The Sword of Damocles hangs on financial institutions due to Money Laundering – Banks,Insurance Companies; Investment Houses are the first targets.
One of the greatest challenges that banks face in managing money-laundering activities is handling huge volume of fragmented data from multiple source systems. This, coupled with multiple products, channels, instruments and parties makes detection of these incidents sub-optimal without automated systems. Banks also have the additional challenge of fragmented data from multiple source systems. A comprehensive solution must include the ability to scour vast amounts of data, provide an integrated view across data streams and must possess the tools to analyze, investigate, and enrich data, thereby transforming it into meaningful, valuable, and actionable intelligence on preventing and detecting potential money laundering activities.
3i Infotech’s Financial Crime Detection and Management Solution ( AMLOCK-FCDMS) is an integrated Anti Money Laundering and Financial Crime detection and management solution to suit the requirements of Banks and Financial institutions. The solution is compliant with KYC, Transaction Monitoring and Regulatory Reporting and assists the bank in detecting and managing money laundering transactions.