June 5th
Bancaribe Curacao Bank, N.V. demonstrates leadership and commitment to financial compliance by implementing Haydrian’s XM3 Risk Management Solution Caracas, Venezuela – June 22nd, 2006: Bancaribe Curacao Bank, N.V., one of the leading off shore banks in Curacao announced today their decision to implement Haydrian XM3® Anti-Money Laundering and Risk Management Solution from Haydrian International, a global provider of Anti-Money Laundering (AML) analytics, risk management and reporting technology. Demonstrating strong leadership in the risk prevention and management field is one of the highest priorities of Bancaribe. “By supplying us with a sophisticated system to improve our daily check of the activities executed by our customers and furthermore give us the possibility to archive the investigations, will shrink filing and paperwork; thus increasing the possibility to have all information close at hand when urgently needed” said Gilberto Decán, Manager of Project Development, regarding Bancaribe’s decision to implement Haydrian XM3. Haydrian is an emerging global leader in the Risk Management Solutions market. Haydrian offers a premier detection, prevention and risk management platform that safeguards the reputation of financial institutions at the lowest total cost. Haydrian solutions were designed and developed from the ground up, to effectively address the increasing demands of Anti-Money Laundering (AML) compliance for financial institutions of any size worldwide. “We’re very glad to have been selected by Bancaribe after their diligent evaluation of several risk management alternatives. Bancaribe’s selection of Haydrian XM3 after an exhaustive review which included several key functional and technical considerations, confirms that XM3’s flexibility, combined with Haydrian’s subject matter expertise, are very important to our customers” said Alex Logan, Vice President of Haydrian Latin America/Caribbean Region. About Bancaribe Curacao Bank, N. V.
Bancaribe Curacao Bank, N.V., is a subsidiary of Banco del Caribe, C.A., Banco Universal, headquartered in Caracas Venezuela who is also an affiliate of Scotiabank of Canada. Since 2002, Banco del Caribe has been a leader in risk prevention. They were one of the first financial institutions to establish a methodology intended to confront the challenges of integral risk with the forward-looking objective of fully adapting the principles of Basel II as well as Resolution 136-01 of the Superintendent of Banks and Other Financial Institutions (Sudeban). About Haydrian
Haydrian Corporation provides risk management solutions for financial institutions (banks, brokerage, insurance and money service businesses) around the world. Haydrian XM3 is a premier detection, prevention and risk management platform for financial institutions which delivers a combination of the highest levels of regulatory compliance at the minimum total cost of ownership. Haydrian is led by a team of experienced senior executives with a successful track record in international banking, compliance monitoring, consulting, financial services, credit analysis and risk management. In addition to corporate offices in the United States, Lebanon, U.A.E., Egypt, Pakistan, Indonesia, Spain, Mexico City, Panama and Colombia. |