Fortent, a provider of risk and compliance technology and information, today announced that Mitsubishi UFJ Trust and Banking Corporation (President: Kinya Okauchi), a major wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (President & CEO: Nobuo Kuroyanagi), has selected the Fortent Monitor anti-money laundering software for the firm's Japanese domestic operations.
Mitsubishi UFJ Trust and Banking Corporation has over US$1,000 billion of trust assets under management as of FYE March 2009.
Based in the United States, Fortent offers risk and compliance technology and information solutions to banks, insurance companies, brokerage firms, government agencies, businesses, and compliance professionals in more than 100 countries. Its advanced monitoring and detection systems deliver the lowest false-positive rates in the industry, reducing clients' compliance operating costs while helping them meet increasingly strict regulatory requirements worldwide.
"With its selection of Fortent from among a various solution vendors, Mitsubishi UFJ Trust and Banking Corporation decided that Fortent met the requirement for an anti-money laundering software solution that was not only best in class, but also had a proven track record both in the Japanese and overseas markets and demonstrated its commitment to the Japanese market. We are delighted with the decision by Mitsubishi UFJ Trust and Banking Corporation for selecting us as it will strengthen our position as the leading provider of financial crimes and compliance solutions in Japan," said Robert Binney, Vice Chairman, Fortent.