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Drool, Britannia? Is the UK Failing the Cloud?
By Roger Strukhoff
Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud. We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
Jan. 8, 2012 11:38 AM EST
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From the Wires
Logica Launches HotScan Self-Learning – Boosting Filtering Efficiencies

By: Business Wire
Nov. 9, 2009 04:30 AM

Logica (LSE: LOG; Euronext: LOG), a leading IT and business services company, today announced the launch of the new Self-Learning module for its payments filtering solution, HotScan. HotScan Self Learning enables banks to reduce false positive alerts in sanctions filtering by intuitively learning from users’ previous actions.

Currently, most filtering systems raise alerts for between 0.5 and 10 per cent of payments scanned. Following tests against 359,000 payments messages from a global bank, HotScan Self Learning was proven to reduce alerts raised by more than 50 per cent – without reducing the accuracy or narrowing the net.

With regulatory bodies across the globe strengthening enforcement of sanctions filtering, it’s more important than ever for banks to contain the cost of sanctions screening. The Single European Payments Area (SEPA) scheme in Europe and the National Automated Clearing House Association (NACHA) in the US now require new types of payments to be scanned – not just cross-border SWIFT messages. Regulators have also emphasised that the risk-based approach used to monitor suspicious activity is not sufficient for sanctions. By eliminating a large proportion of manual checking, Logica’s Self Learning solution substantially reduces operational costs.

“Increased pressure from regulators to improve sanctions filtering and the need to drive down costs through greater efficiencies, means banks will need to rely on filtering tools that save time,” said Neil Katkov, senior vice president at Celent. “In parallel they need to ensure that resources are being used to prevent violation of sanctions. Filtering systems that reduce false positives in screening payments will be critical for large banks seeking to optimise productivity and gain the most accurate results.”

“Banks are facing limited resources, tougher regulation and growing payments volumes. Filtering systems must therefore be able to scale-up to manage these challenges,” said John Evans, director of financial crime solutions at Logica. “With some banks employing hundreds of people to review alerts, it is crucial that their resources are used in the most productive way possible. Our Self-Learning module is the only solution available that offers the combined benefit of a massive reduction in false positives without increasing monitoring risk.”

Logica’s Self-Learning module, which is being implemented by one of the world’s largest banks, is available globally as a licensed upgrade for HotScan users or as an option for new customers.

NOTES TO EDITORS

About Logica

Logica is a leading IT and business services company, employing 40,000 people. It provides business consulting, systems integration, and IT and business process outsourcing services. Logica works closely with its customers to release their potential - enabling change that increases their efficiency, accelerates growth and manages risk. It applies its deep industry knowledge, technical excellence and global delivery expertise to help its customers build leadership positions in their markets. Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG; Euronext: LOG). More information is available at www.logica.com.

Published Nov. 9, 2009— Reads 104
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