Zarion releases anti-money laundering package
28 April 2004 | 1974 views | 0
Zarion, a London-based provider of business process software to the financial and goverment sectors, has launched an anti-money laundering product designed to help UK firms comply with the Financial Services Authority's (FSA) 'Know Your Customer' (KYC) regulations.
Zarion says its AML software simplifies the task of ensuring compliance, by enabling the collation, identification, validation, management and storing of all KYC information.
The system also allows firms to establish a centralised business function with responsibility for processing all requests for identification validation submitted by a branch network, agent or intermediary network.
John McManus, banking consultant at Zarion, says the firm "has developed a solution to quickly, with minimum disruption, simplify, automate and integrate account opening processes in order that they effectively address the FSA requirements".
McManus says the software enables organisations to clearly identify how compliance targets are being met, allowing them to tune their processes and rules in response to business changes.