Sword FircoSoft extended its presence in the insurance market with the announcement that it will be providing Zurich Financial Services Group (Zurich) with software to filter customer data. As part of ongoing enhancements and developments to strengthen and optimize its Anti Money Laundering and Counter Terrorist Financing framework, Zurich, one of the world’s largest insurance groups, chose Firco Trust, from Sword FircoSoft.
Sword FircoSoft’s Filtering Suite has been selected by Zurich and will enable them to filter their third-party information and detect any listed party in their customer portfolios. Sword FircoSoft’s technology will be deployed to filter millions of records against selected sanctions and Politically Exposed Persons (PEPs) lists.
Markus Schulz, Chief Compliance Officer Global Life & Banking and Group Financial Crime Officer Group Compliance at Zurich:
“This move is the logical next step in our Anti Money Laundering & Counter Terrorist Financing programme. We selected Sword FircoSoft for their leadership and global experience in this area.”
Jean Losco, Executive Director, Sword FircoSoft:
“We are very proud to closely work with Zurich on a very challenging worldwide implementation. Working together in a long term approach with immediate benefits is one of the key factors that sets Sword FircoSoft as the standard in filtering. We have been filtering for our customers since 1994.”
Steve Hamel, Sales Manager, Sword Fircosoft:
“We are honoured that Zurich has selected Sword Fircosoft to enable it to remain ahead of global compliance requirements. To us, this partnership also demonstrates Sword FircoSoft’s ongoing dedication to provide the best of breed filtering solution to the insurance sector as it has for the past 15 years with the banking sector.” *
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Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.