Citizens Financial Group installs NetEconomy AML software

Citizens Financial Group installs NetEconomy AML software

US-based Citizens Financial Group is deploying NetEconomy's Erase risk management software to monitor, detect and manage suspicious transactions and money laundering activity.

The Erase system, which automates compliance procedures, will be installed in phases at Citizens' AML investigations unit.

Glenna Hicks, senior vice president and director of Citizens' financial intelligence unit, says: "We evaluated a number of solutions and believe that NetEconomy best meets our business needs and provides a robust platform which will scale to support future growth."

NetEconomy says its software will help Citizens comply with BSA and USA Patriot Act regulations.

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