"Full and complete compliance with all U.S. regulatory requirements is a mandate of the New York branch management, and it was critical for us to partner with a provider that's familiar with the intricacies involved," said Don Weiss, operations manager, Swedbank, New York. "The Prime Compliance Suite has been available for years, so we were already aware of its excellent reputation in the international banking community."

To assist Swedbank in its ongoing efforts to comply with U.S. regulatory compliance requirements, Metavante is providing a wide range of anti-money laundering and OFAC software and services from its Prime Compliance Suite. This comprehensive offering provides an integrated suite of Bank Secrecy Act, USA PATRIOT Act and OFAC compliance software products that enable financial services institutions to manage the entire compliance life-cycle. In addition, the suite enables effective and efficient detection of suspicious activity and automates filing of the necessary regulatory reports with the appropriate governmental agencies.

"Clients like Swedbank know the importance of choosing a provider with a solid track record of helping organizations, both U.S. and international, develop effective programs to manage their day-to-day compliance regulations," said Salvatore Cangialosi, president of Prime Associates, a business unit within the Metavante Risk and Compliance Solutions division. "Metavante is helping Swedbank retire a legacy, in-house system that currently holds its Know Your Customer data and consolidate it with suspicious activity detection and reporting information, all within the Prime Compliance Suite, providing a single system of record for compliance."