Home Capital Group Inc. is a holding company and operates through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering deposit, mortgage lending, retail credit and credit card issuing services.
The agreement with Detica NetReveal highlights Home Trust’s proactive efforts to strengthen the company’s compliance infrastructure and commitment to deploying leading edge regulatory tools and technologies.
As its overall business grows, Home Trust is dedicated to ensuring the highest standards of regulatory compliance by implementing a proven and internationally accredited AML compliance system.
Detica NetReveal is an end-to-end enterprise-wide solution that supports the management of AML detection and investigation. The solution additionally enables organizations to integrate AML programs such as Watch List Management, specialized transaction monitoring, Sanctions and PEP (politically exposed persons) screening.
Detica NetReveal uses statistical and analytical techniques to identify patterns of unusual and suspicious behaviors by building profiles of individuals and comparing their activity against expected norms.
Gerald Soloway, Chief Executive Officer for Home Trust Company said:
“Home Trust is committed to the highest levels of regulatory compliance and operational efficiency. We wanted a globally proven solution to effectively and accurately identify activity that could be potentially linked to financial crime.”
Joe Friscia, President of the Americas, BAE Systems Detica said:
“Financial institutions can no longer get by with spreadsheets or home-grown interfaces that require high levels of manual intervention. FINTRAC(1) has a mandate to deliver an effective national risk-based compliance program in Canada by 2014, and in order to satisfy the demands of the regulators and protect their honest customers, organisations will have to deploy auditable and automated risk and compliance frameworks to help prevent financial crime.”
- Ends -
Natasha Davies, Head of PR and Media, BAE Systems Detica
Telephone +44 (0) 20 7812 4274
Mobile: +44 (0) 7787 297 831
Rosemarie Esposito, Articulate Communications Inc.
Telephone +1 212 255.0080, ext. 20
Notes to editors
1.The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's financial intelligence unit, was created in 2000. It is an independent agency, reporting to the Minister of Finance, who is accountable to Parliament for the activities of the Centre. It was established and operates within the ambit of the Proceeds of Crime (money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations.
About Detica NetReveal
Detica NetReveal is a leading provider of risk, fraud and compliance solutions to a wide range of financial services and government clients across the globe. The NetReveal suite of solutions combines predictive analytics with advanced social network analysis to identify suspicious behaviors more accurately than other solutions.
The power of our approach lies inthe combination of specialist industry expertise with proven technology. We provide our clients with intelligence to more accurately assess the risk of the individual by better understanding the risk associated with the networks in which they operate. With over 130 clients across five continents, including six of the world’s current top 10 financial institutions, Detica NetRevealhas a proven track record of tackling fraud, improving operational intelligence and reducing financial losses and reputational risk.Detica NetReveal, incorporating Norkom Technologies, is a business division of BAE Systems Detica.
For further information, please visit www.deticanetreveal.com
About BAE Systems Detica
BAE Systems Detica delivers information intelligence solutions to government and commercial customers. We help them collect, exploit and manage data so they can deliver critical business services more effectively and economically. We also develop solutions to strengthen national security and resilience.
We integrate and deliver world-class solutions to our customers’ most complex operational problems – often applying our own unique intellectual property. Our services include cyber security, managing risk and compliance, data analytics, systems integration and managed services, strategy and business change and the development of innovative software and hardware technologies.
Detica is part of BAE Systems, a global defence and security company with approximately 100,000 employees worldwide. BAE Systems delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services.
BAE SYSTEMS, DETICA, NETREVEAL are registered trade marks of BAE Systems plc.