Mumbai - July 21, 2008 - 3i Infotech, a
global provider of IT solutions and the fourth largest Indian Software
Products company, today announced that Bank of India, one of India's Premier
Leading Public Sector Banks, with a large Overseas Branch Network, has
signed an agreement to implement AMLOCK™, 3i Infotech’s award winning Anti
Money Laundering (AML) software. As part of this agreement, 3i Infotech will
undertake complete system integration, from procurement and installation of
hardware including Storage, Database, Middleware, and Report Writer.
Today, all Financial Institutions globally are required to
examine Money Laundering Operations and report to the Financial Intelligence
Unit of their respective countries for prevention of Money Laundering. As
the Indian Financial Sector heads towards fast-paced integration with the
global financial systems, it becomes critical for it to gear up its systems
and processes to meet with internationally prescribed Anti Money Laundering
norms. Bank of India too is among these forward looking banks in India which
have decided to implement the AMLOCK™ Anti Money Laundering Solution from 3i
Infotech.
|
Mr. P.A. Kalyanasundar, General Manager (Information
Technology), Bank of India (left) and Mr. Anirudh Prabhakaran, Executive
Director & President (South Asia),
3i Infotech, at the signing
ceremony |
Commenting
on the occasion, Mr. P.A. Kalyanasundar, General Manager (Information
Technology), Bank of India, said, “We are happy to partner with 3i Infotech
to implement Anti Money Laundering software solution in our Bank. Bank of
India has always been proactive in complying with the statutory
requirements. Once the solution is implemented, the Bank will be able to
submit the required reports to the Financial Intelligence Unit – India,
under PML Act, 2002”.
Mr. Anirudh Prabhakaran, Executive
Director & President (South Asia), 3i Infotech, said, “This agreement to
implement AML solution for a reputed bank like Bank of India is yet another
testament of our wide acceptance in the Financial Services Sector. Going
forward, 3i Infotech will continue to deliver its world-class products and
solutions to the financial services organizations, and enable them to
operate in a highly dynamic and technologically advanced global market
space”.
AMLOCK has the capability of receiving data from
multiple sources systems that organizations like financial institutions may
be using for different operations. It is highly parameterizable to suit the
unique needs of each organization.
About 3i
Infotech
3i Infotech is one of the top 4 Indian
Software Products Companies. The company provides software products and IT
services (Managed IT Services, Application Software Development &
Maintenance, Payment Services, Business Intelligence, IT Consulting,
Transaction Services, Document Imaging & Digitization and Data
Warehousing) for the Insurance, Banking, Capital Markets, Mutual Funds,
Manufacturing, Retail & Distribution, Wealth Management and Government
verticals. The company services customers in over 50 countries across 5
continents.
3i Infotech is SEI CMMI Level 5 compliant for
its Software services and ISO 9001:2000 certified for its IT Infrastructure
and Transaction services.
* Dataquest -
July 2007 issue
For more
information, please contact:
M.B. Battliwala
Senior
General Manager
3i Infotech Limited
Akruti Centre Point, 6th
Floor,
M.I.D.C Central Road,
Next to Marol Telephone Exchange,
Andheri (East), Mumbai - 400 093
INDIA.
Tel: +
91.22.39145560
Fax: +91.22.39145520
Email: corporate@3i-infotech.com
Disclaimer
Except for the historical
information contained herein, statements in this release, which contain
words or phrases such as "will", "would", "expect", "believe", and similar
expressions or variations of such expressions may constitute
"forward-looking statements". These forward-looking statements involve a
number of risks, uncertainties and other factors that could cause actual
results to differ materially from those suggested by the forward-looking
statements. These risks and uncertainties include, but are not limited to,
the performance of the Indian economy and of the economies of our principal
international markets, the performance of the industry sectors in which our
clients are based, the performance of the information technology industry
sector world-wide, competition, our ability to CGC in statutory and
regulatory approvals and to successfully implement our strategy, future
levels of our growth and expansion in business, technological
implementation, changes, advancements, and redundancies, the actual demand
for software products and services, or the future potential or feasibility
thereof, changes in revenue, income or cash flows, our market preferences
and our exposure to market risks, as well as other risks. 3i Infotech
undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date thereof.