iFinancial - International Financial Systems

Products

Our comprehensive range of banking software has been built using the latest Microsoft .NET technology and meets the requirements of most organisations irrespective of size or location. Our core modular banking software can be used either as a complete solution, or as a partial solution.

Anti Money laundering and Counter Terrorism Funding (AML & CTF) is now a major modular component designed for the Australian market.

Counter measures to combat AML and CTF are now of great importance worldwide to governments and Central Banks alike. The publication of the FATIF 40 recommendations, the Patriot Act (for those resident in and dealing with US banks), the EU Third directive on Money Laundering, the Proceeds of Crime Act in the United Kingdom and here in Australia, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, all serve to increase regulation on Financial Institutions.

Banking Software

		MLTrac™ Identifying, tracking &regulating suspicious/illegal activities in money laundering & the proceeds of crime.
		Bankware™ "customer centric" core banking software solution that runs the front, middle and back office of the bank.
		iBank™ Secure Internet banking that provides the bank's customers with access to their financial information 24/7.
		SMS Banking An easy and convenient way of sending messages to your customer's mobile phone.

Instalment Credit Finance Administration

		Sentinel Sentinel caters for a variety of forms of instalment credit, including Loans, Leases, Hire Purchase, Mortgages, Premium Funding, Contract Hire, Rental, Savings, Community Development Finance and Charge Cards.
		Journeyman Journeyman is an accounting and control system for companies offering short-term loans, revolving credit sales, hamper sales, video and TV rental, vouchers and other types of installment credit. The system is also appropriate for Credit Unions.

Middleware

		iConsolidator™ Mechanism by which information may be fed, or taken, into iBank from multiple and disparate legacy back-office systems
		iTransact™ All of the benefits of Straight Through Processing
		BEST™ The mechanism by which the transfer of data from existing system into BankWare.NET can be automated.

Technology

All of our banking software has been designed, and written, to make maximum use of current technology and modern business trends:

Architecture: Multi-level 3 tiered client/server architecture.
Programming Languages: Microsoft C++/C#
Database(s): Any SQL standard database. Typically Microsoft SQL Server
User Interface: Graphical
Server Operating System: Windows 2003
Workstation Operating System: Windows XP Pro

As a direct result many, if not all Financial Institutions now have or should have planned or begun an AML project. A major challenge for many organisations is how to strike a balance between prudence and appropriate measures, as opposed to the hysteria surrounding AML compliance and potential overspend on solutions which this hysteria may cause.

Most Institutions are acutely aware of the potential damage to their reputation that can befall even the most prestigious of organisations.

There is also the potential for litigation, regulatory body imposed fines and in the worst case, prison sentences for those involved. As time moves on further phases of the legislation will be introduced and the regulatory burden will increase.

Undoubtedly AML and CTF measures will add some costs to the business. However MLTrac can assist in keeping this cost in check, by assisting many AML/CTF project teams deliver the required level of monitoring, reporting and audit trail.