Skipton Building Society has deployed Compliance Alert from Northland Solutions as its anti-money-laundering and fraud-detection system.
The catalyst behind its decision to upgrade its manual and in-house systems was the launch of the UK mortgage and investment firm’s internet savings account. It said swapping to Compliance Alert provided the faster and more sophisticated level of compliance required to meet regulatory requirements for the new service, including interfaces to other software such as Callcredit, which handles client identification and verification. Skipton said it was able to upgrade to Compliance Alert in just seven weeks in time for the launch.
The Compliance Alert implementation underpins regulatory compliance and security on Skipton’s entry into one [innovative] area – the key online savings market, said Kathryn Payne, head of compliance at Skipton.
Bailey Computer Services, Skipton’s bureau and managed services subsidiary, will also be making Compliance Alert available to clients.