Page 12 - Pay Magazine s2014

paybefore awards europe
Best pROBlem sOlveR
Best use of a prepaid or emerging payments program to solve a problem for a business.
SightSpan Compliance for Prepaid Cards
SightSpan
what it is: SightSpan works directly with regula- tors and financial institutions to ensure more consumers and businesses across Europe have access to prepaid products, while maintaining a robust defense against terrorist financing, fraud and money laundering.
where you get it: SightSpan’s prepaid card compliance solutions for KYC and CIP primarily are being marketed to European and South American card issuers, but also to large U.S. issuers looking to expand into more markets.
why it works: SightSpan worked with prepaid companies and banks in approximately 20 countries in Europe, defining and implementing AML and counter-terrorist-financing policies. SightSpan regularly engages with regulators and governments to help shape policy and ensure
its clients are in compliance with regulations. Outside the EU, SightSpan has helped shape the regulatory landscape as well, auditing policies and writing rules for Indonesia, Bahrain, Saudi Arabia, Jordan and Qatar.
why it matters: SightSpan offers a set of proven services, methodologies and products to help financial institutions maintain compli- ance across the geographies in which they do business.
differentiators: Banks and issuers want compli- ance programs from a trusted partner that has experience within their business and with their regulators. SightSpan offers both.
what the judges said: Compliance and vigilance against increasingly sophisticated threats have never been more important for the prepaid and emerging payments industry. SightSpan’s track record, expertise and willingness to engage directly with regulators are benefits to the whole industry.
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