ING Direct signs for Experian anti-money laundering system

ING Direct, the telephone and Internet bank operation of Holland's ING, has signed a five year deal for Experian's online anti-money laundering service which it will use to screen new customers.

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ING Direct signs for Experian anti-money laundering system

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The bank will implement Experian's real-time Verifier for Money Laundering service, which accesses a range of data sources and fraud matching software, to authenticate the identity of applicants.

Quinten Fraai, sales and operations director, ING Direct, says: "As our account opening process takes place in a non face-to-face environment, the Experian solution provides online, real-time anti-money laundering checks, enabling us to make decisions in a secure, effective and accurate manner."

Experian says electronic verification provides a faster, more cost effective and less intrusive method of verifying and authenticating identities.

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