The UK's Nationwide Building Society is extending its anti-money laundering programme with the implementation of NetEconomy's Enterprise AIM case management system.
Nationwide currently uses NetEconomy's transaction monitoring system Erase, to detect suspicious and fraudulent activity across its banking and savings accounts.
The Enterprise AIM application enables users to create cases for investigating suspicious activity, track cases and generate reports. The system allows users to store and manage all information related to a case, track work in progress, search transactions and accounts and access a full audit trail.
An automatic auditing function allows retrospective examinations of the investigations. The product also automatically generates both external agency reports, and includes a management reporting function that can be used to measure the effectiveness of the investigation process.
The product also features configurable workflows to enable different business processes to be automated in a consistent way, ensuring all steps of the investigation are followed across all job functions.
Russell Johnston, head of legal compliance (consumer affairs) and deputy group money laundering reporting officer, Nationwide, says Enterprise AIM "provides the ability to investigate suspicious cases in an efficient, cost-effective, practical and professional manner".