Friesland Bank licenses NetEconomy anti-money laundering technology

Friesland Bank licenses NetEconomy anti-money laundering technology

Netherlands-based Friesland Bank is implementing NetEconomy's flagship anti-money laundering platform Erase to detect fraudulent activity across the enterprise.

The system, which monitors financial transactions to spot suspicious activity, includes investigation and case management tools, automated reporting and audit trail capabilities.

The vendor says the bank will also use the system to comply with Dutch financial regulations.

William Cramer, chairman, Friesland Bank, says: "In today's rapidly changing regulatory environment it is essential to proactively address compliance in a manner that not only meets current legislative requirements, but anticipates future guidelines."

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