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Stefanini targets banking segment in North America

By Guest Author | July 14, 2016

With nearly thirty years of global experience and a comprehensive set of solutions tailored to the banking industry, Stefanini — $1B global IT provider of IT outsourcing, applications management, consulting, and strategic staffing services — has announced a package of banking solutions tailored to the needs of small-sized banks to reinforce its presence in the North American market. Catered to the North American market, the portfolio of solutions includes Stefanini’s own core banking platform, end-to-end support for mobile banking, and an anti-money laundering solution (AML).


Banking & Financial services are responsible for 33% of Stefanini’s global revenue and the company continues to invest a lot in this market moving forward. After acquiring Uruguayan-based software company, Top Systems, in 2012, the global Brazilian IT company is now focusing on offering services that are specifically tailored for Tier II and Tier III banks. One of the highlights of this solution is Topaz Trace, a first-class tool custom-designed to prevent and detect money laundering.

“Topaz Trace offers more flexibility and faster implementation, resulting in a good option for small banks in terms of competitive prices, fast implementation, simple integration, and is also compliant in all regulatory agencies,”  explained Rakesh Chitradurga, Vice President of Applications for Stefanini. The anti-money laundering solution caters to small, Tier 2 and 3 level banks.

The solution allows compliance officers to reach more reliable conclusions about each potential case. However, the software does more than simply generate alerts. “If alerts are generated and cannot be processed, the problem persists. The objective of our AML system is not only to generate alerts, but to provide the elements to solve them as well,” said Mr. Chitradurga.

“One of the competitive advantages of Stefanini’s AML solution for the North American market is that it can be implemented in eight weeks compared to almost 1-1.5 years by the larger commercial providers in the US,” the executive explained. In addition to agile implementations, Topaz is U.S. compliant and offered at a fraction of the cost of the US commercial providers. Topaz/Trace is also compliant in all regulatory agencies and is a competitive offer for the North American clients that Stefanini is targeting.

Expertise of almost three decades

The Topaz Trace software works as a strategic partner for clients to increase their competitive edge. Amongst its many features, the solution can monitor a business by providing external and internal audits, improve the management of the compliance area by automated controls and alerts, and send alerts to the appropriate personnel in charge – under the supervision of the compliance area.

Top Systems is dedicated to providing design, development, implementation, and support services that are tailored to the financial sector. A prominent leader in banking and finance, Top Systems is backed by nearly 30 years of experience with a track record of more than 60 successful Topaz implementations across 29 countries. The company services nine of the ten largest banks in Latin America and attends to over ninety percent of the private banks in Brazil.

In response to increasing demand for nearshore services, Stefanini leverages the global scale of its nearshore model including 39 countries, delivery centers in multiple continents and time zones, and an ability to handle cross-border transactions. As a result, Stefanini’s solution poses an attractive array of advantages attributed to its competitive prices and high availability of land and resources.

Further information is available at the company’s website.

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