Rabobank is implementing the Pinpoint anti-money laundering system from risk management vendor Data4s across its Dutch operations.
The bank will use the Pinpoint system to monitor nine million private and business client accounts across 321 local member banks.
The system integrates transactional data with customer information to create a complete profile of customer activity. These profiles are then continuously monitored for suspicious behaviour.
Harrie de Poot, head of non-cash payments products at Rabobank says the bank places a lot of emphasis on active compliance with anti-money laundering regulations.
"We selected Data4s as our technology partner for payment screening because they have shown an interesting, future-oriented and compatible concept," he adds.