Satyam Wins Pegasystems Partner Innovation Award for Anti-Money Laundering Solution
October 30 2007 - 12:33PM
PR Newswire (US)
Solution addresses critical need in high-growth financial services
market HYDERABAD, India, Oct. 30 /PRNewswire/ -- Satyam Computer
Services Ltd. (NYSE:SAY), a leading global consulting and IT
services provider, announced today that it won the 2007 Pegasystems
Partner Innovation Award in financial services. The announcement
was made at PegaWORLD 2007, Pegasystems' annual conference, and one
of the business process management (BPM) industry's flagship
events. Satyam won the esteemed award for its advanced Anti-Money
Laundering (AML) solution, which enables financial institutions to
intelligently track, manage and quickly resolve potentially
fraudulent and criminal activity with greater speed and accuracy
and to comply with stricter AML regulations. Satyam used
Pegasystems' SmartBPM(R) Suite to create the new solution, which
addresses a critical and underserved need in the market. "Financial
institutions now have an innovative way to fight fraud and
financial crime, as well as stay in compliance with BSA/AML/KYCC
statutes," said Anil Kumar, the Global Head of Satyam's Financial
Services Business. Integration among Satyam experts accelerated the
solution's development and deployment. "Satyam's business process
management and banking experts leveraged Pegasystems' SmartBPM
platform to rapidly deliver an advanced solution without additional
and costly software development," said Joseph Lagioia, head of
Satyam's Consulting and Enterprise Solutions Practice. "We are very
proud and pleased to win this prestigious honor." Satyam's AML
solution optimizes a financial institution's existing
transaction-monitoring systems-detecting suspicious activity such
as the deposit of very large sums, multiple accounts for the same
person, and suspicious names-while at the same time minimizing the
number of false positives, which has been a nagging problem in the
past. The solution also allows financial institutions to recognize
suspicious transactions quickly, rather than waiting until the end
of the day, which is the norm for institutions using case
management systems. "Satyam combines superior subject matter
expertise in financial services with deep understanding of
Pegasystems technology to deliver truly innovative business
solutions in an accelerated fashion," said Douglas Kim, managing
director of Global Alliances and Business Development for
Pegasystems. "We're proud of our long-standing relationship with
Satyam and are delighted to recognize them with this award." About
Satyam Satyam (NYSE:SAY), a leading global business and information
technology services company, delivers consulting, systems
integration, and outsourcing solutions to clients in 20 industries
and 57 countries. Satyam leverages deep industry and functional
expertise, leading technology practices, and an advanced, global
delivery model to help clients transform their highest-value
business processes and improve their business performance. The
company's 45,700* professionals excel in engineering and product
development, supply chain management, client relationship
management, business process quality, business intelligence,
enterprise integration, and infrastructure management, among other
key capabilities. Satyam development and delivery centers in the
US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China,
Malaysia, Singapore, and Australia serve 599* clients, 173 of which
are Fortune Global 500 and Fortune US 500 corporations. For more
information, see http://www.satyam.com/. *As of Sept. 30, 2007 Safe
Harbor This press release contains forward-looking statements
within the meaning of section 27A of Securities Act of 1933, as
amended, and section 21E of the Securities Exchange Act of 1934, as
amended. The forward-looking statements contained herein are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those reflected in the forward-
looking statements. Satyam undertakes no duty to update any
forward-looking statements. For a discussion of the risks
associated with our business, please see the discussions under the
heading "Risk Factors" in our report on Form 6-K concerning the
quarter ended June 30, 2006, furnished to the United States
Securities Exchange Commission on July 28, 2006 and the other
reports filed with the Securities Exchange Commission from time to
time. These filings are available at http://www.sec.gov/.
DATASOURCE: Satyam Computer Services Ltd. CONTACT: India: Geeta
Fadnavis, + 91-040-23220067, , for Satyam; US: Siobhan Aalders,
+1-212-880 5341, +1 347 387 0733, ; Europe: Clare Gibbins, +44-20-
7309 1037, ; Asia-Pacific: Reshma Wad Jain, +65 6737 4844, +65 981
40507, ; Simon Murphy, +61 (02) 8281 3826, ; For clarifications,
write to us at
Copyright
Saratoga Investment (NYSE:SAY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Saratoga Investment (NYSE:SAY)
Historical Stock Chart
From Jul 2023 to Jul 2024