Sword FircoSoft, the leading global provider of watch list filtering solutions, and Expertus, Swift Regional Business Partner and Service Bureau provider, announced the immediate availability of Firco as a Service, the unique on-demand watch list filtering service relying on Sword FircoSoft's filtering suite in Canada.
Firco as a Service delivers a proven watchlist filtering solution in a secure, safe, and robust environment designed for small and medium sized organisations. The service offers transaction based pricing that provides institutions with a total low cost of ownership for their filtering needs. Additionally a rapid on-boarding process ensures clients gain efficiency savings in a matter of weeks.
Firco as a Service offer a wide range of filtering options, from simple look up into the sanctions lists or internal lists to real-time filtering of high value payments. Firco as a Service features Firco Continuity and Firco Trust products.
Firco Continuity allows filtering financial transactions such as Swift, Fedwire, Chips, International and Canadian ACHs, in real time or in retrospective. Plug-and-play integration with most of the core banking applications is also available to reduce the effort required on the customer site.
Firco Trust allows institutions to check instantly on customer and counterparty data against selected lists as well as upload and filter a customer file. Integration with the legacy system of an institution is also possible thanks to the secure access offered by Expertus.
"We are glad to launch this new service jointly with Expertus, our long time business partner. Firco as a Service will bring to Canadian financial and non-financial institutions the quality of watch list filtering used today by 9 of the top 10 Banks across Canada. We truly believe that Firco as a Service represents a flexible and cost-effective solution while guaranteeing compliance with domestic and international regulations", Mr. Laurent Corbel, Sales Director, Sword FircoSoft, says.
"Firco as a Service fits well in our global SaaS offering. Firco as as Service joins other Bank critical services like Payment as a service, RTGS as a Service and E&I as a Service already offered on our service bureau. Firco as a Service also features high integration capability with banking system, which makes it available on a large scale of banking platforms", Mr.Jacques Leblanc, President, Expertus, adds.