VCS signs with leading offshore Chinese Bank

Brussels, Belgium – Viveo Cognitive Systems, today announced that they have signed a contract with a leading offshore Chinese bank, CITIC Ka Wah Bank Ltd.  CITIC Ka Wah Bank will be using Viveo Cognitive System’s innovative VRisk suite to enhance its AML compliance systems.

After a rigorous vendor selection procedure, CITIC Ka Wah Bank was satisfied that Viveo Cognitive Systems’ VRisk suite offers the most effective AML compliance solution to meet their needs. ‘We place great emphasis on having a world class compliance operation, and we look forward to achieving this with Viveo’ stated Roy Huang, Executive Vice President, General Counsel and Head of Compliance of CITIC Ka Wah Bank.
By joining Viveo Cognitive Systems they are also joining an extensive network of collaborative user groups made up of more than 700 institutions of which 15 are in the top 20 financial institutions in the world.

"As the Bank rapidly grows its franchise in China and the region, the challenges of AML compliance also increase and we therefore are pleased to be working with Viveo in delivering a solution that should help us meet those challenges," added Roy Huang.

Viveo Cognitive Systems will be working in collaboration with Automated Systems (HK) Limited, their key integration partners, and Tigerland Asia Pacific, their regional representatives. According to Amanda Gilmour, Business Manager of Viveo Cognitive Systems, “these partnerships are proving to be the driving force behind Viveo’s rapid growth in the Asia-Pacific region.”

“We are extremely pleased that our newly developed VRisk suite is generating so much customer interest.” said Stavros Cademenos, VP of Business Development at Viveo Cognitive Systems.

As Viveo Cognitive Systems VRisk suite is a rapidly deployable solution, CITIC Ka Wah will be fully compliant within two months.

Here's the link: CITIC Ka Wah Bank signs for Viveo VRisk suite

About Viveo Cognitive Systems: VCS is best known for its straight-through-processing enrichment and repair products – an area where it has establish a solid reputation as a niche provider.  Over the past 25 years VCS has extended its product range selectively, maintaining focus on core products whilst adding anti money laundering and risk management functionality to meet customer demand.  Most recently VCS has released VDirectory into the international market; this financial data directory management solution already forms the backbone of the back-office solutions for a number of financial institutions.

VCS continues to command respect from the financial industry by maintaining its vision of building on the excellence and integrity of its core products.

About CITIC Ka Wah Bank Ltd.: "CITIC Ka Wah Bank Limited (the "Bank") is a wholly-owned subsidiary of CITIC International Financial Holdings Limited, which in turn is 55%-owned by CITIC Group as at 30 June 2008.  By providing value-creating financial solutions to define and exceed both the wealth management and international business objectives of our Greater China and overseas customers, the Bank aspires to be the "China Bank of Choice", with the best international standards and capabilities.  The Bank’s footprint in Greater China includes 27 branches in Hong Kong, a branch in Macau, a branch in Shanghai and its PRC-incorporated wholly-owned subsidiary, CITIC Ka Wah Bank (China) Limited, which is headquartered in Shenzhen with branches in Shanghai and Beijing.  The Bank also has overseas branches in New York and Los Angeles.  The Bank is rated "Baa" by Moody’s Investors Service and "BBB+" with positive outlook by FITCH.  In recognition of its outstanding achievement in Quality Management, the Bank received the Silver Award in the 2007 Hong Kong Management Association Quality Award.  More information about the Bank can be found on its website at www.citickawahbank.com."

About Automated Systems (HK) Limited: Automated Systems (HK) Ltd., a leading IT services provider in the region, has over 35 years of experiences in providing different IT services, including security and network services, to various local and multinational banks and financial institutions. Since 2002, we have been selected as a SWIFT Service Partner to provide quality service to customers. With sound industry knowledge and experience in banking and finance, our SWIFT service not only can help you maintain a smooth business operation but also ensure the system always available for your business needs. Apart from the standard software implementation service and ongoing support service for SWIFT system, we also provide systems integration of SWIFT Solutions, banking and financial solutions. With ASL Group’s subsidiaries in Macau, Taiwan and Mainland China, we can provide regional support services to facilitate customers’ regional business development.

About Tigerland Asia Pacific: Tigerland Asia Pacific represents Viveo in Asia. Based in Kuala Lumpur, Malaysia, the company has extensive expertise and knowledge of the Asian and Pacific markets. Its staff has vast experience with banking software, specifically in SWIFT messaging, Clearing and Settlement and Combating Financial Fraud. The experience has been gained consulting for various international and globally operating IT companies in areas of systems integration and project management.