With the ever-increasing emphasis on being able to demonstrate adequate anti money laundering procedures and prevention techniques, plus the draconian penalties for those failing to maintain suitable evidence of such activity, no financial institution can afford to be without an automated system such as MLTrac.

MLTrac is part of our portfolio of banking software and is dedicated to identifying, tracking and regulating potentially suspicious or illegal activities in respect of money laundering and/or the proceeds of crime.


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MLTrac enables financial institutions to improve their internal disciplines,supplement their policies and procedures, and make a clear statement to the authorities about their commitment to effective anti money laundering controls.

MLTrac's functionality is based upon a combination of our experience, together with contributions from our customer base and the relevant international financial authorities. Regular updates also take account of any future changes in market requirements and legislation.

Functions:

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KYC Document Management - The definition, scanning, management and tracking of customer documentation, and reporting of any deviations.
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KYC Account Monitoring -The tracking of movements over account(s) looking for deviations outside of a pre-determined profile.
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Manual Watch List Checking. Enter a name and the system will check to see if the name, or like sounding names, appear on any of the watch lists (e.g. OFAC, Bank of England and others) that the system monitors
* Message Monitoring. MLTrac can be configured to check all inbound and outbound messages, irrespective of format, to see whether any field (normally the Ordering Customer and Beneficiary) appears on one of the supported checklists. The bank has control over the granularity of the name checking so as not to create too many false alerts. Messages that fail Watch List Checking are put to a quarantine queue for manual intervention. Full Audit Trails of all checks and actions taken is maintained by the system.
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Cash Remittances. For the many institutions that originate from a country with a large overseas population the problems associated with accepting cash for remittance back home when taken against the potential ramifications of anti money laundering legislation means that the business is very risky and, often, not worth doing. The Cash Remittances module does away with this fear. Information concerning the remitter is maintained as part of the KYC Documentation Management module and is displayed and made available to the teller at the point of capturing data. A full record off all remitters and beneficiaries is maintained. Limits can be placed upon the individual remitter and upon the ultimate beneficiary (irrespective of source). The resulting SQL database can be interrogated for unusual payment patterns.

Automated scheduling of Avaloq Banking System (ABS) and enterprise systems with UC4 Workload Automation Suite

VIENNA, February 3, 2009 – UC4 Software, a leading global provider of workload automation, job scheduling and IT process optimization solutions, today announced the certification of UC4 Workload Automation Suite for use with the Avaloq Banking System (ABS) version 2.6. The companies have also signed a partnership agreement that will enhance Avaloq to refer customers requiring a complementary scheduling and automation solution to UC4 Software.

“The certification of the UC4 adapter enables organisations to utilise a complementary technology that has been successfully tested and validated against our Model Bank environment,” said Adrian Bult, COO, Avaloq Evolution AG. “Joint customers will be able to increase the return on their existing technology investments leveraging a solution that interfaces directly with the Avaloq Banking System.”

Avaloq solutions are changing the IT landscapes within private and retail banks in Switzerland, Germany, Liechtenstein, Luxembourg, Singapore, Hong Kong and other markets. With UC4 Workload Automation Suite enterprises remove manual intervention, reduce latency and mitigate risk from their end-to-end business processes. The UC4 Business Integration for Avaloq communicates directly with ABS through application interfaces, allowing customers to extend the automated scheduling of their core banking systems and integrate with external applications.

UC4 Workload Automation Suite can manage back-end processing for ABS and all other surrounding systems that many finance institutes rely on. Avaloq users receive regular software updates which support banks in remaining compliant with industry regulations. When utilizing additional tools it is important that Avaloq users work with solutions that are compatible and certified for use with Avaloq. This reduces maintenance and support issues and allows joint customers to benefit from the enterprise wide visibility and control provided by UC4.

“It gives UC4 great pleasure to extend its relationship with Avaloq,” said Cesare Capobianco, chief executive officer, UC4 Software. “We have benefited from an excellent working partnership working towards receiving this certification. It has allowed us to develop an interface that is compliant with Avaloq’s technical specifications, which also delivers measurable business value to our joint customers.”

About Avaloq
The Avaloq Group, with branches in Luxembourg and Singapore, is the Swiss market leader in the field of standard banking software. For over a decade, the Swiss company has been developing and marketing the Avaloq Banking System. It is trusted by leading financial service providers in private, retail and universal banking in international financial centres around the globe. A network of specialists with first-class partners in the areas of implementation, software, service and technology enables Avaloq to offer its clients a comprehensive all-in-one solution – a modular, innovative and integrated standard software for the financial sector. Avaloq is owned by its management and employees.

