STUTTGART and MUNICH, Germany, October 1 /PRNewswire/ -- Cellent Finance Solutions AG has presented the latest release of the SMARAGD product family at the ninth SMARAGD User Group Conference. Release 4.0 of the software for combating financial crime fulfills all provisions of the 3rd EU Money Laundering Directive and the German Supplementary Money Laundering Act (GwBekErgG).

The anti-money laundering module, S/Research, has been completely redesigned to incorporate a scenario-based approach, allowing the pinpointing of new money-laundering and fraud scenarios and sustainably lowering the false-positive rate. Consequently, in future considerably fewer non-critical transactions will be classified as suspicious, while the accuracy in identifying fraud patterns remains high.

The system architecture has also been overhauled to incorporate cutting edge principles of software development. The new release is based on a service-oriented architecture (SOA) and can be flexibly integrated in existing system and application landscapes. The paradigm shift in the software architecture opens up new opportunities for uncovering and preventing fraud, money laundering and terrorist financing. Streamlined performance algorithms significantly reduce hardware costs. The high scalability allows full exploitation of existing system resources.

The SMARAGD product family reliably covers all GwBekErgG stipulations. The new legal framework imposes stricter due diligence requirements on financial service providers in line with the know-your-customer (KYC) principle. This particularly applies to politically exposed persons (PEP). The new risk-based approach now cuts control overheads for lower risk customer involvement using risk profiles. This approach has been incorporated throughout the current version of the SMARAGD product family. Deploying SMARAGD 4.0 enables finance institutes to effectively meet their stricter due diligence obligations.

Around 750 finance institutes in over 45 countries utilise SMARAGD software. Especially global enterprises with widely divergent structures benefit from the software's high flexibility and scalability. The new release will be available from November.

Contact: Phone: +49-711-222992-930

Contact:, Phone: +49-711-222992-930