24 January 2018
visit www.ebaday.com

Raiffeisen Bank to introduce IMTF anti-money laundering system in Bucharest

16 January 2006  |  2911 views  |  0 Source: IMTF Software

Raiffeisen Bank S.A., Bucharest, one of the largest banks within the network banks of the Raiffeisen International Group, with a customer base of more than 2.5 million clients has selected IMTF's Anti-Money Laundering (AML) solution (SironAML-Suite) for account and customer monitoring, behaviour analysis, watch-list matching and Link analysis.

This system will be implemented to enable Raiffeisen Bank's Retail Banking Network in more than 200 branches to screen all transactions and customers against watch-lists and monitor all customers for suspicious behaviour. The Link analysis supports the chief compliance Officer in a graphical way to reduce time to find suspicious customers.

According to recent research from TowerGroup, a leading research and advisory group for the global financial services industry, financial crime is costing the industry billions of dollars globally per year in operational losses with untold costs in terms of lost reputation and consumer confidence.

According to Mr. Cãlin Mihai Rangu IT&C Director and IT Manager of the year: "IMTF's offering adhered most closely to our requirements in terms of ease of use, technological viability, flexibility, TCO and future growth. With IMTF's SironAML, RAIFFEISEN BANK can not only fulfill the requirements of international rules and regulations but can also combat Money-Laundering and the financing of terrorism with one of the most sophisticated and widely-used AML tools in the world."

Christian R. Drescher, Managing Director of IMTF Software Ltd. Austria & CEE said, "With more than 500 banks having already chosen IMTF's SironAML-Suite, the collaboration with Raiffeisen is another major success in the CEE."

"We are pleased to add Raiffeisen to the growing list of global financial institutions that have selected IMTF for their AML and compliance software needs," added Mark Büsser, President of The IMTF Group. Moreover, it is a new and extremely strong reference for the IMTF Group in the retail banking industry."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.fivedegrees.nlvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9766 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9472 views comments | 14 tweets | 14 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8511 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
7030 views comments | 13 tweets | 25 linkedin
Could distributed ledgers restore the reputation of the MBS market?Could distributed ledgers restore the repu...
7002 views comments | 6 tweets | 9 linkedin

Featured job

Competitive base + commission
New York City, NY - USA

Find your next job