24 February 2018
Visit www.capgemini.com/worldreports

Marshall & Ilsley Bank rolls out Searchspace anti-money laundering software

26 October 2004  |  2891 views  |  0 cash - dollars

US-based Marshall & Ilsley Bank (M&I Bank) is deploying technology from Searchspace to detect suspicious transactions and money laundering activity across its retail lines of business.

The bank will roll out Searchspace's anti-money laundering software - which provides systematic account monitoring of bank transactions - in order to automate the detection of suspicious activity.

The vendor says its software enables firms to automatically interpret and act upon vast amounts of data, and enables the capture of both known and unknown patterns of suspicious behaviour.

Every transaction is monitored for unusual activity. The system immediately notifies compliance staff of transactions that require further investigation and provides them with an evidential audit.

Searchspace, which was founded in 1993 as a spin-out from University College London, says its software is used to monitor over 400 million accounts in regional, national and global banks.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Searchspace raises $5.5m from Scottish Equity Partners

Searchspace raises $5.5m from Scottish Equity Partners

01 September 2004  |  3978 views  |  0 comments
Searchspace raises $15m

Searchspace raises $15m

05 February 2004  |  4068 views  |  0 comments
IBM and Searchspace clean up at Lloyds TSB

IBM and Searchspace clean up at Lloyds TSB

19 August 2002  |  6246 views  |  0 comments
Wells Fargo selects Searchspace anti-money laundering software

Wells Fargo selects Searchspace anti-money laundering software

17 June 2002  |  8802 views  |  0 comments
UBS deploys Searchspace anti-money laundering software

UBS deploys Searchspace anti-money laundering software

25 March 2002  |  5642 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit http://info.nice.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11670 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10288 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8449 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7984 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7697 views comments | 10 tweets | 14 linkedin

Featured job

Find your next job