Distributed Matching and Analytics Technology quickly maps name derivatives across disparate systems and serves up flagged customer accounts enabling banks to respond faster
BOSTON — May 9, 2016 — Pneuron Corporation, a leader in business orchestration software, today announced a special packaged offering specifically created for banks looking to mitigate their risk in the Panama Papers scandal. Pneuron’s Panama Papers Discovery offering enables banks to quickly identify if flagged accounts are listed in their distributed systems, gain visibility into the account linkages across the institution and gather results for reporting and review.
The Panama Papers are a set of 11.5 million leaked documents that detail financial and attorney–client information for more than 214,000 offshore companies associated with the Panamanian law firm and corporate service provider, Mossack Fonseca. The worry for the banks is that the Panama Papers raise the prospect of yet more scrutiny, additional regulation and compliance and the risk of more fines.
With Pneuron’s Panama Papers Discovery, banks can:
• Rapidly connect to diverse and often siloed data sources including Customers, Accounts, Transactions, and Investigations to extract targeted data required for processing
• Integrate data extraction, analyses, and application of business rules within one transparent and highly configurable workflow
• Rapidly and flexibly respond to further disclosures, regulatory decrees, and risk-driven priorities
• Deliver actionable intelligence directly into diverse business operations to accelerate value realization
Many banks are scrambling to assess their exposure but lack the agility and flexibility required to react quickly when a scandal like the Panama Papers breaks. Banks today rely on a mix of manual processes spread over a highly distributed collection of data that is often handicapped by the lack of a Single Entity Master, making it even more labor and time-intensive to track down all accounts and quickly react to breaking news. With Pneuron, banks can flexibly connect to existing applications, infrastructure, services and data to create and deliver actionable intelligence directly into business operations.
Pneuron is business orchestration software that allows firms to rapidly realize value where critical solution components reside in a wide range of distributed and disparate sources. Deployed as a non-invasive, distributed processing network utilizing 50 types of pre-configured mini applications (“pneurons”), Pneuron opens up solution deployment to SMEs and Analysts through a visual, configuration-driven approach.
“As Warren Buffet once said, ‘It takes 20 years to build a reputation and 5 minutes to ruin it and if you understand this you will do things differently’,” said Simon Moss, CEO and president of Pneuron. “Pneuron gives banks the ability to target, design, deploy and optimize the intelligent analytics required for today’s pace of business. Our focus on agility also accelerates learning and improvement cycles which helps mobilize the entire organization.”
Pneuron’s Panama Papers Discovery offering is available immediately for both existing and new customer deployments. For more information, visit: http://pneuron.com/panamapapers/
Pneuron’s proprietary business orchestration software enables organizations to flexibly leverage their existing applications, infrastructure, services and data to create and deliver actionable intelligence – in half the time and cost. Through Pneuron’s innovative, distributed approach, companies are no longer faced with the complex centralization and integration requirements of traditional approaches. Pneuron and its patented groundbreaking technology have garnered numerous awards and recognitions including: MIT Sloan School CIO Enterprise Innovator Award, 2015 Gartner Cool Vendor, CRN’s 2015 Emerging Vendors designation and SD Times Company to Watch. For more information, visit us online at: Pneuron.com, on Twitter or LinkedIn.