Svenska Handelsbanken signs for TietoEnator AML screening technology

Svenska Handelsbanken signs for TietoEnator AML screening technology

Swedish banking group Svenska Handelsbanken is implementing TietoEnator's ProScan technology to monitor payments transactions and customer records for money laundering activity.

The product will initally be used to screen online transactions, including Swift payments at its Swedish operations, although the bank says the technology can be extended to its foreign branches.

The first phase of implementation begins in June and will provide the bank with functions for watch list updates and real-time scanning of Swift payments. The second phase in September will deliver functions for scanning of customer records and conducting online Web queries.

Lars Herslöf, product manager, cross border payments, Handelsbanken, says the ProScan system "will allow the bank to organise and handle suspicious cases efficiently and securely".

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