Intesa San Paolo goes live with EastNets for AML compliance

Source: EastNets

EastNets, a leading provider of global compliance and payment solutions and services, announced today that Intesa Sanpaolo is now live with its en.SafeWatch Filtering solution to meet regulatory requirements and improve anti-money laundering (AML) and counter terrorist financing (CTF) controls.

Intesa Sanpaolo is the leading banking group in Italy with over 5,500 branches serving about 11 million customers. en.SafeWatch Filtering provides Watchlist filtering operations involving a client database of over 60 million accounts, and more than 100,000 messages per day.

During the project implementation, EastNets cooperated with Infogroup, an Intesa Sanpaolo Group firm that works in the IT industry, primarily for banks and insurance companies. That collaboration led to a commercial agreement that allows the making of joint offers, which include also Infogroup personnel consulting or EastNets products and services sales into Italian, Greek, Maltese and Canton Ticino markets.

"Intesa is very pleased to have deployed EastNets premier and market-leading en.SafeWatch Filtering solution, used today by over 400 customers in 80 countries," said Stefano Cabianca, AML International Officer at Intesa Sanpaolo. "We chose en.SafeWatch Filtering because it offers a robust solution for OFAC/PEP screening, that will help us to ensure compliance with the evolving AML requirements. In addition, the solution's highly sophisticated matching engine ensures rapid identification of potential risks while limiting false positives, thereby saving our compliance team substantial time and money."

"We are very pleased with Intesa Sanpaolo's selection and subsequent deployment of EastNets," said Hazem Mulhim, CEO, EastNets. "With en.SafeWatch Filtering, we help Intesa Sanpaolo ensure compliance with AML laws and regulations, reduce workload with reduced false positives, and improve operational efficiencies."

Intesa Sanpaolo Group has also recently selected EastNets en.SafeWatch Profiling AML solution to meet compliance regulations and improve defenses against counter terrorist financing and money laundering. The solution is already live at Intesa Sanpaolo United Kingdom Branch and International Subsidiary SEB of Luxembourg with plans to roll out en.SafeWatch Profiling across nine branches in Europe and Asia. en.SafeWatch Profiling provides customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting. Intesa Sanpaolo Group has been previously using en.SafeWatch Filtering in its Foreign Branches before going live in Italy this month.

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