML Transaction Monitoring With BAE Systems Detica
NEW YORK, NY -- (Marketwire) -- 03/12/13 -- BAE Systems Detica today
announced that Home Trust Company, a wholly owned subsidiary of Home
Capital Group Inc. (TSX: HCG) and one of Canada's largest federally
regulated trust companies, has selected the Detica NetReveal(R) risk
and compliance solution to enhance the company's anti-money
laundering, anti-terrorist financing and sanctions monitoring
Home Capital Group Inc. is a holding company and operates through its
principal subsidiary, Home Trust Company. Home Trust is a federally
regulated trust company offering deposit, mortgage lending, retail
credit and credit card issuing services.
The agreement with Detica NetReveal highlights Home Trust's proactive
efforts to strengthen the company's compliance infrastructure and
commitment to deploying leading edge regulatory tools and
As its overall business grows, Home Trust is dedicated to ensuring
the highest standards of regulatory compliance by implementing a
proven and internationally accredited AML compliance system.
Detica NetReveal is an end-to-end enterprise-wide solution that
supports the management of AML detection and investigation. The
solution additionally enables organizations to integrate AML programs
such as Watch List Management, specialized transaction monitoring,
Sanctions and PEP (politically exposed persons) screening.
Detica NetReveal uses statistical and analytical techniques to
identify patterns of unusual and suspicious behaviors by building
profiles of individuals and comparing their activity against expected
Gerald Soloway, Chief Executive Officer for Home Trust Company said:
"Home Trust is committed to the highest levels of regulatory
compliance and operational efficiency. We wanted a globally proven
solution to effectively and accurately identify activity that could
be potentially linked to financial crime."
Joe Friscia, President of the Americas, BAE Systems Detica said:
"Financial institutions can no longer get by with spreadsheets or
home-grown interfaces that require high levels of manual
intervention. FINTRAC(1) has a mandate to deliver an effective
national risk-based compliance program in Canada by 2014, and in
order to satisfy the demands of the regulators and protect their
honest customers, organisations will have to deploy auditable and
automated risk and compliance frameworks to help prevent financial
Notes to editors
(1) The Financial Transactions and Reports Analysis Centre of Canada
(FINTRAC), Canada's financial intelligence unit, was created in 2000.
It is an independent agency, reporting to the Minister of Finance,
who is accountable to Parliament for the activities of the Centre. It
was established and operates within the ambit of the Proceeds of
Crime (money Laundering) and Terrorist Financing Act (PCMLTFA) and
About Detica NetReveal
Detica NetReveal is a leading provider of risk, fraud and compliance
solutions to a wide range of financial services and government
clients across the globe. The NetReveal suite of solutions combines
predictive analytics with advanced social network analysis to
identify suspicious behaviors more accurately than other solutions.
The power of our approach lies in the combination of specialist
industry expertise with proven technology. We provide our clients
with intelligence to more accurately assess the risk of the
individual by better understanding the risk associated with the
networks in which they operate. With over 130 clients across five
continents, including six of the world's current top 10 financial
institutions, Detica NetReveal has a proven track record of tackling
fraud, improving operational intelligence and reducing financial
losses and reputational risk. Detica NetReveal, incorporating Norkom
Technologies, is a business division of BAE Systems Detica.
For further information, please visit www.deticanetreveal.com
About BAE Systems Detica
BAE Systems Detica delivers information intelligence solutions to
government and commercial customers. We help them collect, exploit
and manage data so they can deliver critical business services more
effectively and economically. We also develop solutions to strengthen
national security and resilience.
We integrate and deliver world-class solutions to our customers' most
complex operational problems -- often applying our own unique
intellectual property. Our services include cyber security, managing
risk and compliance, data analytics, systems integration and managed
services, strategy and business change and the development of
innovative software and hardware technologies.
Detica is part of BAE Systems, a global defence and security company
with approximately 100,000 employees worldwide. BAE Systems delivers
a full range of products and services for air, land and naval forces,
as well as advanced electronics, security, information technology
solutions and customer support services.
BAE SYSTEMS, DETICA, NETREVEAL are registered trade marks of BAE
Head of PR and Media
BAE Systems Detica
Telephone +44 (0) 20 7812 4274
Mobile: +44 (0) 7787 297 831
Articulate Communications Inc.
Telephone +1 212 255.0080, ext. 20
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