AML Softwares

This category will list down the news and details regarding some AML software solutions which are in the market

September 6, 2017 Today’s financial institutions are grappling with high volumes of customer, transactional and other internal data sets. If intelligently analyzed, these vast stores of data can prove invaluable to institutions by helping them uncover financial crimes risk. However, leveraging new advancements in data science, including artificial intelligence (AI), machine...
August 24 2017 Mizuho Bank has selected IBM’s recently announced regtech offering IBM Financial Crimes with Watson *2 that efficiently manages all financial crimes investigation efforts through streamlined research and advanced investigation techniques. The Watson-powered software, which runs on the IBM Cloud, analyzes a wide range of data sources, including...
August 7 2017 Commonwealth Bank of Australia has blamed a software “coding error” for most of the 50,000 breaches of money laundering and counterterrorism laws alleged by Australia’s financial crime-fighting agency.  The country’s biggest lender said on Monday it was reviewing a legal action initiated last week by the Australian...
August 2 2017 Riding on a financial turnaround and renewed strategic focus, 3i Infotech Limited has launched AMLOCKLite – FS for Non-Banking Financial Companies (NBFCs). AMLOCKLite – FS is a comprehensive compliance solution for anti-money laundering (AML) & counter – terrorist financing (CFT). A derivative of AMLOCK, one of 3i Infotech’s...
July 25 2017 I was talking to a banking compliance executive recently about how banks are looking to use artificial intelligence to spot clues to crimes being committed by customers or employees.  This executive was clearly not buying into the hype. “We’ve thought about that, but we don’t plan to use...
July 26, 2017 NICE Actimize, a NICE (Nasdaq:NICE) business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced today that for a record-breaking fourth year in a row it was voted the Best Anti-Money Laundering Compliance Solution...