Fundtech has launched AML Manager to provide financial institutions with an enterprise-wide system delivering automated compliance with international banking regulations related to anti-money laundering. AML Manager integrates three components: OFAC Module, Suspicious Activity Module and Know-Your-Customer Module. Together these components enable financial institutions to detect, analyse and report suspicious activities transacted by their customers, and can automatically file the necessary reports with the various regulatory agencies, according to the organisation. Currently many financial institutions have multiple compliance systems that are incompatible and inefficient, said Fundtech. AML Manager is designed to be a single compliance platform for the entire enterprise, providing consistent enforcement and operating efficiencies.
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