About Us

 Intellicore Systems, Inc. (INTELLICORE) is a spin-off company of Prince Technologies Corporation (PRINCETECH).  Since 2002, Princetech has been focused in the Customized Software Development, Education (School Management System) and Enterprise Resource Planning (ERP) space.  It currently has the biggest market share in the School Management System industry with a customer base of more than thirty (30) State Universities and Colleges (SUCs), and private universities spanning across Luzon and Mindanao.  Its flagship product, Princetech School Management System (PRISMS) meets the strictest requirements of the Philippine academic institutions.  The product is extensive in its scope with the incorporation of the best industry practices over the years and a comprehensive list of more than 500 reports.  For more information about PRINCETECH, please visit www.princetech.com.ph.

With its extensive experience in Customized Software Development and managing projects spanning the Education and ERP spaces, PRINCETECH started to search for more opportunities in other industries.  From its network of consultants and contacts in the Banking and Finance industry, it was challenged by the fact that no Filipino software company has been in ownership of the intellectual property rights of an all-important regulatory requirement of the Bangko Sentral ng Pilipinas (BSP) and the Anti Money Laundering Council (AMLC) - the Anti Money Laundering application.  For many years, Anti Money Laundering applications have been sourced and developed in either the United States, India, Malaysia, or Singapore, and are remarketed here in the Philippines by local Resellers.  These foreign-sourced Anti Money Laundering applications however are mostly simplified and barely-compliant of the requirements of the country's regulatory bodies due to the difficulties and challenges encountered in delivering comprehensively and swiftly any customization or enhancement requirements needed on the AML system.  For this reason INTELLICORE was conceptualized and incorporated in 2014 to address the ongoing needs and challenges in the Anti Money Laundering solution for the Banking and Finance industry.  INTELLICORE is the first 100% Filipino-owned company that has sole ownership and intellectual property rights on the fully web-based iCore 360 AML solution.

INTELLICORE is focused exclusively in the Anti Money Laundering space in the next 2 to 3 years but has future plans of developing and marketing other Banking applications.

 

INTELLICORE is managed by a Team of Technology and Banking professionals with extensive experience in the Consulting industry spanning a total of 60+ years of combined experience.

INTELLICORE is committed on utilizing Open Source platforms to lower  the Total Cost of Ownership of its Bank customers.  Customers are provided with the option to either utilize software tools and platforms that they currently own,  or are experienced in, or utilize Open Source platforms and tools that are as powerful and are at free of cost.

The company is focused and committed on developing 100% web-based applications that are feature-rich, user-friendly and user-customizable.

INTELLICORE's main competitive advantage is being a Filipino-owned company with sole ownership and exclusivity on the intellectual property rights of the best-of-breed Anti Money Laundering system giving its Customers many benefits like:

  • Easily-modifiable application that makes it fully-compliant with regulatory requirements
  • Fast and reliable local technical support services that are easily made available to customers and clients
  • Delivery of Customization Orders that is fast and at reasonable rates due to the availability of source codes and local Consulting resources

prod offerings

  

icore 360

iCore 360 Anti Money Laundering (AML) system is rich in functionalities and features covering all possible business scenarios and alerts in its Client Risk Management and Transaction Risk Management modules.  Some of these alerts include:

Client Risk Management/KYC Alerts:

  1. Peer Grouping based on industry, nature of business activity, geography, social and financial status, transaction types, expected volume, etc.
  2. Customer Verification by matching unique identifiers or markers with internal and external watchlists such as OFAC/SDN, FATF countries blacklist, UN/Al-Qaida sanctions list, PEP and other watchlist sources.
  3. System is able to check for mandatory information required from the customer and allows Compliance Officers to add additional information not initially captured by the production system.
  4. Risk rating of customer.  System is able to give the Bank the flexibility to select risk parameters for risk rating computation in accordance with the Bank’s established practices.

