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Article: In Breif: UBS Unit Chooses Searchspace Software.(UBS PaineWebber Inc. )(Brief Article)
- Article from:
- American Banker
- Article date:
- September 9, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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UBS PaineWebber Inc. has bought an anti-money-laundering system from Searchspace, a provider of enterprise decision automation software
The system lets companies monitor customer data in real time, according to a Searchspace press statement last week. It will help PaineWebber meet the security requirements established for the securities industry under the USA Patriot Act.
"Companies such as UBS PaineWebber have specific requirements and need an (anti-money laundering) solution that can comprehend and address the unique risks in the securities industry," said Searchspace's chief executive officer, Konrad Feldman.
"Aggressive compliance deadlines ...