Bangkok Bank in New York has installed funds transfer and anti-money laundering compliance software from Gifts Software, displacing Logica's Bess system.
Gifts' Global Integrated Funds transfer & Telecommunication System will be used to automate both the payment and telecommunications processing of the bank, further streamlining and automating payment & OFAC processing.
Eadie Condron, VP and branch manager at the bank's New York office comments: "We project that the installation of the Gifts system will save the bank more than a million dollars over the next five years."
The Bank will also implement the GiftsWeb Transaction Inquiry Module - an e-banking platform designed to replace older cash management systems - and the GiftsWeb EDD Anti-Money Laundering solution.