About UC4 Software
UC4 Software is a leading global provider of workload automation, job scheduling and IT process optimization solutions that ensure core business processes and enterprise information systems run faster, more accurately and without interruption. More than 1,600 companies worldwide have successfully enhanced application processing performance and improved IT efficiency using UC4’s business acceleration solutions. Customers include American Suzuki Motor Corporation, Cadbury, eBay, Eastman Kodak, General Electric, Mattel, McGraw Hill, Panasonic, Robert Bosch, Sun Microsystems, Symantec, T-Systems and Verizon

Do you have what it takes to become a successful Forex Trader?
Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.

1. You must be Passionate about what you do.

As Forex traders we all face one unique set of circumstances that does not exist in any other profession. We get rewarded for when we succeed and equally punished when we don’t! Could you image a corporate worker one quarter receiving a significant accomplishment bonus and the next quarter actually getting money taken from their paycheck for missing performance targets? Not on your life!

We do as Forex traders and that is why passion for what you do will carry you through the tough times that are part of your trading business. Asked yourself why you trade currencies and would you still do it if Forex were not potentially lucrative? Your answers will be quite revealing. You’ve got to feel your passion for trading!

2. You have to Apply Yourself and work hard at it.

I talk to so many people that enter into Forex trading with the aspiration of getting rich quick. Without putting the time and energy into really getting good at trading I see them jump from strategy to strategy looking for the goose that will lay the golden egg and eventually quitting while blaming everything else, except the true cause.

I got news for you – you are the goose and your Forex education is the golden egg. The magic has always resided with the magician and not some strategy. Work hard at trading and the rewards will eventually come your way. Remember what Tiger Woods said, “Funny, the harder I work the luckier I get.” Apply yourself as a trader and it will be no accident when your account begins to blossom.

3. You must Focus to really get good at what you do.

Now here is the hurdle most Forex traders struggle to get over. You have the passion and you are applying yourself to your trade, now focus and really get good at just at what you are doing. Be the expert to the experts at just that one thing. Become the master of a strategy or risk management methodologies. Really focus on getting good at it.

Stop jumping around or getting pulled from the last “latest and greatest” into the next “latest and greatest” and focus on one aspect of Forex trading and know it inside out. Know it strengths and weakness. Set your sights on becoming expert on just one aspect of trading and watch it spill over in all other aspects for your currency trading. This is the time to fail forward fast, use every setback as a learning opportunity that will propel you 3-steps ahead!

4. You must Push Yourself beyond the point everyone else might have quite.

In Forex Trading this is simple. Assume there is someone on the other side of your trade that is pushing themselves and sharpening their edge. To be successful you must you must do the same thing. Now is the time to examine your mental edge. Do you know the single most critical factor in any currency trade? It is you, the trader! Sharpening you mental edge is the most difficult aspect of trading, but also the most rewarding.

Start with your Forex education and gain the self-awareness necessary to maximize your strengths and suppress your weaknesses. Any expert will tell you that trading is 80% mental. It’s time to sharpen your trading to the razor’s edge and you do this through Forex education. A constant and never ending process that will become the cornerstone of your Forex experience.

5. You must, without wavering, be Determined and Persist to your objective.

You will fail. I can state that emphatically. However, you will not be defeated unless you allow your failures to control your trading. It is the old adage; failure is not falling of your horse, failure is refusing to get back on. Your success depends on your ability to dismiss the criticism, rejection, self-doubt and pressures associated with Forex trading.

Defining what is a winning trade, losing trade and bad trade will go a long way into developing you as a successful trader. Without the determination and persistence in all aspects of your trading life, obstacle will definitely appear closer and larger than they actually are.

Take a moment and assess yourself and your trading. Do you have the key elements to succeed? Which areas are presents development opportunities? When conducting a self-evaluation it is critical to be totally upfront and honest with yourself. After all, you will only be dishonest with yourself. One of the most interesting observations you can make is that all key success factors are interwoven. One factor supports the other. This is why your Forex education is a continuous journey of forex strategy, money management and self-mastery. Set these factors as your Forex education goals and take your currency trading to new heights.