Koger Inc. enhances compliance technology

Mar 9 2018 | 2:41pm ET

Financial services technology company Koger Inc. announced that it has enhanced its compliance technology to provide a comprehensive tool for financial crime prevention.

The company’s KURE software handles all aspects of “anti-money laundering” and “know your client” due diligence, as well as complete Customer Lifecycle Management, according to the company.

The software is built on three interrelated states of compliance—onboarding, due diligence and off-boarding — and handles the process in its entirety, covering the entire customer or investor lifecycle.

The system provides automated, real-time, ongoing monitoring with a comprehensive implementation process that allows for tailoring to the financial organization’s specific needs. Regulations supported on the platform include the U.S. Patriot Act, the EU Anti-Money Laundering Directive 4, Foreign Account Tax and Compliance Act, Common Reporting Standards, as well as others.

“We developed the software to essentially be a single source of truth that removes the guesswork from preventing financial crime… We’ve found that it can reduce the compliance time to realize customer revenue by 35%, and audit costs by some 30%,” Koger Chief Operating Officer Ras Sipko said in a statement.

The technology includes a suspicious activity monitoring system that can run around the clock and monitors any trade that may be considered suspicious or a threat. For example, an organization can be alerted to all trades above or below a certain threshold, or be flagged on a trade that breaches the software’s dynamic risk calculation.

The software’s AML/KYC module offers extensive audit tracking with full investor sanctions screening. 

Founded in 1994, Koger provides software for investor services, compliance and business process management, serving global financial institutions, banks and asset managers including hedge funds, private equity funds and mutual funds. The company’s technology supports more than 8,000 funds with $2 trillion in assets. With offices in the United States, UK, Europe, Asia and Australia, Koger works with global financial institutions and asset managers, including hedge funds, private equity funds, mutual funds and money market funds.


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