Skipton Building Societyhas
implemented Compliance Alert from Northland Systems as itsanti-money laundering and fraud detection
system.
Compliance Alert has replaced an existing manual in-house system
at the building society.
The system has been used to support the launch of Skipton's
internet savings account, which is strategically significant to the
society's online business.
Kathryn Payne, head of compliance at Skipton, said, "We chose
Compliance Alert for its ability to execute quickly and
efficiently. The implementation underpins regulatory compliance and
security on Skipton's entry into the key online savings
market."
Online savings accounts require a speedy and sophisticated level
of compliance to satisfy regulatory requirements.
Compliance Alert addresses these by providing interfaces to
third-party systems, including CallCredit for third-party client
identification and verification.
Skipton's subsidiary Bailey Computer Services, which operates a
bureau and managed services business, will also be making
Compliance Alert available to its clients.