SOURCE: EastNets


February 22, 2011 11:00 ET

EastNets Wins 2011 Kinetic Process Innovation Award for Its Anti-Money Laundering Solution

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - February 22, 2011) - EastNets, a leading global provider of compliance and payments solutions, announced today that it has received the 2011 Kinetic Process Innovation Award for excellence in the Banking Technology category. Now in its 14th year, the awards program recognizes excellence in information technology and this year is sponsored by High Tech Views, an online publication that spotlights technology innovation.

EastNets was selected by a panel of experts based on its en.SafeWatch Filtering solution for OFAC, PEP and SWIFT message screening, and en.Reporting solution for FIN/XML message monitoring being used at Bermuda Commercial Bank. The business benefits that were most impressive to the judges included the solutions' robust matching engine enabling rapid identification of anti-money laundering risks while limiting false positives, and direct SWIFT message screening and reporting.

"The Kinetic Process Innovation Award not only recognizes outstanding technology and the creative implementation of that technology, but also acknowledges EastNets' extensive awareness of critical compliance and transactional risks involved in banking today," said Drew Barrows, deputy editor of High Tech Views. "EastNets clearly takes an approach that focuses on the technical challenges at hand and demonstrates its strong commitment to protect the integrity and safety of the financial systems."

"The Kinetic Process Innovation Award is an excellent recognition that honors superior applications for their business effectiveness," said Hazem Mulhim, CEO of EastNets. "We are delighted to be receiving this award based on the benefits and value Bermuda Commercial Bank has derived from our anti-money laundering and SWIFT reporting solutions."

EastNets en.SafeWatch Filtering solution is used today by over 400 Financial Institutions in 80 countries providing robust sanctions screening to ensure compliance with OFAC regulations, mitigate financial crime and meet anti-terrorist financing guidelines. en.SafeWatch Filtering offers real-time blocking, provides NACHA IAT screening capabilities, supports all sanctions lists, and provides direct SWIFT message screening. Its highly sophisticated OFAC screening and filtering engine ensures rapid identification of potential risks while limiting false positives, thereby saving substantial time and money. en.SafeWatch acts as the central monitoring point for all financial traffic, irrespective of data format and where it may reside. It is rapidly deployable and offers seamless integration with existing systems.

EastNets en.Reporting solution is used today by over 180 customers, enabling SWIFT Alliance users to benefit from one central view to investigate, monitoring and report all their FIN and XML traffic within one environment.

About Kinetic Process Innovation Awards
The awards program was founded by Kinetic Information LLC in 1996 and is sponsored by various technology publications. The 2011 awards, sponsored by High Tech Views, recognize innovation in the application of information technology. Awards focus on the business benefits user organizations derive from their technology systems. Winners are selected by a panel of experts consisting of independent professional consultants who are recognized authorities in their fields. The judging process is free of any vendor or other bias so the emphasis remains on the business benefits provided by each winning implementation.

About EastNets
EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporations around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, please visit

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