Transaction Risk Management Alerts:

  1. Define Scenarios: Account Type (CA, Deposits), Transaction Type (Wire, Cheques, LC), Customer Profile, Business (Casinos, Exchangers, Dealers), Location
  2. Threshold Scenarios: Regulatory Limits, Internal Thresholds
  3. Watchlist scenarios
    • Country Watchlist
    • Patterns: Dormant Activity, Rapid Fund Movements, Recurring Transactions, Cash Structuring, Smurfing, Other patterns
  4. False positive
  5. Dynamic Rule engine for defining rules

The Value Proposition of the iCore 360 AML

  1. The iCore 360 was developed utilizing Open Source platforms committed to utilizing these same platforms and software tools to lower the Total Cost of Ownership of its Bank customers.
  2.  The delivery of Customized Reports, Features Enhancements, and Product Modifications/Customizations are delivered much faster and at more reasonable rates due to the availability of the product source codes and local Consulting and Implementation resources.  INTELLICORE is a 100% Filipino-owned company and the sole owner of the iCore 360 intellectual property and product source codes. It has instant access to these source codes for any specific customer requirements for customization, modifications, customized internal and external reports, ad hoc reports creation, and other source code-related requirements. INTELLICORE’s Consulting and Implementation teams are also based locally and can be assigned at the customer’s site for the duration of the entire project if and when needed.
  3. The iCore 360 is based on a Perpetual Licensing Agreement.  This means that the Bank purchases the software once and owns it in perpetuity, as compared to other AML applications for which the Bank would need to pay subscription or rental fees on a monthly, quarterly, or annual basis, and whose services would get terminated once it misses out on paying the subscription fees.
  4. The iCore 360 licensing has an option for Unlimited and Enterprise-wide licensing.  This option is made available to select clients and customers of INTELLICORE.  Once the parent or holding company purchases the product, ALL of the affiliate companies of that parent or holding company will only pay the iCore 360 Licenses at a special discount of thirty percent (30%) of the prevailing published list price, and consulting and implementation services.
  5. INTELLICORE offers a special discount of fifty percent (50%) of its prevailing published rates on the customization and modification of regulatory reports if these are required by the country's regulatory bodies, the Bangko Sentral ng Pilipinas (BSP) or by the Anti-Money Laundering Council (AMLC).  BSP or AMLC usually comes out with new report formats,  inclusion of additional fields, enhancement of risk reporting scenarios, or other scenarios at least twice a year or more.   In order to comply with these requirements, Customers of other AML vendors usually spend an additional US$ 20,000.00 to US$ 40,000.00 or more annually.
  6. Annual Software Maintenance Agreement is fixed at a percentage (%) on the iCore 360 License component only. Other AML vendors charge a percentage (%) of the MA based on the Total Contract Price (Licenses + Implementation components) as compared to Intellicore charging it based on the iCore 360 License component only without the implementation cost.

Screenshots

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echecks 360

Some of the main features of the eChecks 360 CTS include:

  • Interface with your CA/SA system for validation whether the Account is non-existent, closed, DAIF, DAUD, Posted/Stale dated, Force Majeure. Has facility to determine previously negotiated or cancelled checks.
  • Has facility to accept post-dated checks and store these in a suspended state until the check becomes dated and due. Check is then posted and credited to designated account.
  • Technical Verification for OCR/ICR/MICR
    • If amount in words and in figure differs
    • Image Quality Assurance Failure
    • UV Image processing
  • Interface with Digital Signatures
    • Missing or no drawer’s signature
    • Forged or unauthorized signature
    • Signature differs from that of account holder’s specimen signature
  • Identify stolen checks

Some of the benefits of implementing the eChecks 360 CICS include:

  • Achieve complete regulatory compliance quickly and cost effectively
  • Significantly lower the Bank’s Courier and Manpower-related services, as well as Operations-related Expenses in relation to the physical transport of the checks from its branches to the Clearing House.
  • Provide a safer and more secure facility to transmit checks to the Clearing House.
  • Detect fraud easily and speed up the process of check clearing significantly
  • No fear of loss of checks in transit or chances of checks being lost due to mishandling
  • Improve operational efficiency resulting to better customer service.

 

 

Clients

 

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Partners

Channels & Resellers

Product Partners

Pressroom

Contact Us

Phone | Fax

Trunkline +632 556 5730

Sales & Marketing +632 9646797

Mobile +63 917 899-0869 (John)

Mobile +63 917 859-6188 (Carlos)

Address

Unit 2702, 88 Corporate Center

141 Sedeno St., Salcedo Village

Makati City 1226, Philippines


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