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Jersey company at the forefront of global anti-money-laundering technology development

By JerseyAdmin on Tuesday, October 20, 2009
Filed Under: Finance & Business, Jersey

Isle News, 20 October 2009 – Touchstone (C.I.) Limited has launched two new software products that will help Jersey wealth management companies meet the demands of international anti-money-laundering regulations and further support Jersey’s white list status.

Speaking at the launch of Microsoft Dynamics NAV 2009 in Jersey recently, Steve Farr, Product Solutions Marketing Manager, Microsoft UK said: ‘Of the 2000 plus add on solutions developed by Microsoft Dynamics NAV partners worldwide, Touchstone’s use of the product is one of the most advanced implementations of intellectual property I have seen. At a time when offshore jurisdictions are under increasing pressure from regulatory authorities to adhere to the highest levels of risk monitoring, this technology will significantly enhance wealth managers’ abilities around the world to monitor and report financial irregularities.’

The Scrutiny & Transaction Monitoring and Workflow modules have been in developed by Touchstone over the last eighteen months as part of its fiduciary and funds administration product suite, built on the Microsoft Dynamics NAV platform.

Helen Hatton of Sator Regulatory Consulting and former Deputy General of The Jersey Financial Services Commission, added: ‘Risk and compliance technology plays a key role in recognising the signs of financial irregularities. I shall be interested to see the ways in which technology such as this can provide greater transparency to businesses’.

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