18 August 2017
Find out more

Turkey's TC Ziraat Bankasi deploys iFinancial AML tech in London

23 February 2011  |  2307 views  |  0 Source: International Financial Systems

International Financial Systems (iFinancial) have successfully installed all six modules of AMLtrac, their Anti-Money Laundering system, at the Turkish bank TC Ziraat Bankasi AS, London branch.

The bank has already gone live on the SWIFT Message Screening module, with the other modules expected to follow shortly.

The Bank selected AMLtrac to automate its compliance and meet its Anti-Money Laundering (AML) obligations. They were aware that in order to meet FSA requirements to a high standard would mean ever increasing demands in terms of time and resources. Automation was the only realistic solution. iFinancial were an obvious choice of supplier for this important piece of software as TC Ziraat Bankasi AS already use iFinancial's flagship back office system, BankWare.

The Bank estimates that AMLtrac will save the bank a considerable number of man-hours per week over trying to do the job manually with the expectation that the results will be of a higher quality and consistent across the board. TC Ziraat Bankasi AS also has the reassurance that a proven, automated system such as AMLtrac demonstrates clearly to the FSA that their compliance and AML responsibilities are given prominence.

Terry Day, CEO of iFinancial said, "The installation of AMLtrac at TC Ziraat Bankasi AS was quick and straightforward. We are delighted to include the Bank as one of a growing number of clients who realise the necessity of automated compliance and AML systems. We look forward to the Bank contributing their ideas and experiences at our user group forums and then seeing those ideas materialise into reality in future releases of the software to which they are automatically entitled as part of our single product policy."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.niceactimize.comvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10286 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8501 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7923 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7880 views comments | 3 tweets | 7 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job