Mary-Louise Hoffman
Information Builders has partnered with risk advisory firm IPSA International to offer a software application product for companies to manage risks in trade finance transactions.
OmniTrade‘s goal is to help financial institutions comply with the U.S. Treasury Department‘s anti-money laundering and counter-terrorist financing rules, IPSA said Thursday.
The companies showcased the platform at the FIBA AML conference held in Miami.
Dan Wachtler, IPSA president and CEO, said the partnership was formed to combine IPSA’s investigative consulting services and Information Builders’ data analytics and integration technologies.
The OmniTrade AML software app is designed to link systems for managing letter-of-credit and other trade payment documents with financial networks.
Information Builders and IPSA also intend for the platform to help industry users notify stakeholders of any suspicious transaction.
