Press Release

BankServ to resell AML Toolkit from ACE Software
BankServ’s TurboSwift integrated with ACE’s AML Guard and OFAC Guard for more effective AML control

SAN FRANCISCO, August 9, 2007 — BankServ, worldwide experts in electronic payments, announced today a strategic partnership with ACE Software Solutions, provider of intelligent payment, AML and STP solutions for the financial sector, that will see BankServ integrate ACE’s proven products for anti money laundering (AML) and terrorist financing, with the market leading TurboSwift solution, to deliver superior messaging functionality combined with advanced AML and OFAC capabilities.

The new strategic initiative covers a worldwide territory and will see two complementary experts in messaging and AML come together to offer the industry more effective tools to comply with the latest AML and terrorist financing legislation. AML is still a relatively new concept and there is increasing pressure on the banking, financial, and investment communities across the world to ensure that they have effective systems to detect and prevent terrorist financing activity.

However, it is widely believed that major financial institutions are still processing transactions from customers that appear on official sanction and watch lists from various authorities. In order to prevent international money laundering and the financing of terrorism, it is first necessary to have in place effective, automated systems that can scan and match customers and transactions against these watch lists.

The AML toolkit provides an automated solution to facilitate AML compliance requirements using intelligent natural language processing to quickly and accurately scan financial messages irrespective of formats. It is able to identify blacklisted entities in payment transactions and highlights them before they can be processed, thus helping institutions maintain compliance, avoid regulatory penalties, reduce processing time and minimise reputational risk.

ACE Software Solutions CEO Parth Desai comments, "The strategies to manage AML and terrorist financing requirements in financial institutions are typically aimed at preventing the activity from occurring through detection and monitoring of suspicious transactions. Powerful reporting and audit capabilities are also essential. BankServ has an impressive worldwide client base and will extend the reach of the ACE AML Toolkit into key Latin and South American markets."

"As the pressure to adhere to increasingly stringent compliance standards grows, our clients need more advanced AML capabilities. We set out to add value to our existing offerings by working with a proven expert in this field. ACE’s long history and AML domain experience were key reasons behind the partnership. We can now offer clients a more effective AML solution which is integrated seamlessly with BankServ’s TurboSwift. This combination of two best of breed products will advance the industry’s fight against AML and terrorist financing whilst providing the advanced messaging functionality for which we have become known. We are looking forward to a mutually beneficial and prosperous long term relationship," said Mary Ellen Putnam, Vice President of International Business, BankServ.