EastNets, a leading global provider of compliance and payments solutions for the financial services industry, is offering new features for its Anti-Money Laundering (AML) solution as a service in SaaS mode, to financial institutions (FIs).
The offering is a continuum to its installed base of customers through its direct Service Bureaus and its partners' service bureaus, allowing them a better and more efficient utilization of their resources.
With over 115 customers already using EastNets AML solution as a service SaaS model directly and through EastNets partner Service Bureaus, EastNets expects this offering to continue to appeal to a large client base of FIs of all sizes and on a global scale.
Today EastNets' AML solution SafeWatch, is installed on premises by over 500 financial institutions and corporates worldwide -- enabling them to meet regulatory requirements and fight money-laundering activities through its SWIFT-certified products. AML modules utilize en.SafeWatch Filtering and en.SafeWatch Profiling that allows its customers to stop suspicious transactions taking place in real-time.
Hazem Mulhim, CEO, EastNets, said: "We are excited to offer AML as a service SaaS mode to our clients, including banks and financial institutions, through our direct and our partner Service Bureaus globally. By continuing to outsource this service to us, clients will be able to deploy their internal resources for other tasks, cut down their cost, and focus on their core competencies. We currently have a portfolio of over 115 banks that use our SaaS and look forward to offering our AML Solution as a service to more clients."