Miamia-based Americas Software has signed contracts to implement its Assist//ck anti-money laundering package at Austria's Raiffeisen Banking Group (RZB), Westdeutsche Landesbank Girozentrale (WestLB), and Banco del Caribe, Venezuela's seventh-largest bank.
The software is designed to help banks meet regulatory compliance and automate the detection, investigation and reporting of suspicious account activity, including money laundering. The additions of RZB, West LB and Banco del Caribe to Americas Software's customer base increase the number of financial institutions using the company's Assist//ck software to 75. RZB also becomes the company's first client in Austria.
"The events of the past few months have heightened the financial services industry's concerns with money-laundering activities and have highlighted the need for products to automate the analysis of the movement of funds," says John Daly, president of Americas Software. "By deploying products like ours that track both account profiles and transaction trends, bank compliance officers can reduce their risks to potentially illegal acts."